Stop, revive, survive
No matter what business you are in, the ‘business as usual’ mindset of Small Medium Enterprises (SMEs) will only ensure your competitors will be more successful than you.
Now more than ever you have to focus your marketing activities. Improve and possibly even change what you do to attract and retain your customers. The digital world should now be the focal point of all your marketing activities.
However, before you look at improving your marketing, stop. Slow down and recharge your batteries. If you are working more than 50 hours for months on end without a break, the chances of every function in your business being ineffective and fragmented are high. The law of diminishing returns is now controlling you and your activities.
In other words, you have reached a point at which the level of profits or benefits gained is less than the amount of money or energy you have invested and your survival is at risk.
Good marketing improves business survival rate
Far too many continue to fail, often due to bad management or lack of funds. However, today it is more likely as a result of poor social media, content marketing activities or other marketing activities. You need to be less focused on your business and more focused on your client’s business.
If you are serious about building a brand and achieving success for your business, start by upgrading your website, social media and content marketing. There are many of benefits to be derived from the new technologies that are becoming much easier to use and more affordable. Having the right brand image and marketing strategies can bring customers to you, like never before.
‘Content marketing’ is now having a significant impact on outcomes. Making better use of websites while attracting more profitable clients, and visitors requires good content.
As I was writing this post, I wondered what would happen if everyone in our region stopped to reconcile what they are trying to achieve. What if everyone started talking up and sharing marketing experiences. It would certainly help everyone to improve their chances of survival.
Caring and sharing could help to build and strengthen our communities to withstand the pressures of globalisation. We could also create a more healthy and more beautiful place in which to live and work.
Adjust your thinking and marketing for survival
- Become focused on your purpose, vision and objectives and avoid distractions
- Align your team and their activities with your purpose, vision and objectives
- Understand your market segments problems, frustrations wants and needs
- Listen to your customers and fix their complaints fast
- Focus on the customer experience and out serve your competitors
- Focus on your strengths
- You should only grow according to your working capital, not your ego
- Remain agile; this could well be your best competitive advantage
- Apply creativity and innovation to your marketing initiatives
- Improve your networks and look for marketing partnerships
- Take advantage of new ideas and opportunities
- Seek external help or advice; you cannot be expert on everything.
“It’s not the strongest of the species that survives, nor the most intelligent; it’s the one that is most adaptable”. Charles Darwin
Spraying and praying is no longer good enough in marketing
You cannot afford just to let people find out about your business by chance. Competition is too fierce. You have to promote and educate the public about the products and services your business offers. Don’t miss the opportunity to be discovered. It is good to have a great product, but if nobody knows about it, you will not make the profit required to survive.
Marketing in today’s global technology and a communications-driven world means being available for clients whenever you are needed. Your competition is only a mouse click away Modern marketing channels like the websites, social media and mobile devices provide you with the opportunity to target more people than ever before.
“My number one marketing initiative is to be reliable, practical, useful and helpful”. Peter Sergeant
“My number two marketing initiative is to understand customers problems, frustrations wants and needs”. Peter Sergeant