REIGNITE GROWTH MOMENTUM
Growth rates slow for various reasons, particularly if we fail to renew a category’s or brand’s lifecycle. Principle reasons include a brand not delivering on its promises, or the brand’s promise isn’t for everyone (nothing is for everyone!), or there’s an attitudinal barrier that we must overcome to reignite growth, among many others.
I can remember how excited and relieved I was for my wife and me to receive our Covid vaccines. We received the Moderna vaccines and completed the prescribed 2-dose regimen on February 5.
To us, it represented “freedom” from the fear and anxiety of being afflicted and incapacitated with this pernicious virus. The vaccine also provided us the freedom to travel to be with family, get out of the house and frequent restaurants, hug and shake hands with friends, shop at familiar stores where we know the merchants and they know us, and live like the humans we are and have lived pre-Covid.
One would think that virtually everyone would want to be vaccinated, except in rare cases, so that they may toss away their masks, get back to work, and live life more fully.
However, while 163-million American adults have received at least one dose, representing about 49% of the adult population, daily administration of treatment has fallen precipitously. The NY Times reports that daily administration has declined from a peak of 3.4-million on April 13 to about 1.8-million on May 23.
While nearly 50% of adults are admirable, it is well short of the 70 – 90% the so-called experts (those medical professionals who profess and undoubtedly know more than I do) claim we need to reach herd immunity. Therefore, we need more people to get vaccinated to cross a targeted finish line and, hopefully, win our battle against Covid.
So, what gives? Why the slowdown? The answer regarding vaccinating for Covid is likely to be found the same way we address slowdowns in our businesses. Some areas for investigation include:
- Have we reached peak penetration of those who are eligible?
- Does the product fulfill the promise?
- Is it targeted to those who believe what we believe?
- Do we have sufficient supply to meet demand?
- Is there adequate access and ability to access?
- Is our messaging compelling?
Yes, there are other areas for investigation. However, the “one” I want to focus on is attitudinal barriers. Often, we’ll find our rate of growth slows or stalls after we attract those who believe what we believe about our offering. We face an attitudinal barrier among those whom we have not won over.
(PLEASE, let’s not politicize it! Don’t blame it on “Trump” supporters, even if they are in the majority of the laggards. Regardless of who supported whom in the 2020 election, we need to identify their specific attitudinal barriers. Also, don’t blame those people who “don’t believe ‘the’ science.” These are gross over-generalizations that don’t get at the actual attitudinal barriers.) MOREOVER, doing so lays the blame on others for our inability to gain a critical insight to win them over.
First, we need to identify the key attitudinal barriers that are retarding our growth rate and achieving target goals. Next, we need to brainstorm ways to remove them. Then we need to test and go broadscale to overcome those barriers. Once we lift the attitudinal barriers, we can reignite our rate of growth.
Discover the attitudinal barriers that are limiting your brand’s growth and get busy removing them.
Is your marketing based on “legitimate and productive” customer insights or “unsights?” My most recent book, AVOIDING CRITICAL MARKETING ERRORS; How to Go from Dumb to Smart Marketing, provides direction for discovering “legitimate and productive” customer insights. Learn more here: http://bdn-intl.com/avoiding-critical-marketing-errors
Peace and best wishes,