Bad plan is better than having no plan
Businesses require to reset the objectives, as the business environment has changed. Bad plan is better than no plan.
Praveen Vaidyanathan is a planning director in Sydney. He tweeted about how key performance indicators follow setting up objectives. Objectives for businesses can be targets for sales, profit or share. Objectives for marketing are customer growth, purchase and distribution. Business objectives and marketing objectives should meet. Then the teams should set up communication objectives.
He had borrowed from the book ‘How Not to Plan’ by Binet & Carter. It talks about 66 ways to plan. My favourite ways are:
Don’t define your competition too tightly and obsess over it.
Brand loyalty is a vague concept that can’t really be measured.
Conversion is a myth. Think nudging instead.
Engagement is another myth — people don’t want to engage. Online figures for large brands may look impressive, but they typically represent less than 2% of their user base.
Words matter a lot. The best briefs, written by the best planners, choose the right words in the right order.
Narrowly targeted media create the seductive illusion of cost efficiency, but trying to reduce so-called wastage can actually reduce your efficiency.