2020 NEW YEAR’S RESOLUTIONS – TIME FOR CHANGE
Marketing is The Change Function, so the start of a new decade is too good an opportunity to miss for taking new perspectives and launching fresh initiatives. So, it’s out with the same old same old, and in with our new Tangible Resolutions for an outstanding 2020:
1. Get Healthy by facing your Brand Reality.
Tracking the vital signs of awareness, distinctiveness, relevance and appeal are all helpful in uncovering indicators of performance strengths and weaknesses. A deeper and objective review of brand fame and force factors is a constructive way to identify the effectiveness of your assets and equity value so you can work out whether your brand needs an investment boost to make it competition ready for the new decade.
2. Do Something New, Different and Better.
Existing and new product development churn is a necessary part of maintaining relevance and keeping step with market movements. The nature of churn and the revolving door of ins and outs means that whilst the whole organisation bears the impact of constant change demonstrating bottom line impact is often difficult. How about a 2020 in which hurdles are set higher, game changing innovation is the goal and new business streams are the result?
3. Get Out There and Meet New People.
The fastest route to being bigger and better is by engaging and converting new users to increase buyer penetration. Increasing purchase frequency and simultaneously improving short term profitability is a great achievement; getting more people on board multiplies this effect and produces faster and more sustainable medium-term returns.
4. Learn Something New.
The marketing world is changing rapidly especially in communications, engagement models and direct to consumer fulfilment programmes. People’s attitudes towards brands and consumerism continues to shift and new shoppers, for example in Gen Z, have subtly different approaches to selecting brands of choice. Making 2020 a year for new learning will set up brand teams to create new momentum in the new decade.
5. Get Organised.
Consumers don’t recognise budget years and the corporate planning cycle so whilst brand investment must be managed based on the availability of funds it is best allocated on the basis of need and potential for ROI. Demonstrating marketing effectiveness drives a requirement for more thana repeat of last year’s programme and to organise plans and activities around clear and measurable objectives, distinguishing between essential maintenance, short term sales generation and long-term brand building. The new year is an opportunity to identify investment triggers and organise a more programmatic support programme that delivers results.