Randy does marketing work for a chain of forty bagel shops called Bagelettes. His days are relatively busy managing the different marketing strategies of these franchise shops.
While the company has a good reputation for always providing fresh food and great customer service in general, Randy is starting to notice that sales from six of his forty stores have recently been decreasing over the last several months and he is trying to figure out the reasons behind the decrease.
Randy thinks that his marketing efforts could use some improvement, but he isn’t sure where to start.
He has gained a lot of insight into his customer base over the last five years he has held this position, but sometimes finds it hard to turn those insights into actions that will drive positive change.
Over the weekend, Randy decides to attend a half-day marketing summit and discovers four values of disruption that he hopes will allow him to make better marketing decisions and increase sales in the six struggling stores.
Here is what he learned:
1. Challenge the status quo. Randy learns that his customers aren’t necessarily buying his bagels, but instead are buying why he does what he does, and this should be his motivation.
2. Culture mindset. Company culture is critical today and the mindset of Randy’s marketing team and franchise owners must be focused on big steps and they all must share the same goals.
3. Innovation. Many companies have already started on the road toward digital transformation and have automated repetitive tasks and implemented machine learning. Randy should do the same.
4. Product development. When Randy makes changes to his products, he needs to make sure that he gets his products in front of customers before they no longer have a use for it.
Machine learning is improving many aspects of both business and marketing, so it is essential that companies make the most out of machine learning and benefits that it can offer your organization.
If you want to know how multi-touch measurement can improve your transformation processes, click the link below for more information.