Back at the beginning of the year I started a post with the words ‘only change is constant’ (read the post here). What I should have said is ‘only change is constant AND it’s getting faster!’
It was less than 40 years ago that the first mobile phone call was placed by a handset weighing 1kg & this month sees the launch of the new iPhone5. The relentless advance of technology has lowered barriers to entry & significantly shortened product lifecycles. In doing so, it has also reduced the ability for products to differentiate as competition increases from manufacturers able to copy products at similar quality levels in very short time frames.
I’ve already written about the smart customer wanting great value, quality, service & the ability to customise or personalise your product. They approach these demands with ever greater levels of knowledge
These days a satisfied customer is only the start & successful businesses need to consider how they plan to stay ahead or perish. Here are some suggestions;
- Look outside – by that I mean take a wider look at other industries & don’t be confined only by what yours is doing. There are some great ideas out there to consider!
- Have a go & prepare to fail – my youngest daughter learnt to ride her bike by failing off it. She took the risk of bruised shins & soon figured out how to avoid getting hurt but not before she has some impressive bruises! The preparation bit came from me as we went to the park where the grass was pretty soft & there wasn’t anything to run into!
- Make a decision – indecision is worse than making a wrong decision. Take a look at my last post Is your indecision final?
- Write down the real value of your product(s) – it’s not just price but effectiveness, efficiency & cost of ownership. Once you’ve done this start to have more conversations with your customers on these topics than price.
Sometimes all you need to do is take a look at the same things but with a fresh set of eyes.
Results based marketing 