Relevancy is everything in today’s marketing landscape. Things move at lightning speed in the digital world, so what worked for your business last year may not be very effective anymore.
Failing to adapt to change and sticking to the status quo can bring certain death to a business. For example, Kodak was once a powerful brand that controlled 90% of the United States’ film market in the 1970s. However, they never adjusted their marketing message and relied on old strategies to keep them afloat. Kodak failed to realize that customer’s priorities change. Today, consumers are interested in the actual story of a business, in addition to their product. Kodak failed to adapt to the changing priorities and nearly had to shut its doors after it declared bankruptcy, giving a whole new meaning to the phrase “Having a Kodak moment.”