The mantra ‘listen, react, respond’ holds true, especially in today’s uncertain environment.
Listen to your customer: your customer is talking to you, take time to hear them. They talk through purchases made – through what they buy, how they buy it, how they reach your website and interact with it, returns sent, reviews, email engagement, bounce rates, dwell time, social comment and so on. Make sure you’re set up to listen and react to your changing customer signals. Tap in to what they say.
Now is the time to really understand how your marketing investments convert into profit. Don’t let perfect be the enemy of progress here. Be better tomorrow than you are today.
Think about AI as a new team member to deploy and onboard in the same way. A lot of automated roles have a degree of repeated tasks that are generally loathed. So, could automation save 10% on your headcount?
Live your Environmental/Social & Governance policy/beliefs right through the business. Again, remember it’s not just for your customers – but for you and your teams. You need to realise that the youngest part of the workforce is more motivated by ambitions and practices in this area than ever before. Ignore it at your peril.
While you can measure almost everything, you shouldn’t. Understand what the core metrics are that drive the success of your business are and double down your focus where it matters.
Make sure you understand what your leading (most predictive) metrics are and be sure to have a measurement frequency that allows you to spot behavioural changes early – and then, of course, make sure you do something about it!
Are you where your customer is being influenced? Seek out editorials on favourite media sites, integrated ads on blogs, content on most used platforms. Be where they are.
And, almost most importantly, have a clarity of vision that empowers bold decision making.
All-in-all, you need to understand the marketing mix and optimise it, then optimise within it.
This is where Tapestry can help.
If you’re looking to grow profitably, no matter what the markets and the world throws at you, get in touch with us at [email protected].
We’ll be happy to chat with you on how you can use your customer data to not just serve your existing customers better but also how you can discover and best recruit your new hero customers to power the growth of the future.
