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Musings, Thoughts and Observations
Whether its a physical recovery from injury, or a commercial recovery, some of the same lessons that apply… Here are some musings from my recovery from an Achilles injury, that I thought could apply just as well a business bounce back.
Consumer behaviour has been erratic with many brands experiencing huge peaks in consumer acquisition followed by significant declines in retention rates. Here we take a look at consumer motivations and offer 5 strategies to stem the flow from your leaky customer buckets…
Forecasting, when the past is no longer as reliable a predictor of the future...
As we emerge from lockdown and hopefully embrace a period of recovery and reopening, we cannot ignore the profound impact the last year has had on how we live, and with that how we consume, transact, and engage with the world around us. How then, can brands effectively plan for what is next?
This was the subject of a recent round table debate with some of the UKs leading econometricians. During which, the panel comprising Steve Messenger, Clive Frostick and Bryan Smith, highlighted the robust nature of a strategic forecast (as opposed to a standard baseline plus forecast), concluding that if enough rigour and challenge is entered into then reliably forecasting for a post Covid marketplace (the next 12 months) should be realistically achievable.
Do you understand the true value of your marketing activity? Are you capturing the ‘defensive play’ as well as the short term gains? Have you considered the long term impact that reducing visibility can have on your accumulated weight / share of voice and how that translates to revenue in the years to come?
Cast your mind back just a few short months… who would have thought when we were celebrating Christmas and welcoming in the New Year that we would be spending Spring in lockdown???
As I watch the news, listen to friends, family and clients describing their experiences, their plans for their businesses, their changing opinions and thoughts about the new world order, I can’t help reflect on a few key themes that might play a role in sculpting the shape of things to come…
As we stand braced for further disruption from Covid-19, with its enforced isolation and the subsequent deterioration in business, economic conditions and community groups, its important to recognise that there is still much within our own control.