June 18, 2014 - Comments Off on Take the fear out of change – embark on a journey of discovery

Take the fear out of change – embark on a journey of discovery

Change. To some brands it’s an opportunity; to others it’s a threat. Whatever your attitude is to embracing change, it always represents a degree of risk. But embrace it you must, because it never goes away. Change is constant. Change is good.

At Bloom, every one of our clients faces many different kinds of change. They’re found at the heart of every strategic plan, and in the decisions we make to put those plans into action. The further out the strategy plays, the more we venture into the unknown; the greater the impact of assumptions, the more ‘what if?’ scenarios and the bigger the risk of failure.

The principles that apply to each of our clients haven’t changed. These include establishing brand or product positioning, creating credibility and confidence, generating demand and delivering on promises. But the marketing mix and their impact on business strategy have changed – and they continue to change.

It’s natural for an element of fear to be associated with change – especially for our larger clients, since they face greater risks if the impact isn’t what they hope or expect. There’s nothing wrong with fear because, without it, complacency could easily set in and increase the chances of failure.

However, the bigger risk is to do nothing. That’s because change doesn’t kill brands – standing still does.

The cave you refuse to enter holds the treasure you so anxiously seek. (Native North American Proverb)

For us, developing and growing a business is a journey. It’s about remaining curious, discovering what’s next and creating unique solutions. We don’t let curiosity die because when it does, creativity soon follows.

The challenge for some brands is that they need to be steered in direction with a high degree of early warning so they can better manage the risks associated with change in order to grab that unfair share of opportunity.

The boardroom has long been the place for that, with performance management dashboards and key performance indicators helping the CXO make ‘finger on the pulse’ decisions to manage any potential change or risk.

And this traditional approach – where ‘push’ strategies and competitive threats took time to take effect – was, at the time, reasonable. But we now live in a digital world, which has already changed traditional business dynamics.

In this interactive world, the individual has taken advantage to create a ‘pull’ effect that can very rapidly drown out the ‘push’ strategic thrust – as well as enable competition to move into any vacuum created.

The journey has therefore now become even more about discovery – which is why we provide our clients with access to the tools, intelligence and services that allow them to manage these ‘push-pull’ dynamics in real time – as well as the curiosity that keeps them agile and prepared for whatever change occurs next.

Informed decision making can be the difference between success and failure – or winning that unfair share of the market.

Stay curious.