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Monday, March 30, 2009

Are we there yet?

The market's up. The market's down. We're in a recession, but we might be coming out...not anytime soon though...unless something changes. We hope.

With the economic picture seeming to change minute by minute, how is a business owner supposed to plan? Is the sky still going to fall, or is this the worst it's going to get? What should we do?

Well the first thing to do is, don't panic. If you are evaluating your business on an ongoing basis in a few key areas, then you can be prepared for just about any occurrence.
1. Your business financial health - It goes without saying that this is the starting point for any business analysis. Knowing where you stand with revenue and profitability will serve as the foundation or catalyst for any business adjustment planning.

2. The needs of your Market - In any economic climate, you should fully understand your Market's needs. Have they changed because of the economy? Or, are they the same as they ever were? Having this information will dictate if you need to change your product offering or customer contact strategy in any way. Taking action like performing customer surveys and evaluating your competitors will alert you to any trends. Once you get the information you need, incorporate it into your existing Marketing strategy and respond accordingly.

3. Your high levels of customer service and response -- Regardless of economic crises and possible cutbacks you have to make in your business, customers still expect excellent customer service. If you sacrifice customer service or product quality to get yourself through the hard times, you may find it difficult to rebound as the economy improves. As you are making decisions on the first two points, use this third point to determine how you proceed.

These are three very high level areas that encompass many fine points, but this is your starting point. We'll likely be seeing many more ups and downs over the coming months, but don't let your business strategy get tossed about as well. Plan, evaluate and respond using the points listed above, and you'll be well prepared for whatever comes.

www.mymarket-ease.com

Monday, March 16, 2009

Making Promises...

You've probably heard this before, but your company brand is much more than a pretty logo and flashy flyers. Your brand is a "promise" you are making that your customers are expecting you to fulfill. For instance, do you promise "fantasy" like Disney? Or do you promise "high athletic performance" like Nike?

Can you easily pinpoint what your brand is promising? And more importantly, are you following through on it?

www.mymarket-ease.com

Thursday, March 12, 2009

Another Marketing Rant...

I recently wandered into a well-known forum for Small Business Owners. And as always, there was a Marketing thread available for entry. So of course, I entered.

As I perused the "conversations" inside the thread, one of the titles caught my eye. It was something to the effect of, "I need help with my Marketing. Someone please rescue me." This, of course, is not an uncommon situation -- hence the reason we started Mymarket-ease.com. However, what was interesting, was the amount of response this poor unsuspecting business owner received.

I'll put it to you this way...while reading the responses I got an image in my head of some sort of ancient creature with hundreds of heads and three mouths each -- all of them screaming things like "I got a Marketing idea for ya! Buy more pens!" Very frightening.

It was amazing how many different responses the SBO was given. But, not one person asked the all important question: "What is your objective?" Or, even better, "What are your Marketing goals?"

By understanding exactly where we want to go, we can better plan HOW to get there. Simply saying we want more customers is not specific enough. We all want more customers. But understanding what we want our business to look like or accomplish at the end of it all is critical.

So, if it was your post that I happened upon in that forum, I pray you've recovered from the onslaught. For all the rest of you, we can slay the beast together. The Small Business Marketing revolution has begun...

mymarket-ease.com