A Quarter of Businesses Lack Forward Momentum, But Why?
Marketers surveyed for a new report that reveals how businesses lose their way – and how they can find it again.
A quarter of UK marketers feel their businesses lack forward momentum. That’s according to a new report by Our Design Agency (ODA), which reveals the steps companies of any size can take to regain lost brand momentum.
The ODA Brand Momentum report surveyed more than 80 UK marketers to find out why brands get stuck – and what the impact is on businesses when precious momentum is lost.
The research showed that there are numerous potential reasons for brands losing momentum, from dealing with a major change such as a takeover, to losing touch with core customer groups, failing to innovate, or gradually drifting into irrelevance.
Sarah Westwood, Creative Strategist, ODA, says: “Our research highlights some revealing trends. Nearly a third of our respondents feel their marketing lacks real traction and more than 40% feel that they are not innovating enough to discover unfulfilled customer needs. This suggests that there are plenty of companies out there who feel stuck – but don’t necessarily know what to do about it. Perhaps most crucially of all, one quarter of businesses feel their brands lack forward momentum.”
Losing momentum – and regaining it
The report features examples of brands that lost their way for various reasons and then found it again. For care home provider HC-One, for example, the challenge was to galvanise colleagues and embed an ethos of kindness throughout the business to move them forward from turnaround to transformation.
For Volition, a life sciences firm focused on developing blood tests to diagnose a range of cancers, the root of the problem lay in a discrepancy between the rather cool, detached public face of the company and the warm and caring personality at its heart.
Both companies were suffering from a lack of momentum and in both cases, this was holding them back. both found ways to inject fresh energy and purpose into their brands and moved forward with renewed vigour. The ODA report shows how these and other brands regained their momentum and offers advice to marketers about how they can do the same for their brands.
Sarah Westwood says: “Losing momentum is frustrating and can be potentially damaging for any business. And when you’re in the thick of it, sometimes it’s difficult to see the best path back to health. The causes can be complex and intertwined and difficult to unravel without fresh perspective. But our message is that you’re not alone – and there are steps any business can take to regain lost momentum. Taking these steps will help to reinvigorate your brand, it will galvanise your people, and it will inject fresh energy into everything you do.”
The White Paper is available to download on Our Design Agency’s website.