+647 226 4048 jeff@thesupermarketinc.com

Underlying Market Factors Driving Change

There are three key factors that are driving the necessity of change. And the Super Market Inc. is built to deal with these:

Drivers of Change

  1. On-demand access to the world’s information means your customer is in control.
  2. Because of many and new competitors, the key aspects of an industry are in a constant state of evolution.
  3. With content overload, how you engage with customers and prospects has to evolve.

Implications

What are the implications of these factors for your business or brand?

Firstly, you need to include more of the macro environment in the analysis of the market. Look at culture, look at the customer experience (CX), the means we using to connect to our systems (systems being for example how we bank, how we order food, how we get our car fixed) and look at the total relevant digital experiences for your industry, your segment, adjacencies and alternatives.

Secondly, all of the main six vectors we look at are in a constant state of change. Is your category the same as it was last year? Is your customer? Are your culture or digital competitive options around your business the same as it they were last year? It’s highly these all have changed dramatically. You need to plan for tomorrow, not just today.

We look at the “dominant” activity happening today across the majority of your competitors, but we also look at the “Emergent” players – the new interesting, currently small players, who could pose a significant threat soon. Think restaurant and then Uber Eats shows up.

Thirdly, an app, a SMS campaign, a Facebook Live broadcast. These are just several of the new means to connect with your customers and more importantly, your prospective customers. But we don’t let the “tail wag the dog”. We recommend our process to first identify your Purpose, stakeholders, and then determine the interesting means to connect and truly engage with your prospects. There are new means to successfully engage with customers and prospects.