How to position you and your business to win during times of transition and transformation…

There is no doubt our market is responding to changes in the real world - 

Recession, COVID and ultra-high inflation rates…have all shown their affects on our businesses and profits in the recent months and years. 

Comments on the impacts to general profits, launch grosses, customer engagement and lifetime customer value are becoming more and more frequent…(and some have even been charting this)…

But that doesn’t mean we can’t keep building, growing and succeeding. 

In fact, you should hopefully recognise the massive opportunity this change presents. There is HUGE BENEFITS in refocusing our efforts to align with the external forces impacting our industry right now.

We CAN see the same results in a turbulent and changing market as we’ve seen before - if not BETTER - 

Disruption can force positive change, if we keep these simple techniques at it’s heart…(and are prepared to do a little bit more than just sit on our laurels).

Constantly peddling just to stay afloat where you used to sail easily can feel all too real right now. 

So, we have to be a Netflix not a Blockbuster…And a FujiFilm not a Kodak… 

So let’s act and first..let’s act FAST. 

Act Fast

There’s no doubt that speed is of the essence - in fact, it’s speed and smart-timing that makes the difference between a business shrinking or growing in a turbulent time and even whether it continues to exist.

We should all know the story of Kodak - when the time was ripe for Kodak to listen to the call of digital photography - they famously let that window of opportunity go and instead chose to dig their heels in - even arguing with their competitors that analogue photography was better - and this defiance carried on for the best part of ten years and ultimately played a huge part in their demise.

I’m not suggesting you’d wait ten years…but we get it - you get precious about your products and your processes … “That’s the way you’ve always done it”…

This denial and defensive attitude can delay our action and cause us to stall or fall. 

When you know a-changing is coming…or it feels like you’ve been treading water or profits for a while…take your cue…

It’s time to either ADAPT or INNOVATE: 

(Hint - chose both!) 

Innovate: 

When the numbers are down and the same old techniques just aren’t cutting it…

It’s time to try something new.

No more ‘Me Too’ products or copy cat codes.

There’s no point doing the same thing over and over again and seeing dwindling or failing results. 

Whilst Kodak continued to dig its heels in and market its analogue offerings…Fujifilm started to rise to the top when it shifted its promotions towards ‘the digital way’. 

Had a new idea in the pipeline you’ve been desperate to try?…But didn’t want to risk it whilst things were ‘working’?…

Now’s your perfect time to try it. 

New product developments, system improvements, never-before-seen marketing techniques and ground-breaking thinking, can all get you out of a rut and let you surf those choppy waters when the industry spots a potential perfect storm. 

There has never been a better time to try something new and listen to those ideas you might have disregarded as risky or ‘crazy’ before - 

In fact, not listening to these potential innovations at at time of industry disruption can be fatal to your business. 

Kodak’s story gets even sadder when you realise - they not only ignored the call to shift to digital photography…

They invented it…And ignored it!

Did you know that Steven Sasson, an electrical engineer of Kodak actually DISCOVERED the technology behind digital photography, but Kodak simply disregarded it?

So ignore your own or your team’s innovative ideas at your peril - because whether you choose to innovate or simply play it more safe…you HAVE to ADAPT. 

Adapt 

Adapting and adjusting to industry changes is the difference between surviving and thriving, sinking or sailing… 

Another cautionary tale is ‘How The Blockbuster DIDN’T Change It’s Spots’ (arguably my favourite Rudyard Kipling tale… ;))…

When entertainment evolved from in-store disc and VHS rentals…

To at home streaming…

Blockbuster failed to promptly read and respond to these changes until it was too late…

Consequently…we don’t all settle down to binge-watch ‘Blockbuster’ every night, we don’t ‘Blockbuster and Chill’ and I certainly don’t know many people who’ve been to it’s last remaining store in the world…(It’s in Oregon by the way if you DO want to go…)

But Netflix took our Friday night in person movie-rental traditions and turned it into an every night, on demand, recurring payment sensation…

Simply by listening to the market…

Ask Your Audience & LISTEN

In true ‘Who Wants to be a Millionaire’ style - there’s no better way to get a handle on what changes are really affecting your industry than by ASKING and LISTENING to our customers and potential customers. 

I know a few marketers who already do this extremely well and believe me…they stay ahead of the curve. 

We all know that research and development is a core part of marketing success…but now and then, some of us seem to forget its importance in staying on top of this industry and staying relevant to our customers.

If you don’t know - ask and when you ask, for goodness sake - listen.

But don’t just listen to one person…or your most vocal people… 

Try and listen to everyone. Try and spot trends  - take averages.

Use surveys. Use your communities. Delve deep into them. Ask questions. Make yourself present, known, supportive. Find out what’s affecting your customer’s lives, bank balances, businesses…

Ok, so you’re not Doctor Phil - You might not be able to fix it for them…But you will certainly be in a MUCH stronger position to know why they aren’t spending or engaging with you so much anymore…

Heck, just come right out and ask…"What can I do to improve how you use xyz” or “what would remove the challenge of you buying xyz”. At least you’ll have SOME idea what’s up - relevant to you and your brand.

…Do you need to make your products cheaper? Build in more features? Run a special offer? Make it do a brand new thing?…Is a competitor stealing your thunder?…

If they are…

Then…GREAT. 

Look To Your Competition For Disruptors

“Why GREAT?!” I hear you cry! Simple. Looking to your competitors (especially if they are currently doing better than you!) is a GREAT way to get clues on what’s disrupting and changing in the industry and how you can fix it for your audience.

Is Marketer X is doing better than you? Excellent. Find out why. 

And if you can emulate - emulate with your own twists. (We’re not condoning stealing ideas in any way!) If you can add and innovate on top of what they’re doing - even better.

AND if you can level up together = the best. An industry levels up when EVERYONE levels up.

Yes we all want our slice of the pie…and we all want our lions share of the profits…So this can sometimes make us protective over own stuff (and I understand, some of us have had our products, marketing materials and more ‘copied and pasted’ in the past, so I understand your nervousness about this…

But most of the time, there really isn’t any harm in asking your closest competitors what’s going on for them. If they’re willing to share - maybe you can even team up and level up your profits and business together.

And I’m going to use one of the most successful businesses of all-time to illustrate this…

So…Let’s take a trip to Disneyland for just a moment…because…you know…it’s us! 

Even though Walt Disney famously had his fingers burned when he famously lost the rights to Oswald the Lucky Rabbit…

But being down on his luck forced him to innovate and create the pretty infamous I’m sure you’ll agree…Mickey Mouse.

And this finger burning didn’t scar him for how he chose to do business. He realised the great benefit that working WITH and not against his closest competitors meant for him, his profits and the future of his company.

This is a tale of how two men named Walter quickly turned Orange County, California into the leading theme park area in the state and also how they influenced each other’s theme parks so positively.

Walt Disney and Walter Knott not only genuinely liked each other but knew they could learn from each other. Knott went first with Knott’s Berry Farm - paving the way in rides and innovations such as animatronics and Disney worked directly with him to develop these ideas for his own park - and in return helping with attraction maintenance and support throughout the years.

Despite the two parks being so closely located to each other - the two men never competed - instead they chose not only help each other - but also come up with joint ideas on how to best serve their customers and and potential customers. 

When Disneyland opened, decades after Knott’s Berry Farm - KBF didn’t suffer from this ‘competition’ - in fact, because so many people were now coming into the state to visit Disneyland - many visitors decided to visit BOTH parks on the same visit - 

And the first two years of Disneyland’s operation was the STRONGEST period financially for KBF up until that point. 

Both Walters are now sadly long gone - but their parks and legacies did not die with them (both are still thriving today). Neither did the spirit of their friendship and collaboration. (They even had a public condolence book for Disney in KBF after his death). 

It was clear that their friendship and their openness to working together (whilst still looking out for their best interests of course), WAS mutually beneficial - and meant not only did they both create something amazing and truly long-lasting - they created something that the public desired and still continues to be wanted today. Still adapting, growing and developing today. 

See - I know this sounds like a Disney story 😉 - Or a nice Rudyard Kipling fable - but it is proof that developing some working relationship with your closest competition - can serve to level up the industry - and everyone’s profits sometimes. 

BUT - if this heart-warming story of business success has simply failed to warm your cold competitive heart…And you feel like you simply can’t be a Walt with your closest competition…

Simply charting what your competitors are doing differently to you can give you HUGE clues on how to deal with industry disruptions and come out on top yourself.

And if nothing else - simply looking to those who are doing better than us - and (first step) - admitting it - (let’s throw those egos aside for a minute) can be the #1 most motivating factor in us getting back out there and aiming for world domination once again. 

But I feel the evidence is pretty strong - when we DO work together - we can not only ride any storm - BUT maybe even come out stronger and more sustainable than we were before…

Work Together

There’s strength in numbers - and this has never been more true as you think about you and the future of your business, bank balance and family legacy.

Even in a turbulent and disrupted world. Big numbers may be less consistent and what’s ‘big’ now might be smaller that it was… 

BUT there is STIL a TON of people doing record-breaking numbers, launching incredible products and getting top dollar results from their marketing. 

And wouldn’t it be amazing to get all of those people in one room?!

Let’s learn from them. Look inside our hearts, minds and businesses and see how we can adapt, innovate and get better results. 

Let’s level up, get paid more and raise our game - together. 

And here (finally) is the shameless plug.

There is the strength behind a network coming together to create positive change. And we’re bringing that network together in November 2022 (7th - 9th!) in Las Vegas! 

Attending Marketing Summit Las Vegas is one of the best ways to find out what’s happening in our industry right now…

…Find new ways to adapt, innovate and move quickly…

AND (the best bit!) meet real people, IN REAL LIFE (IRL y’all!) who can help you do this.

Not only do have nearly 10 YEARS of success stories…

From people meeting their new business partners at the event and going on to co-run multi-million dollar businesses soon afterwards…

From people who got their first development / copy / design gig at the event…

From people who added extra zeros to their launches backends and affiliate promotions…

And not to mention, people who made friends for life like Walt and Walter -

Marketing Summit has definitely changed lives and businesses. 

And we have the testimonials to prove it.

But, most importantly, there has never been a better time to meet up, level up and skill up with fellow marketers and entrepreneurs than RIGHT NOW. 

The trends show the market is changing…So our our numbers. They’re being affected by the real struggles our customers and fellow humans are currently facing. 

Coming together to share ideas, discuss innovations, challenge facts, figures and techniques…Find what’s currently working…and what’s NOT - Will inevitably drive revenue growth and profitability for the entire network.

If there was ever a time when you really needed to learn from the best, the most innovative, adaptive and fast moving people in our industry - it’s NOW - 

And they’re all here at Marketing Summit Las Vegas -

So check out our stellar speaker line-up here: marketingsummitvegas.com (and hint - your fellow attendees are just as impressive as our speakers!) and see who you can be sharing a drink and a knowledge bomb or twenty with in Las Vegas in just a few weeks time -

And we’ll see you at Marketing Summit Las Vegas on 7th - 9th November 2022.

Let’s deal with disruption in the best way possible - together. 

Chelle Warner, Converting Copywriter and Voiceover Vixen. 😉