Yahoo has once again gone public with its strategy; this time Marissa Mayer announced it at a presentation to advertising buyers in NYC. (I once accused Yahoo of having a lazy eye and must admit my view hasn’t changed too much, but I still believe Ms. Mayer is the right person for the job. In a previous blog post I noted she may be on to something with a the germ of a brand idea, but yesterday may have dissuaded me.)
Yahoo needs to step up its original content game. And yesterday she acknowledged “premium content” as one leg of the stool. The other two legs being: innovation and performance. I’ve heard innovation before – What technology company doesn’t use that one? –but performance is new. But you can also drive a truck through it. At least she didn’t hang a brand plank on advertising. Last time out she talked about mobile, but I guess that falls under innovation.
Every house has a foundation. Every company needs a business strategy and a brand strategy. What I’ve found out in my years as a planner and consultant is that creating the brand strategy first is the best way to build a business strategy — because it’s built on customers and endemic business value. There I’ve said it. Come get me Harvard Business Schoolies.
Yahoo is making money. Diddling around with mobile. Promoting Ms. Mayers in lovely ways. But it still does not have a brand strategy. Ask Gareth Kay. Search this site for all posts on Yahoo if you would like to see the history of missteps. Yahoo is pulling its nose up (aviation metaphor)…it just needs more time and a tight brand plan. Peace.