"The Blind Spot" Can Cost You Dearly: Avoid Disruption, Stagnation, and Lack of Growth
Indeed, just like driving a car, we have all experienced the "blind spot" in our professional management, evident once the immediately subsequent events with unwanted effects have occurred, both in our business and our performance.
The "blind spot" constitutes the inability to recognize the current conditions of the market, as well as the changes that are taking place. This lack of knowledge can prevent marketing professionals from missing opportunities, making wrong decisions, and falling behind competitors.
In my experience – further deepened as a consultant – by not having a focus on the "Consumer First," marketers miss opportunities and receive threats that harm their business, their performance, and that of their team. They often have a Frame of Reference or a very narrow panoramic view that usually leads to a lack of (re)knowledge of trends, changes, and direct and indirect competition in the primary and adjacent markets.
The Dangers and Costs of the “Blind Spot” Firstly, it can cause stagnation and lack of innovation, as marketing professionals become stuck and cannot recognize the changing environment around them. This can lead to a lack of growth and progress, with an inability to keep up with their competitors.
This may include marketing campaigns that could be more effective or strategies that need to be updated concerning the context. And this can also lead to a waste of resources.
Strategies to Avoid the “Blind Spot”
- Implement processes and tools that regularly challenge the status quo about what is being done regarding strategy and execution plans.
- Adopt a Consumer-Centered Approach and focus on your customers and their needs, considering "A day/month/year in the Life" and "the Consumer Journey" over which to explore opportunities for value creation.
- Reconsider the current Frame of Reference or Vision of the business or brand to consider a broader market environment.
This will help ensure that marketing professionals are aware of the trends and changes that are taking place in the market, as well as the opportunities and threats posed by their competitors. This may include changes in consumer behavior, new products and services, and new technologies. All this will always allow an updated strategy, reformulated and fine-tuned value proposition, and a growth plan, ensuring that they align with the current market environment.
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