Vision - January/February 2009 - (Page 69) Motivational ideas for the Ce industry ] • [ by dan Cole $ $ eye on business What’s the message for you? Stay in front of your customers. Some “Presidential” Advice After each debate, rally or opponent attack, they reached out directly to their core constituents with carefully crafted messaging and appeals for continued support. What’s the message for you? Stay in front of your customers. Consumers are feeling the pinch and in turn are steering clear of stores. The result is an “out of sight, out of mind” syndrome that can jeopardize their allegiance. When they start spending money again, will they return to you? As budgets allow, communicate with your core customers. Constantly incentivize them with coupons, specials and other creative ways to earn their dollars. Through whatever mediums available, convey that you are open for business and want their patronage. chart new and more effective courses for the climate they were facing. What’s the message to you? Respond quickly to shifting conditions and readjust. In today’s economic climate, even the experts have difficulty accurately predicting what will happen next. But the last thing you can do is sit on the sidelines, hoping for a positive outcome. Be proactive. If analysts predict a drop in a particular product category, quickly shift gears and mobilize your efforts behind others that may still have potential. If your competitors are exploring new markets and tactics, make similar changes. Whatever the circumstance, always be prepared to make changes and be prepared to make them quickly. Jim Frazier/Getty Images Build an All-Star Team A Presidential campaign is a monumental undertaking that cannot be managed alone. The teams formed by both candidates were an integral part of their success or failure. From top advisors down to local grassroots organizers, each campaign needed to be staffed with the strongest individuals who were dedicated to its success. What’s the message for you? Choose your business team wisely. Bolster your existing team with encouragement and support. Sharpen their skills with training and reward them for their contributions wherever and whenever possible. If you are fortunate enough to be hiring, scrutinize candidates closely and pick the best possible ones not only to boost your bottom line now, but to ensure success down the road. And if you absolutely must cut staff, employ the same principles. Develop and Nurture Partnerships Both candidates were successful in securing key endorsements. When those endorsements came from established, reputable individuals and organizations, it compelled voters to take a closer look. What’s the message to you? Develop and nurture strategic partnerships. The evolving global business environment means your success is inextricably linked to the success of others. Where possible, build alliances with organizations that represent new opportunities in emerging markets. Where your organization may be weak, identify and pursue relationships with others that are strong. Look for win-win situations where your products or expertise could be of benefit to another organization that in turn can help grow your business. Organizations that view the current downturn as an opportunity to retool and reorganize will emerge prepared to seize new opportunities that inevitably will arise. The hope is that our economic climate will improve during the next four years. In the interim, take a cue from our candidates and look for ways to strategically strengthen your business now. • January/February 2009 B usinesses today are in an epic fight for viability, but for many, it’s an uphill battle. While relative normalcy will return eventually, some aspects of the business and economic environment will be changed forever. Given the consumers’ necessary and conspicuous withdrawal from the marketplace, brand loyalty may be one of them. In the midst of this turmoil, in November we elected a new President. And no matter where your political affiliations lie, there has been little argument over the more effective strategies employed in each campaign. Many of the same strategies can be equally effective in helping your business weather challenging times. Respond and Pivot Quickly This Presidential campaign was hard fought. Attacks from both sides aimed to throw their opponents off course and drive votes and support in their direction. In response, the candidates were forced to quickly adjust and Stay in Front of Your Customers Both campaigns worked hard to remain in constant contact with their supporters. www.ce.org 69 http://www.ce.org
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