In times of uncertainty, many marketers make the mistake of sticking with the tried and true – not because it’s the best decision, but because it’s the most comfortable.
Solely relying on what’s comfortable leaves you at risk. But being too ambitious might not always be the answer either. That’s why CMO’s must balance their marketing efforts between what’s comfortable and what feels like a risk. It’s like a surfer selecting the right wave. You have to read the signs, not to mention make sure you have the right gear. At least that’s what surfers tell me as they’re dragging my limp and battered body back to shore. But stay with me…
The two articles below can help guide your decision-making as you navigate these post-pandemic waters where customer demands have only increased, and economic uncertainty remains.
The first explores the dichotomy of the risk vs. reward mentality. When things are most challenging, seeking out the trusted and secure is a natural behavior, but that also leads to potential missed opportunities. Balancing risk and opportunity are critical in planning your organization’s strategic priorities.
Next, Business Chief outlines five suggested strategic priorities for CMOs in 2021, also featuring balancing risk aversion with market growth, along with other key focus areas, including reinvention, budget realities, expanding marketing and operational skills, and commitment to societal change.
This is a lot to consider, but the good news is, you don’t have to go it alone. At FARM, it’s our job to serve as your progressive marketing partner—to know what’s coming over the horizon and to determine how best to serve your company’s—and your customers’—needs.
If we can help, please give me a call.