What accountants should learn from Kellogg’s breakfast cereals


Monday, July 1st, 2019

By Kreston CEO, Liza Robbins.

What’s the connection between muesli…. taxi cabs…. And Kreston?

In theory, nothing!

But in 2014, Kellogg’s cereal launched a highly innovative marketing campaign in India, in partnership with Meru, a top radio cab service.

In select cities, it provided cabs a Muesli breakfast pack, a deep bowl that is convenient to eat from on-the-go, a 100ml milk carton, sugar, spoon and a tissue.

Passengers who ordered a Meru cab between 5am and 9am were surprised with a “breakfast kit”.

The campaign was win-win.

Meru not only differentiated itself in a crowded market, but it surprised and delighted its passengers, providing them with a value-added service.

Kellogg’s had been struggling in India, where people were not accustomed to eat cold-milk cereals for breakfast.

This partnership allowed them to reach people it would not normally reach, and also surprise and delight potential customers.

 

What this example shows is the power of partnerships, between companies from very different industries.

You see, Kellogg’s and Meru were in no way competitors. But their customers were the same people.

Cooperation between them was a no-brainer.

So what about accountancy firms?

Given that we face an increasingly competitive market, and that audit is slowing down almost across the board, we need to find business in new places.

A few weeks ago, I encouraged you to find ways to cooperate with other Kreston firms. We can refer each other work so that everyone benefits.

But there are firms outside our industry, as well, which might make natural partners.

For example, law firms may serve a very similar, SME clientele to you. And many of their SME clients might need your services – and vice versa.

It’s the same story with real estate agencies…. And so many others. Laurent Le Pajolec from Exco A2A Polska, one of Kreston’s Polish firms, for example, has partnered with INSOL, the  insolvency practitioners.

We need to follow his lead and broaden our outlook, to look outside our “accountancy bubble” for strategic alliances, so we can gain access to a wider potential client base.

Now, I know what you might be thinking.

You are probably worrying that if you develop this kind of relationship with an insolvency or law network, some of them might compete with you.

But here’s the truth.

Whether or not you affiliate with them, they are already out there, talking to your clients and competing with you.

All you can do it focus on being the best – and make sure you are developing win-win relationships.

Is this something you have tried? If so, I’d love to hear about your experiences. Please do let me know.

And if you are a Kreston firm that wants help developing this kind of approach, please do let me know as well – and let’s talk about how we can facilitate it for you.

 

 

 

 

 

 

 

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