thoughts

noun (θɔːt)

SEARING, WORLD ALTERING, IDEA CAPSULES THAT FLY ACROSS THE CONSCIOUSNESS

Share of voice

Share of voice is a marketing term. Share of voice measures the percentage of media spending by a company compared to the total media expenditure for the product, service, or category in the market. So, what? Well, here is the so what. It has been shown, by actual, evidence based research, that the larger the share of voice of any given company the larger its market share turns out to be. Now, let’s substitute a few words in our understanding of share of voice and see what that can tell us.

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Who is selling what to pharmacy?

The big trade show in any sector is not necessarily the most reliable source of data to illuminate what is going on in that particular trade. They are often a cross between bun fight, popularity contest, shock and awe and that’s just attempting to get some healthy food at lunchtime. Read our analysis of changing exhibitor trends at the Pharmacy Show from 2019, through the pandemic, to 2021.

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Activity and action

There is a difference between activity and action though, which it’s useful to understand.

You can think of it like this. Activity is doing things. From day to day. Moment by moment. It maintains the status quo. More of the same. Faster, cheaper, better but the same. Action is changing things. From time to time. When it is needed. It alters the status quo. Something new. Different, more fitting, better and new.

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Customers don’t see functions

Customers don’t see functions. They have no idea which group of people within an organisation have done what when they come into contact with you. Finance? Nah. Marketing? Nope. Operations? Nada. They don’t exist from the most important perspective in any business, from the perspective of the customer. So why do these false divisions matter so much to those inside an organisation and is it helpful to think like that?

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Step out of the darkness

I’ve written before about the importance of understanding your customer and the fact that a startling number of people run businesses and organisations without taking the time to do so. The reality is that humans in general often prefer to focus on the broadcasting side of communication rather than the listening side.

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