{"id":90462,"date":"2020-10-01T17:30:19","date_gmt":"2020-10-01T21:30:19","guid":{"rendered":"https:\/\/digitalmainstreet.ca\/?p=90462"},"modified":"2020-10-01T17:30:19","modified_gmt":"2020-10-01T21:30:19","slug":"rethink-ready-how-to-prepare-your-business-for-whats-next","status":"publish","type":"post","link":"https:\/\/digitalmainstreet.ca\/fr\/rethink-ready-how-to-prepare-your-business-for-whats-next\/","title":{"rendered":"Rethink ready: How to prepare your business for what\u2019s next"},"content":{"rendered":"
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Originally posted on the Think With Google blog. Please subscribe\u00a0sur ce site<\/a>\u00a0for more great content!<\/strong><\/p>\n

In business and marketing, it\u2019s not that the core challenge has changed: Deciding on the investments and steps needed to get your business ready to take action on your product, channel, or consumer strategy is still essential. Instead, it\u2019s the traditional idea of what it means to be ready for what comes next \u2014 including the familiar playbooks and proven approaches so many businesses relied on in the past \u2014 that\u2019s grown outdated, in the space of just a few months.<\/p>\n<\/div>\n<\/div>\n

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In the last six months alone, we\u2019ve probably experienced 10 years\u2019 worth of change.<\/p><\/blockquote>\n<\/div>\n

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The good news is that the twin challenges of profound disruption and uncertainty also present businesses with an opportunity to rethink readiness. To reimagine how to best meet consumer demand, even as it fluctuates, and even if it remains volatile. Today, businesses have more data and consumer signals, are better able to act on them, and can meet a higher standard for doing all of this more responsibly than ever before.<\/p>\n

Research Google conducted in partnership with Deloitte<\/u><\/a>\u00a0found that Fortune 1000 board members believe marketing, in particular, can be an engine for business growth, if led by 21st century CMOs who embrace value-creating roles, such as\u00a0Innovation Catalyst, Capability Builder, or Growth Driver<\/u><\/a>.<\/p>\n

Leveraging these advantages can do more than help you find and capture growth by meeting the demands of the moment. It can also provide you a significant business advantage and help equip your business with the agility and resilience needed to be ready for whatever comes next.<\/p>\n

How do we know this? Because many of the most disruptive trends businesses face today \u2014 such as keeping up with rapidly shifting consumer demand; creating and maintaining reliable chains of supply and delivery; and making sound business decisions quickly enough to keep up with competition \u2014 aren\u2019t really new at all.<\/p>\n

In 2020, the pace of these and other prevailing trends accelerated so much that, in the last six months alone, we\u2019ve probably experienced 10 years\u2019 worth of change.<\/p>\n

In that same brief span, we\u2019ve seen businesses embrace digital transformation and thrive. What do I mean by digital transformation? It\u2019s not just \u2014 or even primarily \u2014 about building a better e-commerce site (as important as that is). It\u2019s about using data and technology to upscale your product and channel capabilities.<\/p>\n

Here are a few examples that support the case for digital transformation.<\/p>\n

1.<\/b>\u00a0Let data inform your new product strategy<\/b><\/h2>\n

After learning that nearly every domestic and international flight would likely be grounded for months, airlines were forced to cut their losses and look for new growth models. The team at a major U.S. airline used aggregate Google flight demand data to identify routes with low clickshare and high search demand. They then used those information cues, in combination with first-party data, to prioritize the reopening of some routes over others. Today, this airline has a new product strategy.<\/p>\n

2. Alleviate uncertainty in your channel strategy<\/b><\/h2>\n

When the pandemic threw the entertainment industry into flux, traditional distribution strategies no longer applied. Studios faced a choice. Should they release new films directly to streaming services? In theaters with existing demand? Or both? Google helped one major film studio analyze search interest for a new film at the zip-code level to determine whether and where demand existed for a theatrical release. A similar approach can and, in fact, already is being used to optimize retail and QSR distribution and marketing strategies.<\/p>\n

3.<\/b>\u00a0Satisfy dynamic consumer demand<\/b><\/h2>\n

When millions of newly at-home consumers accelerated the shift from offline to online transactions, CPG brands faced an urgent need to expand their retail and digital partnerships to develop a compelling online presence and offering. In a program piloted in Italy, Google used signals and data to help brand advertisers drive and measure lower-funnel performances and shift some offline trade activities and budgets to digital.<\/p>\n

Meet customer needs with meaningful action, at scale<\/b><\/h2>\n

These examples show that satisfying dynamic consumer demand is where today\u2019s tools and technologies are best suited to helping businesses get ready for what\u2019s next. Because today it\u2019s possible to do more than just meet the explicit needs revealed by the consumer journey. Today you can meet consumer demand in real time, at scale, and in ways that people find meaningful. And that\u2019s a recipe to grow your business.<\/p>\n

We tested this in a new piece of research,\u00a0Rethinking Readiness<\/u><\/a>, where we created ads that went beyond meeting explicit search behaviour, and spoke to a range of real human needs that often go unspoken \u2014 things like \u201cinspire me\u201d or \u201cmake me feel taken care of.\u201d<\/p>\n

We imitated elements of Google\u2019s automation tools and information cues to deliver those ads to participants in the study. We found that these ads drove up to 30% higher click-through and more than 15% higher purchase intent \u2014 above and beyond ads that already had basic personalization.<\/p>\n<\/div>\n<\/div>\n

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The ads worked not because they were personalized, but because they were meaningful.<\/p><\/blockquote>\n<\/div>\n

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What\u2019s more, people responded to ads that communicated these deeper meanings even more than to ads focused on things they said were most important to their purchase decisions, like product quality and value for money.<\/p>\n

The ads worked not because they were personalized, but because they were meaningful, sparking a more than 31% increase in excitement and an over 50% increase in pleasant surprise, while reducing indifference by 68%.<\/p>\n

Our research showed that even moderate use of Google signals can yield more meaningful ads that drive big results, including double-digit jumps in purchase intent, click-through, brand love, and brand trust \u2014 metrics that matter to all marketers.<\/p>\n

So what\u2019s the enduring lesson? The tools and insights available to marketers today uniquely equip you to be drivers of business growth and resilience. And in these ever-changing times, Google\u2019s unwavering commitment is to help you get ready for whatever comes next.<\/p>\n

For more tips on how to ensure your business is ready for the accelerated pace of change, check out our white paper,<\/i>\u00a0Rethinking Readiness.<\/i><\/p>\n

Originally posted on the Think With Google blog. Please subscribe\u00a0sur ce site<\/a>\u00a0for more great content!<\/strong><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Originally posted on the Think With Google blog. Please subscribe\u00a0here\u00a0for more great content! In business and marketing, it\u2019s not that the core challenge has changed: Deciding on the investments and steps needed to get your business ready to take action on your product, channel, or consumer strategy is still essential. Instead, it\u2019s the traditional idea […]<\/p>\n","protected":false},"author":1655,"featured_media":90463,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-90462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nRethink ready: How to prepare your business for what\u2019s next - Digital Main Street<\/title>\n<meta name=\"description\" content=\"2020 has been a year unlike any other. A pandemic that upended daily life and routines. 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