Enabling clarity so that people serving brands can maximize their influence in the marketplace
Organisations that focus too much on either marketing or sales often encounter challenges:
Overemphasis on Sales:
Short-term Gains, Long-term Pain: Focusing solely on sales might generate immediate revenue but can lead to a lack of brand loyalty and customer engagement.
Companies like Google, Tesla, Apple, Nvidia, Alphabet, and Microsoft have all exceeded the $2 trillion market cap by leveraging their purpose. These organisations have not only defined clear purposes but have also embedded them deeply into their operations, driving innovation and growth. Google: With the purpose “to organise the world’s information and make it universally accessible and useful,” Google has revolutionised access to information and continuously innovated to maintain its leadership.
The first step in creating a purpose is to see it not as a mere initiative but as an integral part of your growth strategy. Purpose is the company’s reason for existing, a concept that transcends social responsibility or corporate trends. It’s about understanding the wider ecosystem in which your organisation operates, examining what you currently do, what you have the potential to do, and identifying opportunities to add value or solve problems.
As the saying goes, “If you don’t know where you’re going, any road will get you there.” This highlights the importance of having a clear purpose before embarking on any journey, including in business. Purpose serves as a guide that directs all efforts and strategies towards a meaningful goal. For customer-centric organisations, having a compelling purpose is not just beneficial—it is essential for thriving in a competitive marketplace. Why is purpose crucial for Customer-Centric Organisations?
Results from the Expectation Phase naturally spill over into the Engagement Phase. Here is the truth. Without engagement, there is no business. This makes the Expectation Phase crucial for standing out in the marketplace. There are two key circumstances to consider: When Customers Are Actively Seeking Your Product or Service: Here, you need to ensure your presence in the right places where customers search for solutions.
When You Need to Position Your Product or Service as a Solution: In this scenario, you must strategically position your offering as the best answer to the customer’s needs.
The Risk of Outsourced Storytelling: Historically, many organisations have relied on third parties, industry experts, influencers, and freelancers to tell their stories. While these entities can offer valuable perspectives, give organisations reach and grow awareness, they can never match the depth of understanding and passion an organisation holds for its own product. This gap in authenticity becomes even more pronounced considering these third parties might also represent competing brands. Consequently, the narrative can become diluted, or worse, misaligned with the organisation’s core values and vision.
this Christmas, I extend my heartfelt thanks to you for consistently reading my articles, for your constructive feedback, and for your kind words. I am profoundly grateful for your support. May the joy, peace, and love that epitomise this season resonate in your lives and in the lives of your loved ones.
Selective Ignorance Can Foster Resilience: Like Huang and Winfrey, embracing ignorance of negative probabilities can encourage a ‘can-do’ mentality. By asking constructive questions like, “How hard could this be?” leaders can shift focus from obstacles to opportunities.
Retailers are sitting on a treasure trove of information about their customers’ preferences and behaviours. The key lies in how effectively this data is harnessed. Fortunately, technology has made this task more manageable.
In a perfect world, marketing would reign supreme, and its voice would dictate every decision in an organization right? But let us face reality