The most important question in strategy
Building a sustainably profitable business is a bit easier, and a lot more likely, when you couple that drive with a strong strategy.
Building a sustainably profitable business is a bit easier, and a lot more likely, when you couple that drive with a strong strategy.
Successful strategy requires being different. When you focus on what everyone else is doing, when you try to fit too well into your industry, you become more and more like everyone else—with less and less for a customer to base a choice on other than price.
The task was to sell a German-made car in America, less than 15 years after the end of World War II. Oh, and it looked and drove nothing like the most popular cars of the day. So how do you introduce a new car in a hostile market dominated by giants?
Why do we put off marketing work we know we should be doing? The fact is, if we aren’t confident an action is going to create positive results, we won’t do it. We’ll procrastinate. We’ll avoid it. We’ll make excuses. It’s not because we’re lazy, it’s because we’re scared.
My favorite cognitive bias is called “déformation professionelle.” Basically, we see the world through our jobs. It’s a bias I certainly have. I see everything through a marketing strategy lens. Often, that just makes me a boring conversation partner. But, sometimes, it actually helps.
When we meet with a new client, a very common sentiment is a sense of anxiety that pervades their marketing. Some say they hate it. Some say they like it, but it stresses them out. Others have just been trying to ignore it, or let someone else handle it.
Just what is my marketing actually doing for me? What’s the point? The purpose of your marketing, from here on out, is to reinforce your position.