My Marketing Strategy
Nicolette Lemmon, President & Founder
Stock analysts, like Seeking Alpha, published an article by 24/7 Wall Street that identified 12 brands that seemed likely to disappear before the end of next year. These were big names including Budget (Car Rental), Borders, Crocs, Old Navy, and United Airlines. Also included were several that have already been bantered around as on their last legs such as Chrysler, AIG and Saturn. Some sentimental favorites were mentioned including Eddie Bauer, Architectural Digest and Esquire Magazine. Here is the full list.
Now, whether their stock analysis was correct or if it was suspect, the key was how quickly the information spreads on the Internet. Crisis public relations can barely react fast enough for the online world to stop sell-offs of stock from concerned investors. What’s worse, consumers who read it after seeing it mentioned on Twitter or in a sound byte on their favorite news home page, feel the need to spend gift cards so as not to get stuck holding worthless plastic should the giant brand disappear.
How does a company get this far where pundits are writing obituaries?
It’s the business model not working in a crowded marketplace, it’s the lack of keeping focused on the needs of the consumers, and it’s the ability to be lean and innovative enough to last.
And, how does a company ensure they will survive?
If there is an investment in the “marketing flywheel,” there is more likelihood that any company can survive. For if the strategy is implemented, tracked for results, monitored in the marketplace for relevance with customers, and modified or improved as needed, there should not be any surprises.