We need a good shake-up
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Peter Fisk, best-selling author of Marketing Genius will be writing regular posts on growth drivers. He delivers the Fast Track marketing development programme in partnership with The Marketing Society and leads GeniusWorks, a business innovation firm.
There’s a lot of talk about getting “back to normal”. Economic fears subside, as stock markets rise… Think again. Times of turbulence leave a lasting impact on markets.
At a consumer level, the “crisis” has changed attitudes and behaviours forever. People are more considered (cautious, thoughtful, responsible, selective), more collaborative (connected beyond networks, wanting a piece of the action, loyal to each other), and more resourceful (able and wanting to do more themselves, more human and local, achieving happiness through simplicity).
This time it really is the end of “shout and sell” marketing. The end of gilded, packaged, frivolous, push. From Amazon to E-cloths, Tchibo to Tripadvisor, the consumer’s “value equation” has been shaken up.
At a market level, crisis has accelerated invisible power shifts – from west to east (if you want to find venture capital, or witness real sustainable innovation go to China), from big to small (the end of arrogant, monolithic brands), from mass to niche (market share is no indication of profitable growth), and business to customer (connected and intelligent, and demanding everything on their terms).
It’s the end of the “big is best”, “people or profit”, “them and us” mindsets. From Alibaba to Zipcars, Tesla and Threadless, there is a new order in markets and marketing.
As marketers, we are the growth drivers like never before – but in a way that requires more than great communication, increased sales and incremental innovation. We need to reframe what our brands do for people, make unusual connections to redefine categories, enable people to do more, and engage them in more genuine ways.
E-cloths, the Kent-based green cleaning wipes is a great example – combining the possibilities of nanotech fibres that clean better, while eliminating the need for eco-damaging detergents. EMT from Estonia has become the world leader in pre-pay phone cards, by moving from consumer to business markets with more focus and difference.
Coolest business in the world right now? Have a look at threadless.com. The “user-generated” T-shirt company asks people to upload their designs, with the best 50 voted for each month. The designers are paid for their limited edition shirts which sell at a premium. Next month it all happens again… from “value for money” to “value for participation”.
There’s nothing like a good shake-up. Yes, it’s time to get back to growth, but in more thoughtful ways.
Posted: April 20th, 2010 | Author: elen.lewis | Filed under: Growth Drivers | Tags: Growth Drivers, marketing, peter fisk, threadless | Leave a Comment »
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