In almost half a century in our industry, I’ve participated in hundreds of strategy reviews. And although I’ve published a couple of million words about the differences between strong and weak strategies, I’ve neglected one small but essential cog in the strategy machine – the questions that senior executives ask to encourage their strategy teams to think harder and do better.
In this series of articles, I’ll share the four challenges that often flummox brand leads and other strategists. More importantly, I’ll share how the smartest strategists are able to answer those questions. In this article, I’ll begin with the killer question that sorts the strategising wheat from the chaff.
What do you know?
Think of a nightmare strategy review scenario that you never want to be part of. After you have presented a detailed, comprehensive analysis of your market, the senior person in the room compliments you and has only one, little question: “What do we know about the market that is useful, valuable and our competitors don’t know?” The simplicity of the question belies its power. Rarely have I seen convincing answers. Too often, I’ve seen strategists splutter, stammer and waffle their way through. Try asking yourself that question now. Most strategists, if they’re honest, struggle to answer it convincingly.
Read the article in full here.