Make a mark.
Recent statements and projections by the Australian Prime Minister, Scott Morrison, are interesting, upbeat and questionable.
The core focus, if not primary cause, is COVID-19 and the related lockdowns and self-isolations.
References about “the otherside”, “spring-back”, “snap-back” and “bounce” are essentially subjective, and probably hopeful.
Australian business leaders may well recall, and be drawn to memories of the late media magnate, Kerry Packer, at the time of a massive heart attack, when he reportedly “died” for some 20 minutes.
In a subsequent press conference and in response to a question about his experience, he declared, in his own imitable style:
“Believe me, son, I’ve been to ‘the otherside’, and there is nothing f**king there.”
So, Prime Minister and all in commerce, once we arrive at ‘the otherside’ if may need a lot of “greenfield” construction. Achieving and sustaining “snap-back” and “bounce” will doubtlessly take time, money and resources.
In this journey there will be no definitive answers to the perennial question, which typically emanates from the rear seats: Are we there yet?
Many entities will not survive the transition.
Among the casualties will be established rules, conventions, relationships and supply chains.
Clients and consumers will have been exposed to differing choices, experiences and value-propositions.
Accordingly, new purchase routines and criteria will have been embraced and applied.
PRESUME NOTHING
A total change is unlikely, and improbable. However, most aspects and variables will be subject to review, refinement and development.
There will be little point in, “Scomo, from Marketing” (the Prime Minister) reprising his often touted past advertising campaign, when employed at Tourism Australia.
Having Lara Bingle, or any other attractive bikini-clad model hollering:
Where the bloody hell are you?
will highlight that, on the otherside, many will be lost – consumers and businesses.
Re-acquainting with clients and customers will be advisable, if not imperative. They will be an essential element of change, and the change process.
Realignment of philosophies, values, missions, goals, objectives and targets seems inevitable. In all likelihood the changes will be structural, strategic and, in many instances, substantial.
Supply chains, payment systems, service expectations, policies and practices and people will be, or should be subjected to forensic analysis.
Capital adequacy, risk profiling, expected internal rates of return and inventory levels (and distribution) should, ideally, be assessed, determined, documented, declared and adhered to.
ZERO-BASED PLANNING
It will be prudent and appropriate to begin the planning process with a clean slate, free from the encumbrances and limitations of past practices, but influenced by experiences, training and expertise.
DON’T WAIT FOR GOVERNMENT
The lock-down scenario and its many and varied consequences provide a sound basis for reforms to business tax, superannuation, negative-gearing and GST by the Australian Federal government.
Sadly, it will be a forlorn hope, unrealised, for those looking for government leadership.
Therefore, certain fundamental characteristics of the economy and marketplace will persist because of inaction, inattention and a lack of resolve within the political fraternity.
Individuals businesses and leaders may not be alone, but will do their best if they go for it on their own.
REVIEW, REFINE RESTRUCTURE
On the otherside, nothing will be immune to detailed analysis within organisations, big and small.
All twenty elements of the marketing mix will, or should be, subject to study.
THE PRODUCT/ SERVICE RANGE
It is noticeable that throughout the world, department stores, supermarkets, motor vehicle manufacturers, manufacturers, media groups, accountancy practices, profession associations and service centres have all declared an intention to reconfigure (and in many instances, reduce) product/service ranges.
Proposed smaller, narrower, and leaner offerings reflect the importance being assigned to relevance, productivity, efficiency, effectiveness, financial prudence and longer-term viability.
Supply-chains will be revised, with greater emphasis on local production and sourcing. National and individual security will demand no less. Globalisation will begin to wane and nationalism grow.
The concepts of cross-subsidising and ambitious financial gearing are being assigned to history in many cases. Products, categories and clusterings, and space allocations will need to be closely monitored profit-generators.
Attendant structures, disciplines, philosophies and practices will be needed to ensure adherence and optimisation.
TARGETED AUDIENCES
A logical extension will be the need for determination of the profiles of, connections with and the servicing of primary, secondary and tertiary target audiences.
Old-style, long-established demographic and psychographic determinants will inevitably be obsolete, and replaced with more relevant common characteristics.
This aspect alone will isolate and highlight to many management teams, just how little they really knew about previous preferred clienteles.
Better, more detailed appreciation of clients and customers will contribute to better understandings, more effective communications and interactions, and enhanced, more resilient and profitable relationships.
Standardised, sector-wide “value-packages”, which contribute to widespread commoditisation will be, or should be, cast aside.
COMMUNICATIONS
The principles of multi-channel and omni-channel communications will be revisited. Over-reliance on, or a bias to one or few of those channels will be corrected.
The strengths and weaknesses of ubiquitous social media will be identified ... if not quantified. Poor returns and low conversion ratios will be noticeable.
Complementary and integrating tactics will strengthen the previous overriding deficient strategies. The power and evocative, emotional nature of the spoken word will, in increasing number of cases, be recognised and deployed (or perhaps redeployed).
THE WORD IS “SUPPLY”
Well articulated case-studies of empty shelves because of panic-buying resulting from the perceived threats of COVID-19 highlight the need for, benefits of and rewards for short, malleable, efficient and effective supply-chains.
On reflection and in balance, it became apparent that surges in purchase demands exceeded both short-term supply and consumption. Consumers simply “hoarded”, in fear of a lack of supply, or an inadequacy of the supply-chain.
The other sixteen elements of the integrated marketing mix will be dependent upon, and need to both contribute to and complement the key pillars.
Deficiencies in, or the absence of, any, will ultimately result in sub-optimal performances and the inability to be competitive and compellingly attractive and different.
It will be well to reflect on the philosophy:
The objective of marketing is to make selling superfluous
NO ECONOMISTS’ RATIONALISATIONS
Foremost among the realities on the otherside will be that there will be no currency in the attitude on the otherside.
That is, there will be no scope for a fall-back position to “old established ways”.
In the initial period, measures of relevance, productivity, efficiency and effectiveness will be absolute. There will be no comparative measures in the exciting new normal. This is zero-base management real-time.
He, she, or they, who are first will be best, preferred and winners, on the otherside.
Imagine, if you will, there will be no purpose or capacity of looking back because many will conclude:
The past. That’s where I’ve been, and
there’s nothing f**king there (... of relevance)
Barry Urquhart
Business Strategist
(and sardonic scribe)
Marketing Focus
M: 041 983 5555
E: Urquhart@marketingfocus.net.au