Archive for the 'Strategic Planning' Category

27
Apr
11

can we risk not taking any risks?

Who hasn’t — at some time or another — fantasized about going on a coast-to-coast road trip with a handful of good friends? I’d guess very few of us.

Just a week or two ago, this fantasy became a reality for two friends when they traveled from New York to Los Angeles by way of Las Vegas. Only thing is that rather than drive themselves, they chose to take a yellow taxi. Time spent on the road? 6 days. Final fare owed to the cabbie? $5,000 (less a $12,000 discount)!

This was, obviously, an adventure they believed was worth it. But something, I’m sure, many around them felt didn’t quite make sense, especially considering that a JFK-LAX return flight currently goes for as little as about a tenth of that fare price.

In marketing, it’s easy when dealing with real dollars and budgets that we’re personally accountable for to fear doing anything outside the so-called safety zone. But if we don’t take any chances, we run the risk of missing out on creating some great products, services, and ideas.

Just think how different things would be now if no one had dared to create a mobile operating system to rival Apple’s iOS (Google’s Android), a digital device that fell somewhere in between a MacBook Air and an iTouch (Apple’s iPad), or a social network game centered around virtual farming (Zynga’s FarmVille).

Reminds me of a TV commercial a couple of years ago in which a man is trying to sell the idea of a new breakfast cereal made from pulverized corn to a room of businessmen. They wait politely for him to finish, but then immediately burst out laughing with one man asking, “What’s next? Bottled water?”

Photo credit: Daniel Flower

13
Apr
11

chameleon businesses — friends today, foes tomorrow

New York is home to a sizable number of slash kids… and adults. (We’re talking people who work a number of odd jobs while pursuing their dreams here, not folks walking around waving knives and other sharp objects.) We have the dancer/(slash) messenger/stand-up comic; the writer/yoga instructor/tutor; the musician/dog walker/waitress. Trust me, I could go on all day.

It’s so fascinating to see how these individuals are able to transform themselves effortlessly from one situation to the next. In the morning, they’re smiling as they ask how you take your latte. And then at night, they’re scowling as they scrutinize your outfit and I.D. card with a penlight at the door.

We’ve got a lot of notable slash kids in the business world, too. Amazon began as an online bookstore but now sells everything under the sun — car parts, jewelry, and even food. Apple, originally Apple Computer, is now also world-renowned for its iPod, iPhone, and iPad devices. And SXSW (South by Southwest), which started off as a 700-attendee music festival, has grown twenty-fold into a go-to event for anyone with ties to the music, film, or interactive industries. So as marketers we need to be constantly aware of how businesses are changing — evolving. A brand that may have started in an area far removed from where we are focused can — in the blink of an eye — become a very strong competitor. I mean, who would have thought back in 2004 that Google and Facebook would grow to become such serious rivals?

Photo credit: Art G

02
Mar
11

leaving consumers thirsty for more

When New York Yankees starting pitcher Andy Pettitte retired at the beginning of last month, he left some of his fans yearning for a great comeback one day. Too bad celebrities such as Lindsay Lohan and Charlie Sheen aren’t likely to find themselves in the same boat.

Too bad that in many areas of business — not just marketing or advertising — it’s all too tempting to ride a wave out for as long as we’re able, even when it may make more sense to quit while we’re ahead.

Remember how the GEICO cavemen took the U.S. by storm back in 2004 with all those funny TV commercials? Well, that was a very different scenario from the one they find themselves in today with a failed 2007 ABC sitcom and an unexceptional vlog  and social networking site presence. And now we have the hunky, wildly popular Old Spice spokesman Isaiah Mustafa. Over the past eight months or so, he has delighted the American consumer and breathed new life into the Old Spice brand. But when will it be time for Isaiah to throw in the towel? (sorry, couldn’t resist the pun)

It’s not an easy question to answer. Wait too long and risk losing the consumer’s interest. Get out too early and miss a great opportunity to further strengthen and grow the brand. I’m sure executives over at Rovio Mobile wish they had a crystal ball as they take their hit mobile game Angry Birds and venture out into toys, board games, and possibly even movies.

Photo credit: Larry Ewing




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