Given the digital hype, hoopla and hysteria, and the penetration of the Internet into lives, especially due to the proliferation of social media - though sporadic and overestimated in light of Big Data - I don't think, category-drive by 'demographic' market segmentation is sane anymore.
'Psychography', in place of demography, is an absolute must if a brand is really eager to capitalise on the present scenario, as well as willing to create a future instead of just reacting to the future - near or distant.
One thing, which I have been watching very closely, is that almost no brand is game to comprehend the very basic that society doesn't belong to market but it's just the other way round. So, the 'product-push' for trying to create an environment of consumerism is fine because sales is much needed, but at the same time, only sales can never save a brand - irrespective of its size and volume.
Another thing, brands are failing to take into account is... 'internal communication and training' to make business 'people ready'. For, no product or service is getting sold to zombies or robots but humans, hence big data is not even 20% of the job, needed to be done, unless proper understanding of 'consumer behaviour' is there.
Which is why, 'congruent emotional intelligence (EI or EQ) and emotional excellence (EE)' for management, for employees, for stake holders, and for market is a must, minus which productivity and growth are bound to suffer, today or tomorrow.
Without the 'congruent EQ and EE', it's simply impossible to leverage on the CRM, ignoring which is yet another trap brands do open rather unknowingly or by riding on their pomp, if not pomposity, so as to reach their graves in no real time.
It needs no rocket science to understand actually and factually that 'employees and channel partners' are the best and most loyal customers a brand can afford to have, whereas, on the other hand, customers vis-a-vis consumers (prospects included) are the real sales force awaiting to turn into brand evangelists, if served and satisfied at an emotional level via functional offerings.
Just the reason, investing on Training, Internal Communications, CRM and CSR are imperative today for a brand's sustainability and growth through 'people readiness', exploiting science, psychology, and, to some extent, philosophy, that are neither templated nor just technology.
It requires a different kind of investment on TIME (which is more precious than Money is, because one moment lost is lost forever, but one Rupee lost can be earned later on even as 100 Rupees), IDEA, INTENT, and, most importantly, EMOTION (which is no sentimental outbursts though; thus should be devoid of 'Neuroticism' i.e. Emotional Instability).
In case you care to know, understand and realise these 'sure success' things in a bit dipstick way, please look at and into the snaps below:
(Click on them to enlarge)
I reckon they have given a fair idea what needs to be done for a business / brand in modern times.
In short, marketing and marketing communications are all great things to do, provided you are open to accept that it's not IIMs that made or make you happen, but it's you and many others like you i.e. 'Humans' who made and make IIMs tick, drawing people's awe to the Brand IIM.
Give this, if you are interested to make things happen, productively, eliminating all the chances of going haywire in the name of marketing and marketing communications, think of Training, seriously and sincerely.
And for that, we, at QESEQ International in association with Teamcoach International (Malaysia), are ready to get things done 'with you for you'... in order to help you leverage on the 'Congruent EQ and EE' through the LPI -Leonard Personality Inventory - which is based on FFM (Five Factor Model) of Personality Trait Identification and Decoding, and is much better than the MBTI Personality Test Model which is incomplete, incompetent and doesn't even address the most important factor of one's Personality i.e. 'Neuroticism'.
To reach us, all you need to do is, just send an email at qeseq.international@gmail.com
PS: You may not write to us immediately, if you have enough time, money, energy and emotion to waste and can watch, happily, how others, including your competitors, succeed for sure.
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