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Calculated Gambles: How to sell a Risky Strategy

In the ranks of my peers and attached professionals, a silent disease flows that is rarely detected on time, but no, I am not referring to a viral problem or a genetic problem. This disease is rather manifested in our collective difficulty in admitting the errors that certainly abound in our field and our trade. The customer is not always right, the product is not always good, the strategy is not always the best and we certainly do not always know everything. Did you feel that sting in the ego? You see, there lives the disease. But although this introduction is somewhat negative, I ask you to believe that it is not my intention at all.

On the contrary, the objective of this note seeks to put our compass in perspective and perhaps we can, together, redirect our efforts and realize that even in blind adversity there is hope for profit.

Let me be even more precise. The term strategy is one that in recent years has gained meaning with a forceful weight, which seeps into the meeting tables of large corporations and ambitious startups as if it were the ideal manna. And it is understandable that in this maelstrom of ideas and demands, brand managers, strategists, marketing executives, and design masters fall and get carried away by those deadlines or by the fashion tool that brings that extra color to our presentations. , leaving very much for granted, that the material we are dealing with is a gift from the gods. Nothing is further from reality.

A brand strategy is a smart bet and not an accommodating sequence of robotic actions. Please do not confuse these huge differences.

The title raises the objective of how to sell a risky strategy. Perhaps the question is rather, risky for whom? or for what? In the dynamic landscape of brand strategy, taking risks is often essential for staying ahead of the competition and making a lasting impact. However, convincing stakeholders to embrace a risky strategy can be a daunting task.

Now, let's take our feet off the gas for a minute and slow down. Allow me to address some concepts, to know where we start from. First, what is the risk?

Before pitching a risky strategy, it is crucial to thoroughly understand the potential risks involved. Conduct a comprehensive analysis of market trends, consumer behavior, and competitor strategies. Gather data and insights that highlight the potential benefits and drawbacks of the proposed strategy. By being well-informed, you can confidently articulate the rationale behind your approach and mitigate concerns.

Image: Marat Vahitov

So far we can see that responsibility elapses with more emphasis on the procedure of how we approach the problem and not on the theory of our actions. Just because we wear a Brand Strategist badge doesn't make us immune to the investigative process. Exercising the logistical and mental tools to see the whole picture is a skill that should be a mandatory step in our professional agenda. Re-learning to feel ignorant about a topic or objective will help us to immerse ourselves fully in the investigation.

Remember Elon Musk? I do not intend to discuss his television appearances or his now obsession with marrying a robot, but I would like to remind you what he had to face in the skeptical years when he started TESLA, a company that carried on its shoulders the weight of an icon of engineering and the name of one of possibly the brightest minds to ever live on earth, but that glow of genius was a far cry from corporate reality. A project based on hope could not live on the back of wanting to be a disruptive factor in the long-lived automotive industry. Quite the contrary. Elon convinced his investors, adding his project to the obvious changes that society was going through regarding climate change. We are also talking about a relevant timing of intention. You can reinforce this interesting perspective in the Harvard Business Review article, “Does Elon Musk Have a Strategy?”.

Selling a risky brand strategy requires a combination of strategic thinking, compelling storytelling, and persuasive data. By thoroughly understanding the risks, crafting a compelling narrative, presenting a solid business case, and addressing concerns, you can effectively convince stakeholders to embrace innovative and bold brand strategies. The examples mentioned above illustrate the power of risk-taking when supported by careful analysis and effective communication. Everything goes through a very human line of communication, which on the front line can be a more than effective bridge in these moments. Don't underestimate the impact of a trusted face and an honest narrative.

Now, I need to do a little parallelism in this scenario. Although a strategy is far from the execution mechanics of a PLAN, is there then room for creativity? Offering to address a strategy with obvious risk limits our ability as professionals to nurture our creative factor proposal.

Let us remember that as strategists our adventure does not happen alone. On the contrary, the Swiss army knife we have has many perfectly usable channels. Advertising, public relations, and social networks are just some (of course, relevant) of the tools that we can use. That being said, creativity in this context must be seen and managed as a driver of innovation. I am not talking about the artistic improvisation of creativity within the imaginary classic, but in a situation like this, a brand strategist must try to have as a measurement parameter, how innovative we can be and if that will have an impact that gives us an advantage against a risky strategy.

At the same time, it is important to highlight the process that we are going to follow to reach small conclusions that build our strategy. Much of this lies in the importance of research. This load of knowledge acts as a solid support to dilute any doubt that may arise in the core of investors and any apprehension that could arise in the face of possible risks.

Offering this type of evidence, well structured and supported by specialized opinions, are infallible and rational arguments in the face of the inevitable fear of the exercise of risk.

As Seth Godin, a renowned marketing expert, once said, “The riskiest thing you can do now is be safe”. In an era of constant disruption, playing it safe can lead to missed opportunities and irrelevance. It is the brands that dare to challenge conventions, adapt to changing landscapes, and embrace calculated risks that emerge as industry leaders and game-changers.