In Theodore Levitt's book Marketing Myopia, he outlines four assumptions that are risky for businesses across any industry.

They are:

1. 'The belief that growth is assured by an expanding and more affluent population.'
2. 'The belief that there is no competitive substitute for the industry's major product.'
3. 'Too much faith in mass production and in the advantages of rapidly declining unit costs as output rises.'
4. 'Preoccupation with a product that lends itself to carefully controlled scientific experimentation, improvement, and manufacturing cost reduction.'

What does this mean in today's context?

1. Population growth doesn't guarantee audience growth. As marketers, the aim is to experiment and find ways to actively capture and retain attention in a multi-generational and multi-faceted environment.
2. Your brand is replaceable. According to the Jobs To Be Done framework, more brands are being 'fired' and new ones 'hired' at an increasing pace today.
3. Mass production of content doesn't ensure success. The word 'best' has been trending upwards in Google searches over 'cheap'. Quality and relevance trump quantity.

Data is great but avoid blind spots. Over-reliance on single-dimensional data points, without context and combined with highly controlled experiments or focus groups, might prevent you from discovering your blind spots.

Doom Scrollers, Fans, and Nerds

The 1's, 9's, and 90's is a concept by Jesper Åström cited in Andrea Phillips' book, Transmedia Storytelling for Creators, with the Engagement Pyramid. What the 1-9-90 concept and the pyramid suggest is:

• 1% of your audience are active creators (your honest friends).
• 9% are occasional contributors (those who thrive on their own social currency).
• 90% are passive consumers (doom scrollers or lurkers).

Each group requires a tailored approach within your content marketing strategy. The question then is, how?

1. Audit your marketing strategy against Levitt's four assumptions. Where are you most vulnerable? Where might you excel?
2. Find your 9's, recognise your 90's, and invite your 1's to collaborate.
3. What type of business are you really in (attention, productivity, transactional)? Identify that and articulate it.
4. Evaluate your channel and platform mix. Are you meeting your audience where they are?

How are you evolving your content marketing strategy? Can it adapt to the unknowable future needs of your customers?

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This article was adapted from Paviter Singh. See original post: https://www.linkedin.com/in/pavitersingh/