Reilly Newman | During uncertain times we see the market being divided into two groups. Those who react and those who respond.
When reactions are in control we witness knee-jerk actions at breakneck speeds. Harmful, half-baked, and perhaps that “hail mary” they watch with fingers crossed.
Responding is much like what we see with professional emergency response teams. From firefighters to the military and medics to the police, they respond to each situation accordingly. Effective, orderly, and forward-thinking.
This comes down to one fact. Strategy and tactics are not the same.
Strategy is the overarching plan based on the objective. Tactics are the moves you make to accomplish so. Tactics must be adaptable.
A restaurant only offering dine-in service is not a strategy, it is a tactic. That’s why in these times you see many, many restaurants now being forced to change their ways and offer delivery/pickup. The tactic had to change. The restaurants who will adapt successfully will see the many benefits of this forced evolution, these businesses will also be the ones who have a stronger strategy and positioning compared to their competitors.
By having a more complete strategy, the brand (how your audience thinks of your business) will expand into this new service and respond nicely.
Those who don’t have a strong strategy, won’t adapt their tactics as smoothly due to the forced reaction that now just feels they are selling to stay alive. (Remember, no one wants to know they are being sold to)
The point here is that only those who adapt will survive.
And those who have developed a brand, beyond just their business model, will adapt more successfully.
By understanding this, a business will see that whether the market is in an uncertain time or not, they should be forward-thinking. To be always adapting to the market conditions and delivering more value through these extended experiences of your brand. Don’t just be in the moment, that’s reactionary. Be proactive, look ahead and do an analysis. Be responsive so your tactics can adapt fully and your longterm strategy will only become stronger with time. Have a brand-centric mindset.
