Last week on 14th July we launched our Marketing and Communications bootcamp series with the first webinar on ‘Developing an effective marketing strategy to reboot your business’.
Alice Weightman, CEO of Hanson Search and The Work Crowd chaired the discussion, featuring panellists Patrick Muir and Alex Blanes.
Patrick Muir is a highly experienced NED and CMO, having built some of the UK’s most innovative businesses, such as Egg, Sherpa and Lombard Direct. Patrick previously held executive positions at blue-chip organisations such as Citi and Morgan Stanley and is currently the Remuneration committee chair and member of the audit and risk committees.
Alex Blanes is a marketer and digital polymath with six years of experience across education, executive leadership development, technology and public sector. He holds graduate degrees in science and digital media and is currently the Head of Marketing for a global publishing and events company.
Kick-starting the economy
“We’re all key workers now.” – Patrick Muir
Every economic recession is different – the cause, where the shockwaves are felt – but the fundamentals are the same. Patrick states that we need to look at the lessons learnt from the past in order to be the business success story emerging from the current crisis.
Staying relevant and assuming the new normal
Patrick claims that staying relevant is key to survival and it starts with being brutally honest. Businesses can’t forget the fundamentals of humanity and care when dealing with the consumer, especially in times of crisis. In the current climate, many customers are in basic survival mode and it is important to establish the customer’s position, determining if they are able to currently receive marketing as to not waste valuable time and resources. This ultimately means ensuring your message is relevant to the customer and their current position, pivoting priorities in line with their needs and expectations.
Company culture sets businesses apart
“All of us have necessarily slowed down. When we take advantage of the pause, creativity bounces back.” – Alex Blanes
Patrick highlights that companies with staff who are invested in the business will be prepared to go the extra mile and carry out exceptional tasks to help leverage the business. This commitment is established through investment in staff. Culture is endemic in client and supplier interaction. The culture of the ecosystem in which you operate becomes incredibly valuable and will make the rest of the year and beyond a more comfortable journey to navigate.
Alex adds that key aspects of marketing are changing: culture market fit goes along with the product market fit. Importantly, the enforced pause due to lockdown has allowed us to slow down and revaluate key principles of the business and customers. This means establishing humane conversations, transparency and authenticity throughout business.
Key advice for marketers in financially-strained times:
- Marketing may be seen as an additional cost. To navigate this, establish reciprocal arrangements with media outlets
- Find the audience and space in which to communicate with them, then find the most cost effective way, without forgoing effectiveness for cost-effectiveness
- It’s not about being a product leader anymore, it’s about being a category leader
- Businesses need to understand the core of the customer
- Authentic enthusiasm distinguishes businesses and gives them a compelling voice – insert this into every aspect of a digital presence
- Produce shareable content that generates engagement
- Make sure you’re selling what the world wants to buy
Next week’s webinar on 21st July will be on ‘PR and Reputation Management Masterclass’, so do register and join!
And if you are interested in attending other sessions from our 7-part Marketing & Communications bootcamp series, click here.