Author Brendan Ford
Ivory tower syndrome can be the Achilles' heel to even the strongest of organisations. Just take the astonishing predictable example that the fellows at Martin Place have set of late. And whilst it’s easy to sit here and throw stones at the RBA and they're rather about face approach to monetary policy, it’s a stark reminder that even the untouchables can come undone when fuelled by hubris.
Even the best of us can find ourselves throwing such chestnuts out like “they should be buying our product over X’s”, “don’t they understand the deal they’re getting” or “it’s not the price….”. You might laugh but it’s statements like this that we hear all too often in times of market transition. The reality is many of us have had a good run over the past twenty-four months, taking full advantage of an economy that was on the equivalent of whatever Lance Armstrong took. But now is the time to get out of the ivory tower and really understand what your customers are thinking, doing, and equally not doing.
By now you’re probably wondering why some marketer is lecturing you about an ivory tower. It’s a bit that like pot calling the kettle black. Well, kinda, but we’ve got data to back up our position. And that’s just it. The data is telling a story now that it isn’t what it (economy) was. And it’s how we respond that will make all the difference. A small correction now in course could be the difference between you leaving your competitors for dead or what causes your business to enter a spiral of negative growth.
Now, more than ever before, is the time to review your growth strategy of which marketing and advertising play a major part. It’s time to understand what the data is really saying and what actions need to be taken to cement the growth goals you’ve set.
Don’t think of it as doom and gloom like the media might suggest. Think of it more like an amateur boxing match. It’s the competitor, and we’re all competitors if we’re in business, that doesn’t cower up and smile when they get tapped that will come out on top. At April Ford, we’re gloved up and ready to rumble because we see markets like this as the opportunity every good business should be waiting for. One that sets you up for the next cycle of growth.
Ivory tower syndrome can be the Achilles' heel to even the strongest of organisations. Just take the astonishing predictable example that the fellows at Martin Place have set of late. And whilst it’s easy to sit here and throw stones at the RBA and they're rather about face approach to monetary policy, it’s a stark reminder that even the untouchables can come undone when fuelled by hubris.
Even the best of us can find ourselves throwing such chestnuts out like “they should be buying our product over X’s”, “don’t they understand the deal they’re getting” or “it’s not the price….”. You might laugh but it’s statements like this that we hear all too often in times of market transition. The reality is many of us have had a good run over the past twenty-four months, taking full advantage of an economy that was on the equivalent of whatever Lance Armstrong took. But now is the time to get out of the ivory tower and really understand what your customers are thinking, doing, and equally not doing.
Ivory tower syndrome can be the Achilles' heel to even the strongest of organisations. Just take the astonishing predictable example that the fellows at Martin Place have set of late. And whilst it’s easy to sit here and throw stones at the RBA and they're rather about face approach to monetary policy, it’s a stark reminder that even the untouchables can come undone when fuelled by hubris.
Even the best of us can find ourselves throwing such chestnuts out like “they should be buying our product over X’s”, “don’t they understand the deal they’re getting” or “it’s not the price….”. You might laugh but it’s statements like this that we hear all too often in times of market transition. The reality is many of us have had a good run over the past twenty-four months, taking full advantage of an economy that was on the equivalent of whatever Lance Armstrong took. But now is the time to get out of the ivory tower and really understand what your customers are thinking, doing, and equally not doing.
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