Is it time to rethink marketing?
Marketing could be the saviour your business needs as we embrace the "next normal".
Like no other time in history, this is the moment for team work. Every How Communications client is currently looking at ways to quickly bring their teams, suppliers and contractors together ready to embrace and innovate towards the "next normal".
Now is the time to rebuild and rethink the way marketing functions. Why? Because it's imperative that every dollar spent on marketing right now supports the business to reach new heights. Why? Because I truly believe marketing can lead an organisation to embrace innovation. Why? Because if not now, when?
Now, to be fully transparent, I've been following the wise words of McKinsey & Company through the coronavirus crisis. One of their missives recently took my fancy. This piece "From surviving to thriving: Reimagining the post-COVID-19 return", is interesting from a total business perspective.
The table is below is recreated from the McKinsey piece.
The "Marketing Efficiency" plot point is worth exploring further; I've used the same framework and plotted the critical marketing actions that can be rebuilt and reimagined in order to reach a maximum state of efficiency as quickly as possible.
Of course, the variables here are many: existing infrastructure, team skill, efficiency of incumbent agencies and coordination between marketing, sales and IT.
However, this framework could be a beneficial starting point as we enter into the next, new, now normal.