Business - c3centricity

Adopting a Customer First Strategy. Even the Police Can Get it Right!

Posted on August 28, 2022May 3, 2024 by Denyse Drummond-Dunn

In most countries, the population have a love / hate relationship with their police. You can imagine my surprise, therefore, to find myself writing about how they appear to be adopting a customer first strategy in Switzerland!

Let me explain. A few years ago they introduced a new-style speed radars in the villages around my home town. The elements are not that new per se, I know, but last week it suddenly hit me why these speed cameras seem to be so effective. It’s simple; they’re customer centric! The Swiss police have adopted a customer first strategy! And that’s why I want to share more about this story here.

Background

One of the reasons why the Police are disliked in many (dare I say most?) countries, is because of their insidious speed controls.

Whether they are permanent fixtures as on the right, or temporary ones, we all dislike the flash that tells us it’s too late, that we’ve been “caught.”

We then wait a few days, to weeks or even months, naively hoping that it wasn’t our car that was flashed. But eventually the letter arrives asking us to pay a fine.

I think the worst of them all are the laser guns that the Police have been using for many years now. We don’t even know we’ve been flashed until the communication arrives at our home! Or we are pulled up a few hundred meters down the road.

The relatively new types of radar that are being introduced in my home area don’t flash either. But that’s because we never get “caught” as such.

You see they measure our speed and give us immediate feedback. Take a look at the photo on the right; I’m sure you’ve seen such installations before in your own area.

Now if we make the assumption that all four types of equipment are to get road users to decrease their speed in critical areas – and not just to gather money as I’ve heard suggested – then the results must vary widely.

So let me share my thoughts from the perspective of a customer first strategy champion.

What This Has to Do with Your business

So why is this example relevant for you and your own customer first strategy? Well, ask yourself what you really want for your business?

In the case of the police, I am assuming that they want to reduce the speed of drivers in certain areas and make the roads safer for everyone. In this case, the customer-centric approach, which has by far the most success at slowing drivers down to within the speed limit along a larger portion of the road, is the information panel. If that is their objective, then the Police in every country should adopt these new style radars.

But if those who consider speed checks to be a mere money-making operation are right, then the Police will continue to use one of their other options. And they must accept the … Click to continue reading

Never Give Up! How to Succeed in Business When Everyone Else is Failing

Posted on November 2, 2021September 12, 2024 by Denyse Drummond-Dunn

We all want to succeed, don’t we? Succeed in business and to succeed in our private lives as well.

I was recently reminded of a famous and inspiring quote from Winston Churchill’s address to Harrow School in the UK back in 1941. It was certainly one of his shortest speeches, but probably also one of his most quoted. He said:

“Never give in, never, never, never, never”

You can read his full speech – which is not much longer! – here.

Hearing this quote got me thinking about failure. Failure in our lives, our businesses, our jobs, our relationships. And more importantly, about how we often fail merely because we give up too quickly. Unfortunately, we’ll never know, but we can do something to avoid failure. We can do a lot!

Now whereas I believe that advising you on your private life is best left to my other platform https://finding-your-happy.com, I do feel sufficiently knowledgeable to speak about your business failures here.

I recently wrote about the 7 reasons most companies fail to adopt a customer-first strategy. They were the conclusion to a post on what a customer-first strategy is, and what it isn’t. If you missed it, then click the link above to read the full article.

If you want to learn more about how to adopt a customer-first strategy, then I’m sure you’ll be interested in checking out my new course called “A Customer-First Strategy for Accelerating Brand Growth.” It is a success roadmap for putting your customers at the heart of your business for faster growth & profitability.

Over the many years of blog posting, I’ve written many posts on numerous topics, including my solutions to failing in countless areas of marketing. I therefore thought it would be useful to share four summaries of the most important articles related to failure in business and innovation in a single post. Let me know what you think.

How you React to Failure Could Help You Succeed in Business

For this first summary of a post, I’d like to share not a list of solutions but a selection of inspiring quotes on reacting to failure. I think it sets the stage beautifully for the three other summaries to come.

In the full post (which you can read by clicking the above link) you can also find suggested actions for each of them. They will make you realise that there is great opportunity in every failure! So don’t be afraid to fail. Just don’t miss the chance to learn a valuable lesson!

1. “It’s fine to celebrate success but it is more important to heed the lessons of failure” Bill Gates, American Businessman

2. “Failure is not fatal, but failure to change might be” John Wooden, American Coach

3. “By failing to prepare, you are preparing to fail” Benjamin Franklin, American Politician

4. “Failure is simply the opportunity to begin again, this time more intelligently” Henry Ford, American Businessman

5. “The difference between average people and achieving … Click to continue reading

Should CMOs Concentrate on Brand Building or Business Growth?

Posted on May 27, 2021October 4, 2024 by Denyse Drummond-Dunn

Which is more important, brand building or business growth?

Do you remember when Coca-Cola did away with their CMO in favour of a Chief Growth Officer? Then two years later they brought back the position. At the time, I asked if they were wise or foolhardy to make such a change, but they answered the question themselves!

In an interview with Marketing Week, their global vice president of creative claimed that it had “broadened” the company’s approach to marketing. Obviously, this didn’t live up to their optimistic expectations. I think that other companies who followed suit, also realised that they need a CMO after all. However, their role has changed significantly.

HOW MARKETING HAS CHANGED

Marketing is an old profession. It’s been around for hundreds of years in one form or another. If you’re like me and are fascinated by how change happens, then I’m sure this complete history of marketing Infographic by Hubspot will be of interest.

With the arrival of digital marketing in the early 80’s, many companies began to take a serious look at their marketing. They realised that their primarily outbound strategy had to change. Their consumers didn’t appreciate being interrupted in their daily lives. However, with the creation of inbound marketing, they still irritated their consumers with spammy emails, popups and “subtle” cookies for following their every move. No wonder the EU felt inclined to develop its GDPR (General Data Protection Regulation).

What has changed over the past five years is marketing’s deeper awareness of, if not complete adherence to, what customers like and dislike. The major trends that we have seen and their impact on marketing, include:

Chatbots, especially through Facebook Messenger and WhatsApp, to catch consumers on the go with highly personalised messaging.
The use of voice. With the battle between Amazon, Microsoft and Google in the voice search and commands domain, customers can get answers just by asking. This is a huge challenge for businesses because being on the first page of search results is no longer enough; you have to be first!
Video is taking over social media, with its rapid rise on YouTube, Vimeo, Twitter and Facebook.
Influencer marketing is giving way to customer journey mapping with the increased detail that IoT can provide. Many organisations have moved their marketing plans to mirror their customers’ path to purchase. Or rather paths, as personalisation continues to trump mass engagement.
Zero-party data. As social media platforms have seriously reduced the collection of their subscribers’ data, brands are increasing their direct engagements with their consumers. Through polls, quizzes and competitions, they openly ask for consumers’ details, bypassing the need for cookies.

Have you taken these megatrends on board and adapted your marketing accordingly? If not, why not?

BRAND BUILDING

In the past decade or so, many large CPG companies such as P&G and Nestle renamed their Marketing departments as Brand Builders, in the hope of adapting to this new world. They failed, miserably.

I believe the reason they failed … Click to continue reading

The Good, Bad and Downright Ugly Parts of a Head of Marketing Job

Posted on March 7, 2021September 12, 2024 by Denyse Drummond-Dunn

Did you know that the average tenure of a Head of Marketing continues to fall, reaching just 41 months according to the latest Spencer Stuart research published by the WSJ?

It is still one of the shortest average terms of office of any chief in the C-suite, according to a recent report by Korn Ferry. But one piece of good news in the past year is that although conditions for CMOs have become more difficult since the coronavirus pandemic, “In many cases, CMOs are not being removed, but it’s been pretty dramatic layoffs beneath them” said Greg Welch, practice leader for marketing, sales and communication at Spencer Stuart.

So just how long have you been in your position?

The Bad News

A global survey by the Fournaise Marketing Group provides one possible explanation for the continued decline in tenure. It highlights the ongoing tensions between CEOs and CMOs. A huge 80% of CEOs don’t trust or are unimpressed with their CMOs, compared to just 10% for their CFOs and CIOs. Why is this?

Perhaps it’s because CEOs don’t understand the role of a CMO or is there still an issue with the ROI of the marketing budget? I’ll let you be the judge of this in your own situation.

Another piece of research by HubSpot reported that Marketing as a career suffers credibility issues as well. It ranked the most trustworthy jobs, with Doctor ranking number one and near the bottom, just above Car Salesman and well below Barista, was “Marketer”. Car salesmen? Really? That is scandalous!

The Opportunities

Let’s start at the beginning. What opportunities are there, for marketers to keep their jobs? Despite the short lifespan of a CMO, and while the position is plagued by high turnover, this could also be because CMOs are highly visible.

Therefore they can be targets for promotions or a steal by their industry competitors. Nice to feel wanted, isn’t it?

It is understandably important that a new CMO quickly makes an impact. More so than any other c-suite function, bar the CEO of course, who sometimes faces almost immediate criticism by shareholders and the financial world, upon being named.

Another piece of good news for the head of the marketing function is that being on the executive board they have access to resources. The bad news is that as the CMO is a member of the EB, management expects them to make (profitable) changes fast.

And even more so if they have just been hired! The board trusts the new CMO to analyse the situation, identify what needs to be done, develop the plan to do it and then take actions. And all of this in their first 3 months or so!

Are you or have you yourself ever been in exactly this situation? If you have, then you understand how tough it is, don’t you?

That’s why many CMOs hire a supportive advisor or sounding board such as myself to accompany them on this stressful early part of their … Click to continue reading

How to Cheat Your Customer – or Not!

Posted on January 31, 2021October 4, 2024 by Denyse Drummond-Dunn

Does your company try to cheat your customer?

Is it because you think they won’t notice? Or do you believe that enough people are willing to buy your brand for the first time, that you don’t need to worry about getting that second purchase?

Either way, you haven’t heard that the most important attribute a brand needs to build is trust!

With so many purchases being made online these days, there is a growing number of articles exposing the behaviours of organisations that obviously haven’t adopted a customer-first strategy. Companies who still think it’s OK to try to attract customers and entice people to make that all-important first purchase, with less than honest promises.

I know that this has always been the case in some industries and companies. Brands try to convince people that what they have to offer is exactly what their potential customers need – even when it isn’t. However, in today’s socially connected world, it surprises me that many organisations continue to believe that they can “get away with it” whatever “it” might be!

Perhaps they are not aware of what they are doing. Perhaps they think no one else will notice. Whatever the reasons for such practices, I thought that it is once again time to call them out with some new examples of the more common behaviours. Some of them are even from large global multinationals who should know what they are doing! Such a shame – but it does make for some fun reading!

Dishonest labelling

In many cases, packaging is the first personal contact a customer has with a brand. Whether in advertising or on shelf, based on what they see, people will quickly decide whether or not your brand is worth investigating further. If so, they will read on, or if in-store they will pick it up and read the label, perhaps comparing it to competitive brands.

Here are some examples of the different tricks some brands play in the hope of attracting that first purchase. However, these tricks will only lead to a disappointed purchaser and will rarely lead to repeat purchases.

I know we’re currently in Winter in the Northern Hemisphere and most of us are in lockdown, but we are certainly already dreaming of the day we can get back out and enjoy family bar-b-qs.

And many of us will want a bright and happy design covering our table. This tablecloth looked perfect in the pack, but despite saying it is printed all over, the design is only on the border. It is packed so that only the design shows, so most would never even read the back of pack.

I’m a big fan of L’Oreal and regularly get drawn to their new products. Again I wouldn’t have checked the back of pack to understand the meaning of the word “new” printed on the front label, would you?

Obviously we need to pay more attention to what is written on packs as in this case, … Click to continue reading

How to Succeed in Leadership, Marketing, Innovation and Insight

Posted on July 21, 2020June 1, 2024 by Denyse Drummond-Dunn

Although I love quotes, especially about how to succeed, I love success even more. Do you?

One of my favourite quotes on the topic of success comes from Winston Churchill during his address to the Harrow School (UK) during WWII in 1941. It was one of his shortest speeches but probably one of his most quoted. He said:

“Never give in, never, never, never, never”

If you are interested, you can read his full speech – which is not a lot longer! – here.

Hearing this quote again recently, got me thinking about failure. Failure in our lives, our businesses, our jobs, our relationships. And you must admit that we are just at the beginning of the impact of covid on the world and I know we need to prepare for a lot of failures in the coming months and years. But I ask myself how often we fail merely because we give up too quickly?

Another of my favourite quotes on success and failure comes from Napolean Hill:

“Most great people have achieved their greatest success just one step beyond their greatest failure.”

Now whereas I do advise people today on how to find more happiness in their lives (See my new website on intuitive coaching at Finding-Your-Happy.com), I want to address here the many current and possibly future failures in business.

Another recent post of mine concentrated on why companies fail in their adoption of a customer-first strategy. You can read it here: 7 reasons most companies fail to adopt a customer first strategy. This was a follow up to another popular post on what a customer-first strategy is, and what it isn’t. If you missed it, then you can read it here: “What Customer First Strategies Really Are (And What They’re Not!)”

Over almost a decade of blog posting, I have written many other articles which include my solutions to failing in countless areas of marketing. I, therefore, thought it would be useful to share four of the most popular ones here in a single post (Links to original full-length posts in titles). Let me know what you think.

How you React to Failure Could Make You a Success

For this first summary of a post, I’d like to share not a list of solutions but a selection of inspiring quotes on reacting to failure. I think it sets the stage beautifully for the other articles to come.

In the full post (which you can read by clicking the above link) you can also find suggested actions for each of them. They will make you realise that there are great opportunities in every failure! So don’t be afraid to fail. Just never give up!

1. “It’s fine to celebrate success but it is more important to heed the lessons of failure” Bill Gates, American Businessman

2. “Failure is not fatal, but failure to change might be” John Wooden, American Coach

[easy-tweet tweet=”“Failure is not fatal, but failure to change might be” John Wooden, … Click to continue reading

How to Improve Customer Centricity in Hospitality

Posted on June 9, 2020September 6, 2024 by Denyse Drummond-Dunn

The title of this week’s post might surprise you. After all, the hospitality industry should be highly customer centric, as it relies on satisfying its guests.

However, it can learn a lot from consumer packaged goods (FMCG/CPG), as I shared with industry experts at a Faculty Day of one of the leading hospitality schools in Switzerland. Having spent most of my career in consumer goods, I was invited to share what the hospitality industry could learn from the industry. From the reactions at the end of my talk it seems that the answer is a lot!

It might surprise you, but the two industries have a number of similarities. They both (should) have their customers at their heart. And they are both founded on pleasing and hopefully delighting their clients in the quality of the products and services they offer.

During my presentation, I shared many ideas; here are a few of the points I covered:

#1. From ROI / ROR to ROE

There has been a lot of discussion in the past few years about the need to move from a return on investment to a return on relationships. While I agree with the importance of relationships, I believe that what we should be talking about is engagement. Despite many books touting the need for our customers to “Love” our brands, in reality, I’m not sure that any of us want to have a deep relationship with brands.

The relationship is based on more than just the brand. It is founded on trust and confidence in the product, the brand’s website and their engaging communications. Think Coca Cola and Red Bull as great examples of this.

#2. Build Relationships with Strangers

The hospitality industry is based on serving and satisfying its guests. But in today’s connected world it also needs to consider people who are currently strangers – but could potentially become guests. These may include the friends of past guests, who have heard about the hotel or restaurant and are interested in visiting it for themselves.

One good example of this, but I know many hotels are also doing it, is the Rosewood Mayakoba resort in Mexico. This wonderful hotel encourages its guests to photograph their experiences during their stay at the resort and then to post them on Facebook.

This not only provides free publicity for the hotel, but also enables it to start engaging future guests before they even arrive. In addition, the posts will certainly have a positive influence on website visitors. And the guests who publish their photos, will have an even stronger positive impact on their friends and followers. After all, they will more than likely have similar tastes and desires.

#3. Value is more Important than Price

Having additional control of our lives today, means that customers are re-evaluating what they are offered. They have higher expectations and are more discerning in their choices. They expect recognition at every touchpoint, even if in reality their decisions are influenced by … Click to continue reading

The Secrets to Growth. How to Get New Customers

Posted on December 18, 2018October 4, 2024 by Denyse Drummond-Dunn

This shorter than usual post was inspired by a great question on Quora about how to get new clients. Although my original answer was for a web design company, most of my ideas are relevant whatever industry or profession you are in. I therefore wanted to share my answers to the question in the hope of being of help to businesses large or small.

First let me say that if you’re struggling to grow, then you’re not alone! I imagine that this won’t make you feel much better. But please remember that business, especially entrepreneurship and freelancing, is for those who are strong of mind and spirit. There are going to be days, weeks or maybe even months of highs and lows. However, these shouldn’t make you question why you do what you do. For me, as a longtime entrepreneur, it’s the freedom that more than makes up for a day or two without a new client signing me up. And if you work in the corporate world, then it is the chance to impact the lives of thousands or millions of people for the better.

Wherever you work, one thing we all have in common is the need and desire to grow the business and get new customers and clients.

A few ideas for you to think about and above all to action!

Whatever ideas, tips, suggestions you may read or hear about, it is only in the action that you will make a difference. This article is no different. So when you’ve finished reading the post, stop reviewing your emails or surfing the web, and start planning your actions. We all go looking for answers, but only a few of us act on them when we find something useful. Be the exception and beat the competition!

As an aside, this is why my book “Winning Customer Centricity: Putting Customers at the Heart of Your Business – One Day at a Time” (includes link to download some sample chapters) is in a radically different format from every other business book out there. It has 50 chapters, but each one is only two pages long! Two pages of objectives, actions, examples and ideas, as well as an inspiring quote and a fun cartoon. It finally makes learning enjoyable again. Isn’t that what we all want? Now back to the answers.

1. Who were your Past Customers?

Let’s start with where you are today, or were yesterday. What were your past customers’ similarities? Go out and find more like them, using the same method they used to find you.

Was it word of mouth? Then ask for recommendations from them and your closest network. Was it through LinkedIn? Then make some new connections that are similar to them. Reach out to a segment of those who are most like your past customers and you think may have similar needs.

Any of these ideas will bring you more new potential customers than most advertising spend ever will. This is because you are … Click to continue reading

Why You Struggle To Meet Your Business Objectives (And how to Crush them)

Posted on December 8, 2017September 14, 2024 by Denyse Drummond-Dunn

“There may be customers without brands, but there are NO brands without customers!”

I am often quoted as saying this and yet I still find most companies spend more time thinking about their brands than their customers, which is alarming to say the least! And you?

Last week I spoke about identifying the exact category in which you are competing. If you missed it, then I suggest you read “You’re Not Competing In The Category You Think You Are!” before continuing. You will never be successful if you don’t understand the category people put you in and the competitors they compare you to.

In the post, I explain that we often work with a category definition that is based upon industry norms rather than that of our customers. For instance you might segment by price or demographic groups, whereas your customers group brands by flavour or packaging.

Understand how customers see the category and its sub-segments can make a huge difference to your success in satisfying your own target customers.

This week I want to continue the theme of taking the customers’ perspective by speaking about our own business objectives. You know, the topics that make up our business and marketing plans with such lofty ambitions as:

Grow our market share to X%
Become the category captain/leader in Retailer Z
Launch three new brand variants

All of these may be valid business objectives, but they are not customer focussed. They start from the business perspective.

Adopting a customer-first strategy means turning business objectives into customer aims, by taking what is sometimes referred to as a bottom-up, rather than a top-down approach.

Here are some questions to help you identify your customers’ aim, their attitudes and behaviours that you are trying to influence:

1. Who are you targeting?

Every brand has a target audience. This is a sub-segment of all category users. Yes, you do need to segment users and target the most relevant and most profitable group of them for your brand, and then ignore the rest. If you are trying to appeal to everyone you end up pleasing no one!

“If you are trying to appeal to everyone you end up pleasing no-one!”

2. Why are they currently using your competitor’s brand?

In order to attract your competitors’ customers, you need to understand their motives, why they are preferring the competitive brand to your offer. This information can come from many sources, such as market research, social media, or care centre contacts.

3. What reason might make them consider switching?

If you are to appeal to your competitors’ customers then you must be able to satisfy them at least as well, and ideally better than does their current brand. What do you know about the criticisms customers have of the brand? What benefits do you offer and they don’t, or only partially? Could these be appealing to some of their customers?

4. Why do you believe that you can appeal to them now but didn’t before?

Do you have … Click to continue reading

7 Essential Steps to Successful Business Projects (A Useful Roadmap)

Posted on September 11, 2017September 14, 2024 by Denyse Drummond-Dunn

Although there is no magic bullet to transform your business into a successful powerhouse, I have witnessed similarities amongst those that grow more profitably. And what they have in common is the process steps of their business projects. Why not compare your own to the elements below and see how good yours really are?

Here are my 7 secrets to managing a successful business project. At first view, you might think that they are rather basic, but can you confirm that you have them for every project you run? If not, then they are well worth checking out. And they will be useful to you, whether you are just starting out or are looking to take your business to the next level.

1. A Support Team

As is often said to motivate us into exercising more:

“Change is more fun when there’s more than one.”

But this is relevant in business too. No-one ever changed a company, let alone its culture, by working alone.

Therefore start by gathering together a group of like-minded people as your support team.

If you are a solopreneur, like myself, then this is even more important, if not vital to your success.

You must have a sounding board to share ideas and get differing perspectives. People you can meet for a coffee or lunch so you don’t spend your days in your (home) office, behind your desk and in front of your computer.

Social media and Facebook groups are great for daily connections, but nothing beats the more intimate face-to-face discussions a personal meeting provides. So make sure you include two or three of them in your weekly agenda.

If you work in a corporation, no matter its size, choosing the right group of team members will ensure that you have support to bring about the required improvements. Internal change is more a cultural than a process challenge so a team made up of members across the different departments will provide you with the necessary support.

And what I said about face-to-face meetings applies to you corporate slaves too. Don’t always take a coffee or go to lunch with your team or the same group of people. Take the opportunity to discuss with people you don’t normally come into contact with. They are likely to be in different departments and have new ideas and perspectives to share.

2. A Plan

I know, most of us don’t like planning, we like action! I’m with you there! But it is a necessary evil, even vital, for success. As Alan Lakein, the writer of several self-help books on time management, is famously quoted as saying:

“Failing to plan is planning to fail”

The content of a plan will obviously depend upon the objectives, but at a minimum, it should include details about:

The problem
The objectives and desired outcome / changes
Team members and their needed experience
Others who need to be involved and / or informed
The suggested approach
The information needed in

… Click to continue reading

Sourcing and Services Matter: Why Price Alone Won’t get your Customers to Stay

Posted on May 5, 2014September 14, 2024 by Denyse Drummond-Dunn

Price wars are a standard challenge of marketers, whether working on the retail or manufacturing side. They have become more frequent in the last couple of years following the recession. Consumers are today even more price sensitive and are searching for great value and even greater deals. However as most retailers are now claiming lower prices, it becomes less of a differentiator. I therefore read with interest that Walmart is moving from its emphasis on low prices to one on sourcing.

In 2007 Walmart replaced its “Always Low Prices, Always” slogan by “Save Money Live Better”, so this new push with the message “ Made in the US” is worth noting. This latest announcement is made in conjunction with its promise of an additional $10 million in grants to non-profits focused on “on-shoring” manufacturing efforts.

Target announced last October its plans to introduce the “ Target Sustainable Product Standard” which was developed to “establish a common language, definition, and process for qualifying what makes a product more sustainable.” Target will ask vendors to complete an assessment that is designed to determine a sustainability score for their products. Products will be assigned a score of between zero and 100 “based on the sustainability of ingredients, ingredient transparency, and overall environmental impact”.

Both these initiatives show a move to a more caring retail environment. A study run by the Boston Consulting Group at the end of last year, found that more than half of companies with sales greater than $1 billion are actively planning or considering to bring production back from China to the U.S. This rise from a mere 37% just six months earlier shows a significant shift in American sensitivity.

Jumping across the “pond” to the UK, something similar is happening in terms of shifting attention from price to value, or should I say values?

Tesco recently introduced their “ Price Promise”, a pledge to match the price of a basket of both own-label and branded products at Sainsbury’s, Asda and Morrisons, or to offer customers a voucher at the till for the difference. Sainsbury’s has appealed to the Advertising Standards Authority, arguing that this claim was misleading customers. However, their wrath was, in part at least, sparked by the fact that this new Tesco pledge came in response to their own highly successful “Brand Match” scheme, although the latter only compares branded products.

Sainsbury’s has now retaliated with the launch of a new campaign with the title “ Same price, Different values”, a possible dig at the fact that although Tesco won the ASA appeal, Sainsbury’s might appeal as they claim that their own-label products cannot be compared since many are locally produced. To support this position, the National Farmers’ Union has now taken a stance, backing Sainsbury’s. In light of last year’s horse-meat scandal, the values of retailers and the sourcing of food has become even more crucial, and Sainsbury’s sees this latest row as an opportunity … Click to continue reading

The Great Trends Hoax: They don’t give a Business a Competitive Advantage

Posted on August 31, 2012September 14, 2024 by Denyse Drummond-Dunn

Do you follow trends? I bet you do! Everyone likes talking about the future, imagining what it might hold and then taking pride in seeing that they were “right”, that what they had “predicted” has come true. If this is how you work with trends, then you must read this post – urgently!

There are many trend providers today, from futurologists, to trend agencies, to gurus, all claiming to have “the truth”. An ex-colleague of mine made an interesting comment to me last weekend, as we hiked up to the top of La Dole, one of the small hills in the Lac Leman area of Switzerland where I live.

We were discussing trend following and she was comparing the providers with which her company had worked in the last five or ten years. Which of them “had got it right” and which ones hadn’t. I said that I wasn’t too keen on businesses working with trends alone, as there was no competitive advantage in doing so. She then made a wonderful comment: “You’re right of course. In fact when you go to these meetings to hear about the latest trends each year, you are sitting with a group of 20, 50, 100 or often even more people, all hearing the same presentations and “predictions”. If you all go back and start working on actions to respond to the future that was just presented, you’re all doing the same things and are in a way actually making the predictions come true”.

As I said, I have never really liked working with trends other than for developing plausible future scenarios, but she had put one of my concerns into words; you don’t gain competitive advantage from following trends. Whilst they may at best provide indications of some tactical actions you might take in the short-term, trends cannot help you develop your vision and strategy.

So if you want to achieve the real advantage of following trends and to get a head-start over your competition, then it’s time you started developing your own future scenarios. How? Well, here’s a 10-step approach that I have found has worked with many of my clients, which assumes that you are already following trends of some description:

10-Step Process

Identify the most relevant trends for your category from all those that you are currently following. This evaluation is often best handled by your market research and insight group, who have access to a lot of information, both internal and external, and not just on trends. If this is a new area for you all, you may decide to seek some external support to help you make these first difficult choices.
Invite a group of about 10-15 people from various departments within the organisation and who have ideas about what will happen in their different areas of the business, to join your “Futures” team. I have found that when invited, few refuse and in fact more ask to join the group when they hear about it, than