Change happens. Just one year ago nobody had heard of a credit crunch. Now many of those organisations who were complacent are in trouble because they failed to look on the horizon. The best way to handle changing circumstances is to remain alert and be prepared. Better still, be part of the change not a victim of it.
Size matters. Thanks to their flexibility and more direct decision-making chain, small businesses can often avoid the kind of problems that will wreck larger, more cumbersome organisations.
Evidence matters too. Emotional sentiment is no substitute for numbers. Small businesses can be inclined towards instinctive optimism, even when the research is yelling run for cover. Listen to the numbers.
Ensure your staff live by your brand values and understand precisely what customers want
Spend wisely. Habits may need to change too. A recent Chartered Institute of Marketing survey revealed that staying close to your customers, keeping in touch and meeting their needs is presently delivering the best return on investment, while traditional advertising is performing comparatively poorly.
Be distinctive. Have you noticed how the black sheep of the family is usually the most interesting? Successful brands are usually those that do something differently. How do you differ from your competitors? Can you zig while others zag?
Invest in people. Every member of your staff is a guardian of your organisation’s reputation. Ensure they live by your brand values and understand precisely what customers want. Customer affinity has never been more important than it is right now.
Encourage creativity. Aim never to stand still – generate change rather than fall victim to it. Incentivise ideas, reward positive achievements, consider untapped markets, think of ways to make things better.
Don’t compromise. Successful brands know what they are, what they want and where they are heading. Any part of the internal machinery that does not support the journey might need to be reconsidered.
Don’t panic. In troubled times knee-jerk responses can be tempting. But remember that every R&D budget cut, every marketing initiative capped, every price slashed and every key worker shed will put you deeper into a corner from which escape will become ever more difficult.
