Posts Tagged ‘Tesla’

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POWERSHIFT MARKETING THIS WEEK #5

February 25, 2019

THIS WEEK #5 (FEB 25-MAR 3) – This week, I am departing a bit and focusing on one theme: Embracing change. As a marketing coach, I see businesses simply not engaging in the research and planning needed to be relevant in the future. I thought I would pull a few headlines from the news to show that no industry can avoid dealing with change.

CHANGE BRINGS TOURISM UNDER ATTACK

Many Destination Marketing Organizations (DMOs) are run by chambers under a city or county contract. Today, many of these relationships are facing dramatic challenges to their very existence because DMOs have not invested in the independent research needed to reassure constantly changing and skeptical elected officials that public money is being spent wisely.

The Roseburg Area Chamber and Visitor Center is in this fight right now. The city council refused to renew a three-decade agreement because, as the Council President stated, “We just don’t know if they are doing a good job or not.” Back in 2012, we were fortunate to be hired by Roseburg to do an independent study that proved that the Chamber was doing an outstanding job. Their contract was renewed. Not sure why they didn’t update this study for this contract round. We are still waiting to hear from Roseburg.

Here’s the flip side to this story. Tillamook County hired us to establish a baseline study five years ago before they launched their marketing effort. They have continued to update this study constantly. The result? New and old officials continue to be confident that public money is being invested wisely because they have an independent analysis. Bottom line: If you are a DMO you can’t afford not to have an independent, professional research program in these changing times. Don’t delay, call us now. Can you justify your existence to constantly changing public officials?

BEING FIRST IS UNIMPORTANT

Just because you’re an industry pioneer, it doesn’t guarantee longevity for your business. Your market is constantly changing. This became painfully clear when Bridgeport Brewing announced that its 35-year run was ending, a casualty of poor sales in a crowded craft beer market. When founded in 1984, America had fewer than 100 craft breweries, now there are 7,000 (and counting). I saw this market change first hand when I was on the marketing team that launched Southern Oregon Brewing. It also closed after a short run for similar reason, hard to get statewide distribution in a crowded market. Remember, in a changing world, if you are only maintaining the status quo, you are falling behind.

HAVING A GREAT PRODUCT IS UNIMPORTANT

Wall St. Journal Reporter Ben Walsh reports that everyone is trying to build electric vehicles—including General Motors and Ford. Walsh stated that one of the biggest pressures that Tesla faces over the next couple of years is the advent of new, fully electric vehicles (EVs) produced by established luxury-car makers such as Jaguar, Mercedes, Audi and Porsche. Yes, Tesla has a great product. But if you can’t meet demand, at competitive prices (which are constantly dropping), who cares? A great product or service won’t protect you from a changing world.

STAYING RELEVANT IS IMPORTANT

Virtually everyone in America has a cell phone, which makes smartphones a non-growth market. If you led the smartphone revolution like iPhone (June 29, 2007), what do you do in a mature market? You must embrace change. That is why Apple recently announced that they are reordering priorities and leadership across services. Several projects have been put on hold while new managers are given a chance to reassess priorities. This shift reflects Apple’s efforts to transition from an iPhone-driven company into one where growth flows from services and potentially transformative technologies. Are you prepared to leave your cash cow product or service behind and embrace a new one?

Until next week, thanks for reading. As always, contact me if you have any questions or topics you would like me to cover.