Successful marketing programs have a reliable foundation ( such as the marketing calendar ) but also the ability to be responsive and agile . This means programs can change , but they do so according to strategy , even when we are a little panicked .
Successful marketing programs have a reliable foundation ( such as the marketing calendar ) but also the ability to be responsive and agile . This means programs can change , but they do so according to strategy , even when we are a little panicked .
Panic Triggers
Two of the biggest triggers for panic marketing are the P & L and competition . There are also cases where disruptions as drastic as a pandemic or hurricane or as innocuous as road construction can trigger panic marketing . Additionally , shiny object syndrome can also be a cause .
As executives , we are very aware of how our financials can have a ripple effect . A penny difference in missing or exceeding investor expectations can have an enormous impact on the stock . And while Wall Street may be obsessed with quarter-over-quarter results , internally , some of us obsess on a weekly ( sometimes daily ) level , and that can have us spiraling into tactics that are not right for us in the long run .
If a new competitor enters the market or an existing one is doing something new or well , we feel the pain of their success . There is a reason strengths and threats ( as well as opportunities and weaknesses ) are opposite each other on the ubiquitous SWOT analysis .
When a competitor beats us , we scramble to copy them ( even unintentionally ) or meet them at their challenge . How often have we been “ advised ” to adjust the reinvestment matrix to keep up ? How often have we purchased ad space because one person would see it or “ recommend ” it ? This has happened to all of us .
Natural disasters and even road construction can send us into panic marketing mode . We become more aggressive with offers or ramp up our presence in communications channels .
We see trends and tools , attend conferences , or meet charismatic people who can flip our marketing around because we worry that we may miss out on something . I have seen marketers completely abandon their marketing calendars to implement something new that someone is convinced will change everything rather than waste time taking a measured test-and-control approach . We are almost all guilty of falling victim to shiny object syndrome in some way or another .
Panic marketing can also cause us to cut costs and tighten our belts in ways that may damage our business in the long run . I did not argue these cuts as we all simultaneously had to shut down our businesses . Still , I have argued with a general manager that chose to tighten his proverbial belt when a competitor came to town . Rather than maintain a presence in the mind of customers , he opted to cede his share of voice because “ he couldn ’ t compete .”
These triggers share a root cause : there is no real vision or strategy for the
brand or growth , or because the marketing team does not have a real seat at the table ( even if someone is occupying a chair ).
Even if some instances of panic marketing appear successful , they can have detrimental long-term effects on the business .
This type of marketing can erode retention and job satisfaction . No one likes constantly shifting gears , the state of chaos panic marketing creates , or frankly , taking the last position in the market just because we gave up . Moreover , panic marketing causes the executive team to experience frustration and lose confidence in the marketing team itself .
An organization mired in panic marketing will never hit its goals because the panic does not allow you to see things with balance . Sure , you may create visits and traffic , but at what cost to the experience or budget ? Additionally , you never have time to appreciate a long-lasting success .
Panic marketing can also erode your brand . Moving too quickly can create disconnected messaging that loses resonance with your target audience and , more importantly , team members . I will always say if you do not lay claim to your brand voice , someone else will take it .
Panic to Agile
Marketing efforts need to be grounded in strategy and purpose in order to map the way forward . Successful marketing programs have a reliable foundation ( such as the marketing calendar ) but also the ability to be responsive and agile . This means programs can change , but they do so according to strategy , even when we are a little panicked .
The first step is to ensure you can make the right decisions . That entails understanding the underlying business challenge . This type of approach can apply to every aspect of marketing , even advertising . If you look back at creative jobs that have gone over three or four revisions , I can guarantee that you will discover an underlying business challenge that was never communicated .
Then , when presented with a tactic that could upend your strategic plans , you will need to analyze why and how the tactic may be working for others .
• Step into their shoes and ask why they are utilizing the tactic . Keep asking why until you can uncover the root cause .
• Then understand if and how it might work for you . Usually , copying
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