Being a Big Brand Is Not Necessarily an Advantage | Article – HSBC VisionGo
Knowledge changes your future. Being equipped with knowledge can make us realize the need to change.
Google and Facebook have had big headaches lately. Apple’s privacy measures have not only caused a few companies to make noise. Users have also been more sensitive about privacy issues. They threaten to abandon large corporates if they do not comply with their demands. Large companies like Google are forced to add Apple’s mandatory privacy labels in the App Store. They will be phasing out third-party cookies. Brands and advertisers need to pay attention to these changes.
Companies as large as Google, of course, have the wealth and power to influence what can change and what can stay. But alongside such huge advantages also comes a lack of adaptability. Sridhar spent 15 years building up Google’s advertising arm. While Vivek made Google a fortune through search and YouTube ads. Both decided to put users first and created Neeva, a search engine that prioritizes personal privacy and user experience. To all the large corporates out there, I hope you realize that there will be people who will walk out when the tipping point is reached. By the time companies realize this, it will probably be too late in the game. Google should understand this from its history and that of Yahoo!.
Digital Marketing Department: "I’m helping you! I’m helping you!"
Many big brands think that to tackle the ever-changing digital marketing scene, hiring a digital marketing manager or establishing a relevant department is all it takes. Without better support through company-wide strategies, it is difficult for a single department to spearhead advances in marketing as its influence will be limited. The scary thing is if management thinks that things are getting done and the “digital marketing department” also gradually slows down. It is a tragic tale of "I’m helping you, I’m helping you", which happens every day around me.
Choose Nimble Marketing
I have spent several years working in multinational companies as well as in an agency serving multiple regions. While resources were always available, what I dreaded the most was the drain in resources caused by overly complicated communications and unnecessary bureaucracy. Digital marketing needs to be able to react and execute strategies fast enough. So, I came out to be able to do marketing more nimbly. Fortunately, first- and second-tier brands have seen the advantages of engaging small agency services in recent times. The same can be seen of brands themselves. As it grows, complex structures and processes are often the reason for the brand failing to move forward. For example, there is an old procurement requirement that the lowest bid wins. After years of experience, many advertising experts, including myself, no longer submit bids for these and have come to learn the meaning of the phrase, "you get what you pay for".
Be Aware or Proceed Unknowingly
Knowledge changes your future. Being equipped with knowledge can make us realize the need to change. Without knowledge, one may unknowingly meet with death. Many brands offer training opportunities, and I have received many inquiries relating to them. Even if companies do not have sufficient resources to offer company-wide training, I would strongly urge providing training subsidies to employees. Most importantly, the management and business owners should be willing to upgrade themselves as well. If those at the top are not willing to upgrade, then there are only two ways forward. One is to wake up – although it is difficult for those at the top to do this. The second is to let them sleep soundly so that they do not disturb their employees who put their heart into their work. This is not something that I am speaking about without careful thought, but wise words that came from a working friend.