“One of the toughest challenges in business is being consistent while maintaining growth”
The marketplace can be a very crowded environment. So densely populated, in fact, that it can inhibit growth. Like a sapling struggling for sunbeams underneath a canopy of trees, businesses have to find innovative means of getting themselves into the light.
It isn’t uncommon for a company to move so far away from their roots while trying to stand out, that they lose themselves in the shadow of the marketing machine. But the ramifications of such an identity crisis can be detrimental to the bottom line.
Companies are built on people connecting to their services. To survive as a business, you have to offer something to the public in hopes of receiving something in return: money, exposure, or networking perhaps. Your base clients have been shown your base service; if they choose to become clients in the first place and remain clients afterwards, then you’re doing something right.
Knowing that you’re already offering services that people want is important to remember as you try and grow your company. Perspective is paramount and staying loyal to your business’s mandate goes a long way with your customers remaining loyal to you.
Here are some points to keep in mind with trying to keep to your company’s strengths.
Issue: Changing your services can alienate your existing client-base. Changing your formula too much (ahem, Coke & Coca Cola Classic) runs the risk of losing the elements that made your business successful in the first place.
Remedy: Always maintain your principal services, so your clientele can depend on your baseline.
Issue: Altering your business to attract customers can weaken your offer. Trying to cater to everyone can make your company appear disingenuous. It may seem to the general public that your business lacks confidence in its core services and principles. Trying to turn your company into something it is not is a turnoff for potential customers looking for an authority in the field.
Remedy: New approaches and new services are important for growth, but staying true to your company’s mandate through those processes breeds confidence in your brand.
Issue: Moving your company away from its strengths moves you into the realm of your competitors strengths. With the high level of social interaction, subjective and objective opinions touting which company is best are plentiful. If your company is trying to compete in an area it does not excel in, your chances of being dismissed outrightly are high, and the consequences include losing the trust of your consumer-base.
Remedy: Value Propositions – focus the public’s attention on what makes your business better than its competitors. Find out what you do “best” and what you are the “only” ones to do. Makes your strengths your focus point.
At the end of the day, people want the best product for the best price. If they are utilizing your services, in some way you have proven to be their best option. The easiest way to determine your business’s strengths is to figure out what your customers see as your strengths. Figure out what these areas of strength are, analyze them, and then amplify that message to the public with confidence and creativity. Allow your marketing to adapt, but ensure your identity remains focused on what you do best.