Noone forces reinvention. It’s never urgent. It’s a slowly degenerating trend. What signs will tell me it’s time? Any clear alarm bells out there?
Here are some signals to watch out for :
If key indicators are on a downward trend: how’s your relevance (‘it’s a brand for me’) / your proximity (‘I feel close to’) / your net-promoter-score (NPS, response to the question ‘Give a score 1-10 your likelihood to recommend this’)? Any gap tells you you’re losing pulse. And predicts losing share. These KPI are not about confirming your average product quality is OK. It’s about a keeping brand experience engaging, make sure users feel understood/close/compelled to advertise your brand around them. Instant indicators of how relevant your customer experience is to your best advocates: your customers.
When you look around at competition, you see too many small incremental innovations (‘red ocean’, remember?) that become absurd and ridiculous. It’s time to ask yourself: is that the role you want to play in your industry? Or is there , i.e. space for a start-up to sneak in.
Expectations rise : The world changes, we’re in 37 A.I. (“after internet”). Fragmentation of media and digital touchpoints challenge traditional marketing approaches. Every evolution in marketing tools used by any GAFA makes consumer expectations rise for all other categories. Is expectation-evolutions urgent? No, but you don’t want to be the last company in the category to fine-tune your CRM strategy…
What other signals can you think of?
Thanks for sharing,
Gregory Berleur & Thomas Mees