Adjusting to Dynamic Market Needs — Root Change or Route Change?
From word-of-mouth to traditional mass media involving newspapers, radios, television, and further to mobile phones, computers, and the on-going trail, Homo sapiens got no chill. With the ever-growing innovating minds and their implementations providing ease to make up for hunting and gathering years, Gen Z won’t even need to move a toe to change the world. As the “ease” is easing out all the prior complexities, it is creating room for fresh ones. Here, we are not just considering the generation that’s accelerating with digitization at the speed of something less than 1 second per search, but also the generation whose attention span today is less than that of a Goldfish!
With smart discoveries come smart challenges. How to outsmart the everything-smart of today?
One will be able to provide a top-notch experience through the latest updates in the market more efficiently if he strains on accomplishing the former course of actions like a fox, i.e., in business terms, along with the headway comes the competition to feed the audience while making the best use of opportunities and abilities, particularly focusing on enhancing one’s business portrayal and reach.
So, how do we respond to the dynamic environment with ever-growing challenges? Should we move to sell traditional ideologies to Goldfish now or start juggling ourselves between W. Chan Kim & Renee Mauborgne’s Red and Blue Ocean?
You’ve got two options! Root change — being implied to innovating something new, or Route change- for being creative and smart in reaching your audience for the same old, or even new stuff.
Before making elephant-changes to adjust with the dynamic approach, consider having a look at the “outstretch” of your business. Marketing in itself is a significant arm of the business that usually grabs a major chunk if directed wisely. When we say wisely, it doesn’t mean you will be right all the time; just the wrong won’t harm anyone. The wrong is a strategy that doesn’t incorporate criminality or deceitful tactics but a harmless or rather smart-play, like Apple coming with screen time feature, which not only re-woke the problem of too much screen use, while dramatically taking the image of mobile phones down, but displayed itself as a secure brand which is trying to help its users to build a healthy routine. Therefore, still standing a step ahead among the other mobile phones, gaining plus points for the feature. More plus points= more sales.
Coming back to the significant arm — Marketing, one of its game-changing branches or finger, as in my vocab of metaphors, Advertising, it moves places. To tackle the market from this particular vision, it is important to understand and perceive the minds of the audience. If you are targeting a seven-year-old, think like a seven-year-old. The place where “call-persons” are extinguishing faster than tigers, your “valuable feedback” requirement will get “BRB” (not even in caps) responses till you stop bothering Sir/Mam over unnecessary call-marketing techniques. In no time, there will be a complete takeover by Netflix and its upcoming cousins in place of television, which otherwise is already very much visible when coming to millennials, who, by the way, hold a large consumer market, buying the way.
Another variation taking marketing to a new scenario is that the millennials, today, might relate more to a YouTuber than mainstream celebrities. YouTubers build within days what companies spend decades to achieve — Trust. The feeling of getting to know someone regularly and being able to relate to the little things, which can’t be very much possible with the PR-approved behavior of celebrities, grants an edge to the YouTubers. On a personal level, subconsciously, I’ve discovered even my wardrobe is relating to my favorite YouTuber’s. Not just that, YouTube stars influence fans exponentially well beyond just products. Ideas, lifestyle, choices, and even hobbies for the count. This explains why online ‘Brand Influencers’ are gaining relevance to a great extent these days, be it on Instagram, YouTube, upcoming platforms, and the ones that are being formed while you read this. On the other hand, for some homo sapiens, we just woke up one day and realized being a ‘Brand Influencer’ online is a thing!
Coming down to the matter, innovation doesn’t always involve a product, but also an idea that can enhance the most basic product’s sales. The challenge is to understand the hitting point for the audience through their perception, finding the appropriate or rather a smart route which is sort of (at least) inclined with emotions, and being quicker than Maggie, because Goldfish don’t need screen time.