Innovate or miss your “Target”

Innovate or miss the mark. Change is not only good, but necessary.

Target is the perfect example of failure to innovate. I am certain that the Target Corporation had the best of intentions bringing its promise of quality retail at low prices to Canada – only two short years ago.

The popular US retail giant had successfully positioned itself in the US as an upper-end discount store, and all indications were that Canadian’s were ready for it.

Why did Target fail to hit their target in Canada? Lack of innovation.

The Target brand launch in Canada was big and splashy. Colourful (note the Canadian spelling) Ads, with messaging that showed Target understood Canadians.  The creative and messaging almost invited the country to welcome the big kid from next door. I dare say that the Ads were even “Tim-Horton-esque

targetcomestocanada_ideahatching.com

The ads and fanfare brought excitement and a promise that the Target cache, products, and pricing model could be replicated for Canadian’s, who loved to shop at Target when across the border.

When Canadian discount retailer “Zeller’s”, succumbed to the competition in 2011, Target swooped in to save the day. Surely it was just that Zeller’s, the Canadian retail staple founded in 1931, and acquired by the Hudson’s Bay Company in 1978, failed to keep up with new superstore discount retailers like Wallmart. The Zeller’s stores that failed provided much of the initial space for the first Target stores to open in Canada.

Obviously Target had all the right stuff to make it right?

 

Innovate.Def

Wrong. Target failed to innovate.

 

Whether it was that Target did not understand retail in Canada, how to work in Canadian communities, or the government policies that may have impacted how they delivered on their brand promises, Target failed to meet the requirements to thrive in Canada. They rested on the success they had in the US, and did not recognize the need for change.

Target was not the first, and it won’t be the last brand that has failed to innovate while pushing forward into a new market, sustaining profitability, or attempting growth.  Even brands that have a unique offering, and strong brand have failed due to lack of focus on systems and process that may have worked at one time.

Think Blockbuster.

 

Had Blockbuster Video innovated by providing something like the new “Red Box” that now sits at the front of supermarkets – perhaps Blockbuster’s fate may have been different?

Or consider Netflix. Netflix launched in Canada in September of 2010 This is a brand that saw the opportunity in streaming video that came with increased access to high speed WIFI and mobile devices that could handle streaming media.  Netflix took the lead in delivering streaming content, and then showed innovation in producing the content as part of their offering.

 

Screen Shot 2015-01-27 at 10.12.16 AM

 

Netflix took a queue from HBO and Showtime – traditional content producers, and added what worked for them into their mix. They changed what they offered their customers, and provided more value.  More importantly, they innovated at a time where the competition could have left Netflix lost in cyberspace.

The Netflix model is now being replicated by others including Amazon with “Amazon Studios” and Yahoo!. Both are producing their own content, and adapting tactics that have worked in other mediums.

It was only in November 2014 that Canadian streaming media competitor “Shomi” – a joint venture between Rogers Media and Shaw entered the market as an alternative to Cable and Netflix.  Shomi came out of the gates as an alternative to the streaming service that Netflix offered in 2010 – in November 2014!

Bell Media’s “Crave TV” launched only a month later in December 2014, one month after Shomi. Need I say more?

Perhaps if Target had spent additional time and dollars in preparing to enter Canada, and more importantly considered how to manage products, services, people, and pricing that may be different in a new market – we would not have 17,000 Canadian’s unemployed as of last week’s announcement.

The moral of this story?

 

Innovation might be the next buzzword or hot catch phrase, but those who are actually putting it into practice will hit their targets.  Of this, I am convinced.

###

 

About:

Alicia Whalen is a process innovator, social media influencer, digital media evangelist, and Co-founder of the successful digital marketing conference – Online Revealed Canada – now in its 10th year. A Blogger at ideahatching.com, speaker, trainer, and lover of ah-ha moments. Tweet me @acoupleofchicks or connect with me on LinkedIn

PredictandPromote_ORC2015

 

Online Revealed Canada Conference:  Join us March 31-April 2 2015 in Toronto for the 10th annual Online Revealed Conference for digital marketing in tourism and travel.  After a decade of challenging the “old ways” of marketing online, and with a theme of “Predicting and Promoting A Look at The Future of Travel Marketing.” my partner and co-founder Patricia Brusha and I are excited to deliver a special 10th anniversary edition event with a new format, exciting venue and top speakers in the industry CONFERENCE REGISTRATION is now open.

I look forward to seeing friends and colleagues to share in where we have come and where we are going in digital marketing for tourism. What a ride it has been so far!

 

Article references:

  1. Financial Post: 2015/01/15 
  2. Financial Post: 2015/01/19
  3. Toronto Star: 2015/01/25

The beginning: One post, tweet and heart at a time

I am feeling especially reflective as we approach the end of another year. It may have been Christmas music and snow day that have brought me to this place. Maybe it is the Songza Singer-Songwriter playlist that did it.

Or perhaps it was the highlights of our collective social story over the past year highlighted in a Wall Street Journal article…but I digress.

Our use of social media in all area’s of our lives has made us “Life Scribes,” documenting not just pop culture and news applicable to the masses, but also the daily life, relationships, work, connections, the desires and dreams of well…everyone on the planet.

The way we tell our stories has changed.

heart

Our stories have become interwoven into all that we do. Media weaves over from our televisions, and into our Facebook timelines and tweets.

 

“Our moods move with the streaming song lists and Netflix binge watching.

We consume our media and share our stories, our music, our feelings.”

 

We share it all, across multiple devices, and sometimes while sitting in the same room. We watch and participate at the same time, and are all contributing to one big collective social story.

I wonder now where storytelling will go from here.

A tweet has the shelf life of about 30 min or less depending of course on your chosen #hashtag. A beautiful moment caught on Instagram may be shared a few million times.

 

What if we are simply flying by these beautiful moments?

 

Social media and our ability to always be connected and interconnected has made us all story tellers, journalists, photographers, artists and therapists. The devices that connect us to our social networks have enabled us to participate in our world, far outside of what we were able to do only a few years ago.

Consider that we are now getting birthday wishes from people from all area’s and times of our lives on Facebook. Well wishes posted to our walls from childhood friends, to business colleagues, to family and friends – allowing us a connectedness to people and experiences that would have been impossible to maintain and grow in the past.

We are sharing music, personal photo’s, locations, and are able to express ourselves with words; comments and reflections, and sometimes overused quotes from Deepak Chopra, Oprah, and of course Bethany Mota.

  We are now contributors to the collective story and not simply passive observers. We have a big responsibility.

 

I feel especially responsible to reflect on my highlights and observations as a student of digital media. I am excited to say that I intend to do this the good old fashion way.  I am going to write a book. This article is the start to my adventure.

This book might be written as a series of blog posts, or on Wattpad, but while reflecting on how we are telling our collective story, I am excited to tell my own in whatever place I am comfortable to do it.

Thank you for listening friends, followers and fellow scribes.

AliciaWhalen_stories

 

Toronto, Ontario, Canada
alicia.whalen@gmail.com
905-401-2249

Drop us a line

Yay! Message sent. Error! Please validate your fields.
Clear
© 2016 IDEAHATCHING