I see many businesses today struggling with change.
Some of the greatest sources of tension come from ongoing changes in culture and technology. Even simple shifts in distribution or consumer mindsets can disrupt the flow of a successful business. The truth is, if some businesses do not adapt to change, they will fail.
We know that change can be a platform for opportunity or failure: on a national scale, digital brands like Uber and Amazon are thriving, while storefront brands such as Kodak and Blockbuster struggle to survive. I see, on a much less public level, thousands of small businesses facing the same dilemmas. So, how is “change” affecting your business?
Here are three key areas to consider:
Compare how your brand is projected against your competition: Does your image look out of date? Are you running on a slow or obsolete web platform? Is your brand positioned attractively within the changing market and culture? Most importantly, is your brand speaking a clear message that addresses your ideal customer?
Marketing and sales figures are key indicators that you might not be adapting to change. It is important to examine the following areas to assess your market standing:
Are your marketing dollars getting less return? Is the media you’re using reaching the right buyer? Does your website have an increasing bounce rate (i.e. people leave your home page quickly)?
For most businesses, negative customer feedback remains the leading cause of disruptive change. This paradigm waits for a problem or complaint to arise, and then reacts to solve it. To remain strong in a changing market, businesses must now design the experience they want to deliver – their “brand promise” – and incorporate it into every area of their company culture. Does your business proactively embrace a “brand promise” to deliver an exceptional customer experience? Or are you still operating on the reactive principles of “customer service” departments and channels?
Where are you in this age of continuous change?
Take some time to discover how you can harness change to make your business thrive again. The Brand3 Discovery Primer is a FREE workbook that digs deeper into the areas of brand, marketing, and customer experience. If you would like your free digital copy, click here.