Gaining a competitive edge is important, even more so in the current economic climate. In recent weeks within the UK we’ve seen some key names on the high street go into administration including HMV, Jessops and Blockbuster.
Whilst having a strategy in place is core to the success of any business, it is also important for that strategy to be flexible enough for brands to react as required. Furthermore, it is important for brands to have the ability to be as nimble as possible when an unforeseen situation arises. In an ideal world, companies should prepare for unpredictable and unforeseen events and proactively react to the situation – proactive reactivity! This is something that is becoming ever more important and impactful given the social world in which we live.
Take last weekend’s Super Bowl; without a crystal ball to hand, who would have foreseen a black out? Not many! Who would have predicted that a brand could be up and running with a tactical response to the black out before the powers that be got the lights switched back on? Probably no-one.
It is true that the Super Bowl comes every year and it is well known as the biggest day for advertisers in the US, so arguably brands spend a whole lot of time, money and effort to get the most of the sporting event of the year. However, I bet there are a few brands that are more than a little bit impressed by Oreo’s forward thinking approach, ensuring they were ready to react whatever the situation!
By having their design agency, social media team and management team together and prepared to respond to whatever happened on the night they were able to design, caption and approve an ad in minutes. An ad that they tweeted resulting in 12,000 re-tweets in just 2 hours, which is social media gold dust. Yes, they had to ensure the right people were in place and ready to go, but compared to the price of a TV ad in the Super Bowl, we’re talking peanuts.
Having previously worked in the finance industry in the UK, the idea of being able to get a tactical piece of marketing out of the door in minutes seems unfathomable to me. I cannot imagine that the relevant people from marketing, social media, brand, legal and compliance and the SLA’s to which they may work would be able to do it.
I do believe that brands now, more than ever, really need to cut down on the red tape wherever possible, so that they can be more responsive, as there is simply no point responding once the moment has been and gone.
I appreciate that there are rules and regulations that brands must adhere to (and in some industries these can be quite restrictive) but cutting this down as much as possible is going to become increasingly important.