Jun 18, 2018 Is Your Company Revolving or Evolving?
Two words. Just an “R” is the difference in spelling, however, that simple letter drastically changes the meaning.
Over the course of doing business in the branding and marketing industry, I run across many businesses with an “interesting” outlook on business. Interesting isn’t always good. There are many older companies that do what they do simply because they have been doing the same thing for decades.
These companies use antiquated methods that are manpower intensive which creates an environment that is low in productivity. They refuse to embrace technology trends that can increase productivity and increase their company exposure.
These same companies fail to adapt to the current times. The failures may include issues with branding, their company name, product or service options, or even simpler solutions such as improperly managing a social media presence (or lack thereof). There are even companies that don’t have a website. How can this be? Who could possibly think this is a good idea?
These companies are just revolving and doing the same thing they have always done. Most of these companies I am referring to are also seeing their sales slide, year after year. The company principals refuse to embrace change and are digging in their heels to their own detriment. You can likely name quite a few big name companies (as well as many of your long-term local businesses) that used to be your go-to choice, only to be replaced with your new favorite option.
On the other hand, there are companies that are evolving. They are watching how the new wave of consumers shop, their likes and dislikes, market trends, and needs (desires) of their targeted clients. They are adapting not only their products and services but their company strategies to align with the future.
The companies that are evolving are protecting their brand for the future. They are proactively marketing themselves. They are creating sales strategies that align with the core values of their targeted set of clients.
How to Evolve With Your Customers
This is easy, but it does take an investment of time. It mostly involves knowing your customers, understanding their likes and dislikes, and communicating effectively to them.
- Analyze your customers. You have to know your customers. Are they mostly middle-aged women? Are they small businesses? Medium size businesses? Are they baboons? Knowing who (or what) they are is the critical first step. Likely you may have a few different types of customers.
- Find out their needs. Once you have identified your subsets of customers, find out what they need. And by need, I really mean “want.” Is your current product line filling that need? If not, you have to evolve your product line to align with the needs of your customers.
- Communicate specifically to them. Depending on your type of customer base, your messages may reach them through social media channels, email, phone calls, direct mail, or other advertising mediums. Likely you are not going to reach senior citizens through Instagram, but you will reach young adults and teens (if they are your target). Find the preferences of your customers and your messages will resonate better.
- Consistency in customer experience. Make sure your entire staff, from your janitor to your CEO, is all on the same page regarding your company philosophies, updates in protocols, new products and services, etc. Education is key. Your customers must receive a consistent experience no matter with which employee they interact.
- Never stop learning. As the world evolves, so does your specific industry. Stay informed with the trends and changes in technology so your company can evolve.
If you consistently analyze your brand, make changes as technology and your customers change, you can evolve your company to stay competitive into the future. If you want your business to grow, adaptation and evolution are critical. Analyze your business and future-proof your business today!
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