The market place out there has raised it’s voice, there are more people talking to you, providing feedback, on social networks and on forums as well as SEO, PPC and the more traditional marketing stuff. But, instead of listening, we more often than not start shouting as loud as we can to be heard above the ‘noise.’ And, it doesn’t seem to matter what market you are in, we are all up to it!

Consequently, the customer/prospect/client can’t hear us. They find it difficult to distinguish us from anyone else, we are just part of that ‘noise.’ It turns people off, they start to ignore us and even worse they become indifferent! They become bombarded with information and as a result close their eyes and cover their ears.

Now is a good time to STOP. A significant dose of looking is required. Look at what you are doing. Look at what the competition is doing. Look at what other businesses are doing in other sectors. Look at where the return on investment in marketing is working or where it isn’t. Then, I bet a good deal of change is required.

If you are not different then you need to be cheaper. The change must be around how you are different, measurable, demonstrable and tangible difference. It may not be your product but it may be your customer experience. It may not be delivery times but it may be that you have the most talented people in the business. It may not be location but it may be that your marketing message is so compelling that people buy into it.

Ultimately, the question and answer is not so much about how your product stands out from the crowd nowadays but how you stand out from the ‘noise.’

Your people want the following:

1. To be part of something that matters

2. To do meaningful work

3. Be led not managed

4. Authenticity not selfishness

5. Influence not authority

6. Truth and ‘real’

You manage objects, processes, IT systems, procedures, quality, operations. Anything that involves people requires leadership skills, behaviour and attitude. Anything less results in you making your life a lot harder than it needs to be.

Another word! It’s linked to the previous post! A quote from Seth Godin “Change almost never fails because it’s too early. It almost always fails because it’s too late.”

Good point

Or is it opportunity? No matter. The challenge is to rise above the crisis most of your competitors are talking themselves into, to take advantage of the chaos that is ensuing and be better and greater than your competition, which, lets be frank, is a lot easier nowadays. The challenge is not to be comfortable, not to stand ‘gassing’ in the corridors about the doom and gloom, not to reinforce the misery that many would believe will happen in the New Year but to stand up and be counted. 

Today is about responding not reacting to the problems. Having the courage to look at your business hard, identify where you have been going wrong. Where you haven’t been as effective as you should have been. Not being comfortable with what you’ve got. Rationalise it a little if you have to. Then looking at better ways forward. Has anybody ever got into trouble for embracing the status quo?

Economic crisis makes it difficult for people to hide. If your competitors are even as good as you, at some point they will squash your grapes so to speak! Being good enough ain’t good enough anymore.

The safer your plans for the future, the risker your business strategy is.

I’ve been thinking about this for a while especially in these current interesting times. Apparently it costs 8 - 10 times more to go out and get a new customer compared with retaining an existing one nowadays. Based on this principle, it’s the existing customers that keep us afloat at this time, particularly, if they believe in what you do.

To me it’s about loyalty, value, genuineness and sincerity when it comes to the people that your business deals with including employees. True loyalty…..Steve Yastrow in his post below made it all a little clearer!

http://www.tompeters.com/entries.php?rss=1&note=http://www.tompeters.com/blogs/main/010739.php

Today’s word is worried. Worried because in the last week these are the things that I’ve overheard in my travels that have left me feeling exhausted, deflated and just a tad worried:

1. “Customer service isn’t anything to do with me.” 

2. “Customers ask us if we are generalists or specialists and we say we are whatever you want us to be.”

3. “I believe in marketing to everybody.”

4. “But our profession is different.”

5. “We are battening down the hatches and doing what we have always done, it’s business as usual.”

6. “What you have to do in these times is lead from the front, control everything especially employees and customers.”

Anyone else frightened?…………….

Simple, consolidate first then expand. That way you don’t take any excess weight with you as you grow again. But don’t cut the wrong costs. There’s nothing wrong with being more efficient but make sure you don’t suck the life out of your business either.

As you expand put relationships ahead of profits, make it trustworthy so anxiety and doubt are removed from the buying process. Your challenge is to get your business products/services/ideas to spread. That way you create a more sustainable business and eventually a more profitable one too. 

The recent financial difficulties will inevitably create new vulnerabilities and new opportunities for business. I don’t think it’s so much about whether setting up a new business in the financial downturn is a good time, it’s whether the market/customers are ready for your products and services.

If the business you are starting is targeting customers who are looking for something new, are in the mood to change their supplier. Or, their circumstances have just changed such as the retired, people moving to a new area, someone in a new job….then you may be onto something. But only if you can demonstrate a difference. If you’re not different then you need to be cheaper!

People who are looking to change, read Fast Company magazine, have just bought a book about new ideas, are exploring new opportunities on a regular basis, are at the latest art gallery opening. These people are far more open to buying from you than people in traffic queues on their way to work! Find them, find the product and service to match them, then you may have a new business with potential. The economic downturn isn’t part of the equation really.

In some areas of business we have no choice, we have to file tax returns, we have to submit end of year accounts, we must comply to employee legislation to name but a few. But, and it’s a huge but, we also have total choice over how we manage our businesses.

We are in an envious position to be able to influence how our business responds to change. We have a choice on whether we see opportunities or threats especially in this business climate. We have a choice whether to market effectively or market inefficiently. We have a choice about how we treat the customer, how we inspire our people and what products/services we want to develop. The future isn’t completely out of our hands, in fact, potentially we are in the best position to choose our own successful tactics.

The greatest risk is not seeing this and not doing anything at all about the choices we have…..

Make hay whilst the sun shines. When the sun is shining brighter or for longer periods at a time, then pick and choose your customers more carefully!