Marketing to yourself instead of your target market
Picture yourself as a business owner with a problem. You have a problem because your company, which has been successful in the past, has been experiencing a downturn. If you are a business owner you probably do not have to use much imagination because this business owner is probably you.
When you begin to analyze the reasons of a downturn in business it is very easy to blame the economy. “All businesses are doing bad, just look at the economy!” I hear this one all too often. But what if we thought different? What if, instead of blaming the economy for our business downturn, we embrace it and actually use a slowing economy to our benefit? What would it look like for your business to be thriving in a down period?
That is exactly what I have been coaching business owners to do. In fact, I think that now is a great time to start a business. You heard it right. Instead of blaming external factors, how about we embrace them!
If the economy has changed, that’s perfectly ok. If your business is suffering now, the market has somehow changed. My question to you is what have you not changed either your marketing plan or your entire business model to keep up with the change? If you are not marketing to consumers who need your product or service then in the long run, you are really only marketing to yourself. I for one am willing to bet that you will not be able to purchase enough from your company to stay in business. Why not change?