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1. The limitations of marginal thinking
'If you need a machine and don't buy it, then you will ultimately find that you have paid for it and don't have it' Henry Ford
This is a lesson to be learnt from Blockbuster and their failure to keep up with digital evolution in their market ultimately resulting in their decline. As people are more swayed towards using Box Office on Sky or Netflix, they are less likely to drive to Blockbuster to pick up a DVD. The company may have missed a trick by not getting involved in the digital way of thinking.
2. Settling for less
'The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it' Steve Jobs
It is easy to use the economic downturn as an excuse for lack of investment but 2013 is the year to stop thinking like this. Marketers need to champion the value of their work across the business, and in the boardroom.
3. The endless pursuit of meaningless ‘likes’
'Now is the Wild Wild West in social media' Chris Hirst, Grey London
Brands need to decide this year whether ‘fans’ or ‘likes’ actually mean anything positive to them and whether this suits their consumers as a way of attracting them. Investing time and money in all social media may be a waste, companies need to decide which social media outlet works best for them and invest time and money in this.
4. Email dependency
'Sending emails has become more "the thing" than actually "doing the thing"' Ajaz Ahmed, AKQA
At EWO we strongly support the fact that picking up the phone should always be the first port of call. Email has become too relied upon and although in some instances it is a great way to back up a detailed phone call, we must not forget the importance of the age old face to face communication.
5. Having it all
'My ego aspires to make it happen, but my authentic self is not sure it is worth it' Female respondent to the McKinsey 'Unlocking the Full Potential of Women at Work' report
Flexibility of a team is imperative in order to maintain the expertise of people who have family and other commitments outside of work. Having a work life balance is key and ensures that you get the best from your team. Motivation of a team is imperative for success. An unhappy workforce will not get results.
6. The dead end of discounts
'If you follow the road of price promotions, you will quickly realise it's a dead end, with no profits' Thierry Billot, Pernod Ricard
If the recession has taught us anything, it is that price promotion is not a sustainable marketing strategy. Consumers get confused by price-cutting and it is difficult to bounce back from. Never offer a discount – it is a preferential rate and ensures that the price you offer is relevant to the service you give.
7. Believing in business as normal
'Change is often seen as a threat, but to an entrepreneur, it's oxygen. It's what being alive and enthusiastic about business rests on. When the established way of doing things is in turmoil, new energy has the best chance to step in and succeed by doing things better than they've always been done before' Sir Richard Branson, The Virgin Group
Sitting back and waiting for the recession to be over will not work. Businesses need to act as normal as coming out of the recession will require the survival of the fittest techniques.
If you cut just one of these habits you will be looking at a positive start to 2013!