Now what?

The all-knowing, all-seeing Federal Reserve (not Carnac) has advised they expect the U.S. economy to remain essentially flat for several years. Is it ok with you if your company does the same? (Ok, after the downturn of 2009/10, where flat was the “new up,” you might be inclined to say yes, but… really?)

If flat is ok with you, you have to trust it is also ok with all of your competitors. Unlikely in my experience. If somebody wants to grow in a flat market, somebody else has to shrink. On the assumption you don’t volunteer to be the “shrinkee,” what will it take for your company to grow in a flat market? Of course, you have to take share from others. Or at least an other.

How will you do that? What is your strategy to take market share? What is your strategy to hold the share you have? Hope is not strategy … unless you are the Federal Government, apparently. So, what’s your strategy? What’s your plan, and do you have a marketing plan designed to support that strategy? (I don’t just mean a marketing communications plan or worse a social media plan, but a comprehensive marketing strategy and plan.)

Business is going to be brutal the next few years because many companies are not willing to stay flat, and the economy is not going to cover for sloppy work. Flat is probably not a viable option. It’s grow or shrink. Which do you choose? Or will you let the competition choose for you?

Mitch

Advertisements
This entry was posted in management, Marketing, strategy and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s