Most people know that sectors, industries and markets have changed forever. But few know what to do about these changes.
To find new solutions, you must identify the forces necessitating change and adjust your planning inputs, process and outputs to match.
There are three key underlying market forces changing how businesses operate and succeed:
1. The Customer Is In Control
With on-demand information, crowded categories and new factors like the sharing economy, your customer has more control than ever. To deal with this, we use an expanded situational analysis to incorporate and leverage these factors.
2. Categories & Segments Are In A Constant State of Evolution
The key vectors of a market, like the number of category players, the types of players, as well as your customer are in a constant state of evolution. To address these, in our process, we identify the three key stages of evolution in these areas – looking at where players have been, the main dominant behaviour now, and the emergent behaviour which might indicate impending threats or new white space opportunities.
3. Content Overload
The old rules of engaging with customers is over! Full-stop. Trying to be noticed has never been more challenging. Digital media has recently surpassed TV. So we approach the output of our strategic process differently, not just looking at a brand, but you’re overall reputation management; not just an ad, but what is your overall messaging strategy across key groups. How people interact with companies and brands has also changed, it could be an ad, but it could also be a mobile application, a text campaign, a Facebook Live broadcast. And of course we have to look at audiences, channels & networks (and we don’t mean TV) and appropriate content strategies.