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Setting A Strategy for An Uncertain Future
The document discusses the importance of strategic thinking for everyone within an organization, not just leadership, emphasizing the connection between strategy and tactics for improved decision-making. It highlights techniques like possibilities thinking and lateral thinking to cope with change and uncertainty, while providing insights into digital marketing strategy and industry foresight. The author advocates for a proactive approach to future challenges by fostering strategic thinking across the company.
Setting A Strategy for An Uncertain Future
- 1. Thinking Less Tactically: Settinga Strategy for an Uncertain Future Allen Weiss, Ph.D. CEO/Founder, Marke:ngProfs, LLC Marke:ng Professor, USC Marshall @allenweiss
- 2. Should Only LeadershipThink Strategically? Strategy Tactics #socalbma Ÿ
- 3. When everybody thinksmore strategically (and can connect tactics to strategy), you get better analysis and better decision making #socalbma Ÿ
- 4. But Strategy NeedsHigh Level Thinking and… • Possibilities Thinking • Lateral Thinking #socalbma Ÿ
- 5. What Leaders Do Copingwith Change Management is about coping with complexity. Leadership, by contrast, is about coping with change What Leaders Really Do, John P. Kotter, HBR Dec. 2001
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- 7. Tactical Thinkers Strategic Thinkers Smallest group cando both #socalbma Ÿ
- 8. Digital Marketing StrategyObjectives Awareness (I know your name) Consideration (I’ll consider you) Intent (I intend to buy from you) Conversion Support (I need help) Engagement (I bought and like you – let’s talk) #socalbma Ÿ
- 9. Knowing the StrategyHelps Decisions on Tactics q Social Media - Customer Support q Social Media – Engagement Are your people asking WHY before posting to social media? #socalbma Ÿ
- 10. Possibilities Thinking n Focuson different possibilities n Play out the game q What will your competitors do? q What will you do in response? q What will they do in response to that? q Etc #socalbma Ÿ
- 11. China’s fourth biggestauto group #socalbma Ÿ
- 12. Their Market isChanging #socalbma Ÿ
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- 14. Lateral Thinking n “Whatis this Like” - in a different industry? q Focus on similarities with completely industries q Identify the dimensions on which they are similar q What have they learned, that you can learn from? #socalbma Ÿ
- 15. This is NotStrategic Thinking n I’m in B2B…. give me only B2B examples! n I’m in B2C…why show me what’s going on in B2B? n Just give me an example in my industry, not others! #socalbma Ÿ
- 16. This Is! “Teach mypeople how to sell tires.” Amgen CMO #socalbma Ÿ
- 17. And This IsToo… #socalbma Ÿ
- 18. Can a B2BCompany Learn From This? Columbia Journalism School 2010 Customize visitor’s experience based on branded search and number of pages visited #socalbma Ÿ
- 19. Can a B2BCompany Learn From This? #socalbma Ÿ
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- 21. Can a B2BCompany Learn From This? #socalbma Ÿ Blendtec presents, Will It Blend? - iPad - https://www.youtube.com/watch?v=lAl28d6tbko
- 22. Target Market: International,Government, Contracting and Relief Sales #socalbma Ÿ Volvo Trucks - The Epic Split feat. Van Damme - https://www.youtube.com/watch?v=M7FIvfx5J10
- 23. Lateral Thinking Isn’tJust Strategic, It’s Also Creative #socalbma Ÿ
- 24. Finally - ContinuouslyAnswer this Question n What problem are we trying to solve? n People tend to focus quickly on a presumed problem #socalbma Ÿ
- 25. Looking at Businessinto the Future #socalbma Ÿ
- 26. Industry Foresight n Thefuture is a point of view about q Future consumer needs and behaviors q Future technologies q Future competitors q Future regulations, environment, etc. q Future competencies q …and more much #socalbma Ÿ
- 27. Industry Foresight –How to Do It n Draw straight line (extrapolate) n Product/Industry Life Cycle n Isolate trends that are predictable and look for areas of instability in your industry n Others? Best done with convergent viewpoints #socalbma Ÿ
- 28. Example Scenario 2015 2025 Consumer& Technology Change, Competitor Shifts, etc. FutureToday Competencies Needed “Live life forward, but understand it backward” #socalbma Ÿ
- 29. Future Marketplace Example n Task q Create a model of the world for music retailing and distribution as it might exist in 2025 n Questions q What are the likely changes in retailer and consumer needs, competitors (new competitors, their future competencies, etc.), technologies, distribution, etc? q Present many different scenarios of the market evolution. Don’t try to be accurate or prophetic. The goal is to be plausible and credible. #socalbma Ÿ
- 30. TODAY FUTURE Look fora Strategy that is Robust Across Alternative Scenarios of the Future #socalbma Ÿ
- 31. Final Thoughts n Thinkmore strategically and into the future n You won’t be blind sighted by competitors and inevitable changes in the market n If everyone in your company can think strategically, you’ll have better managers and leaders for the future #socalbma Ÿ
- 32. Thank You e: amw@marketingprofs.com li:allenmweiss t: @allenweiss http://mprofs.com/training #socalbma Ÿ