“Success in management requires learning as fast as the world is changing.” – Warren Bennis
There is no doubt that the world is changing at a very fast rate. The global geopolitical and socio-economic conditions are playing a significant role in pushing through these changes. Not all of these changes are good; some are bad; however, we have no choice but to adapt and keep on going. For example, wages are stagnating while costs are climbing. The threat of wars and regional conflicts is affecting the supply and demand of certain raw materials, which in turn is driving prices up. Consequently, the direct and indirect effects of these changes are forcing business owners and marketing managers to relook at how they market their brands.
The impact of social media on marketing strategies
Furthermore, technological advances and the rise of social media are adding to the need for marketing strategists to rethink their branding and commercialization strategies. It is estimated that up to 50% of the world’s population has access to the internet via one or more mobile devices. It must also be noted that the social media comments and posts are playing an ever-increasing role in whether a product or brand is successful or not.
For example, let us assume that you are a business owner and a consumer has a bad experience with one of the products you sell . To make matters worse, your client services division has given the client the impression that they are not interested in solving the problem. Consequently, you can be certain that the client’s negative experience will be all over social media in no time at all. Not only will the consumer post about her experience on social media, but it will be forwarded all around the world in a very short space of time.
Can you imagine what damage this can do to a product, brand, or company? Consequently, you or will have to spend all of your energy in damage control efforts, instead of planning new, exciting, and effective marketing strategies. The reality is that negative reviews can impact your business operations to such an extent that you might end up losing your business.
Professional management consultants
To avoid such drastic situations, and to ensure that you are always keep abreast of the latest marketing trends, I believe that it is important to hire a group of management consultants in Brisbane. Why? Well, simply stated, management consultants are experts at ensuring that they are skilled, experienced marketing managers and strategists. They make it their business to keep up to date with the latest technologies, marketing trends, and strategic advances. Ergo, this places management consultants in a strong position to guide and advise you on the best way to market your products and services. In the event of negative product reviews, they will notify you on the best way to mitigate the damage, as well as ensuring that your sales figures continue to grow.
I believe that it is advisable to consult with specialist marketing managers and strategists to navigate your way through through the complexities of running a successful business in spite of the challenging times that we live in.