I see it way too often! Companies so focused on their internal issues that they lose sight of what is happening in the marketplace. While staring at their analytics they fail to see that customer needs are changing. They are focused on optimizing their current programs and blind to emerging new methods. And no one is immune to marketing myopia. Not even the best.
AdAge reported that Coca-Cola CEO Muhtar Kent made the following comments during a recent analyst meeting: “There was a period when our company did lose its way,” he said. “We were too internally focused and not focused enough on the changes taking place with our consumers and customers. In essence, we were too busy looking at the dashboard and were not sufficiently paying attention to the world outside of our windshield.”
Here are three signs you may be more myopic that you think:
- Your annual marketing plan has extensive coverage of your goals and little mention of customer needs.
- Your regular reports highlight changes in program performance and ignore changes in buyer behavior.
- Your management discussions are all about selling more product and not about attracting more customers.
As you think about what you will be doing differently in 2010 I’d encourage you to put “leading the fight against marketing myopia” near the top of the list.