Welcome to this fresh episode of the WalkSessions, while taking my usual stroll. I got an idea that came to me and it’s mainly the toddlers business strategy. Well, I don’t have any children yet. But I have experience in raising my nieces and nephew.
What I observed from Children are some important to use cases that you can embed into your business. Now let’s take an example of a young boy who would like to have some ice cream from his parents.
So, he tries his luck and proceeds to ask Dad if he can have some ice cream, in case the dad says, No, this will get them thinking on how to change his approach to convince Mum differently.
So, when he goes to mom, he bargains profusely and even throws a tantrum and mum eventually accepts. So when I observe that specific example, there are key aspects that you can pull out.
The toddler has segmented his communication approach whereby when dad rejected his request for ice cream, he changed his communication approach so that it can suit the mom’s preference additionally you can see that he is persistent and consistent his persistent asking for it.
So with that being said, if you push it into the line of business, it’s important to:
1. Segment or niche you approach is based on your audience.
For instance, if you look at the food space, Mcdonald’s mainly has the Nasi Lemak burger is mainly available in Malaysia and this product only suiting the Malaysian audience.
2. Be persistent and consistent.
If you look at the beverage brands, especially now for me, what I’m focused on is mainly Fanta, the ads are very persistent and consistent. You’re going to see them everywhere all the time and that’s bound to push it to at least make a purchase. And the one that comes top of my mind is the bamboocha ad campaign.
I saw that ad often and everywhere, on billboards, in the media and on tv. And this drove me to give the beverage a try. So you can see the two important dimensions of Niching & segmentation of niches, persistence and consistency being well utilised for business excellence.
However, there’s one more element that I see from toddlers that also businesses can take on.
3. Adapt to your clients
if you look at the example when toddlers are learning how to walk, When their initial attempts to stand up and walk a few steps fails and they fall the next attempt will be them utilising the support of walls to hold against and walk while holding onto them.
This clearly means that they are using whatever is in their environment or adapting whatever’s in their environment to ensure that they walk. So if you look at it in the line of business, the keenest example I can see is the banking industry where their clients are mostly mobile-first.
This has forced many of them to shift their operations onto mobile apps and a shift in some of their services onto the mobile platforms specifically.
For example, Standard Chartered bank Uganda that has the Digital Life account where the entire account application process is done on their app, whether it’s registration, submitting your documents for the KYC (Know Your Customer). All that’s done online using the app.
Another financial institution that has taken the mobile-first approach is AIB in Ireland where the mortgage application is 100% done on mobile. So, you can observe that all these approaches are happening based on the consumers’ changes that are moment mobile-first.
Conclusively, your business strategy should have these dimensions well thought out and be ready to adjust when the need requires.