Staying Relevant: Tips from Coats PLC, Madonna, and the Music Industry

February 10, 2013

After hearing Madonna’s recent single with Nicki Minaj and M.I.A., I couldn’t help but think how many times Madonna has reinvented herself. 

Imagine if Madonna was still producing cassette tapes performing in grunge-inspired wedding dresses—would she still be relevant? If she were still trying to “strike a pose” on VH1’s Top 20 countdown, would she still be the best-selling female rock artist of the 20th century? Probably not. The truth is, if you don’t evolve and adapt to meet the changing needs of your audience, you’re no longer relevant.
 
B2B companies can learn a lot from the dramatic changes in the music industry over the past decade. Not only have consumer tastes and preferences changed, but technology has changed the way people consume, communicate, and share. Expectations are higher, attention spans are shorter, and business models are changing. The end result—staying relevant requires constant engagement and innovation.
 
While it’s no easy feat that Madonna has stayed in the spotlight for over 30 years, it’s even more impressive to be one of  the world’s oldest global companies and still be going strong after 250+ years. Coats PLC, the world’s largest B2B yarn and thread supplier, first opened its doors in 1755. Today, Coats deals directly with over 40,000 customers and sells sewing products to billions of consumers across six continents. Chances are, the new Levi’s® jeans you’re wearing or the Nike golf shoes you own are made with Coats products.
 
So what’s the secret to staying relevant? Madonna may say its Kabbalah, but from a B2B perspective, we sat down with Hizmy Hassen, Group Digital Director at Coats, to learn the three secrets of his company’s ongoing success.
  1. Adapt to Culture Shifts
    Music has always changed and evolved over time, but some of the most radical and rapid change has come within the last decade. The days of talking to music store employees and browsing the aisles at Tower Records are over. The digital age has brought a whole new set of opportunities and challenges. Today’s customers want convenience, speed, and the ability to communicate and share with their cloud-based and social communities. Customers have a louder voice than ever before, and no industry can afford to ignore it

    Born in the 18th century, Coats has a track record of adapting to culture shifts. Coats knew that the only way to remain relevant in the global marketplace was to deliver a differentiated, yet consistent, customer experience. Enabling its employees to own any customer engagement moment was a priority. As Hassen explains, “Our biggest challenge is maintaining a consistent proposition of our brand. We needed a CRM system that is able to deal with the increasing global flow of information...to give us a single and holistic view of our customer.”

  2. Engage your Audience
    To survive as a performer in the 21st century, musical artists have to do much more than just deliver quality content. They have to interact with their fans and make a genuine connection. They have to put on highly produced concerts, tweet their weekend plans, post pictures of their new guitars on Facebook, and promote their albums on late-night TV. They have to get personal.

    As a global B2B organization with over 22,000 employees, Coats knew it would take a collaborative effort to personally engage with its wide-spread customer base. Bluewolf helped Hassen and his team implement Salesforce and best-practice sales processes in over 60 countries, to ensure a cohesive touch point with their customers globally. As Hassen recalls, getting thousands of employees from different cultures and backgrounds to adopt and use one platform required an investment in engagement across geographies

    “From the head office in New York, to our contractors in Bangladesh, the end result is to bring together the global teams and local teams across various parts of the world, into a single, powerful sales team that delivers what our customers want, day in and day out.”

  3. Look Beyond Expectations
    Asking your audience what they want can be ineffective, because they often don’t know what to ask for. True musicians are visionary and set trends. They are forward-thinking. They know what their fans want without them having to ask for it.

    Similar to top performing artists, businesses need to be constantly innovating and thinking about how they relate to their customers, what their current and prospective customers may want, and how to meet those needs. Hassen says, “With Salesforce, we got an agile, integrated, and powerful selling force that really responds to our customers’ constantly changing requirements.”

So regardless of whether you sell thread or make music videos, the keys to staying relevant are customer and employee engagement and embracing perpetual change. 
 
Contact Bluewolf today to get more information about how to engage your customers and employees, and embrace constant change.
 
To get the full story on Coats’ global sales force transformation, and how they partnered with Bluewolf to ensure their processes remain relevant, watch the video case study!
 

See More