Feeds

Blog
Comments

Recent Comments

Eileen on A Christmas Story - Dec 08
Thanks Dr Mike, love this story, so true! cheers
Eil on Pike River
Thanks for intersting posting. My great grand father was william patrick butler, his son william daniel butler I believe went over to new zealand to work in the mines. I was wondering if your william
Chris on Pike River
William Maher was my Grandfather, my mum was Kath Borkin. So thanks Mike for the information and yes it certainly hit home and our thoughts are with all the people these disasters have effected
Catherine on Pike River
I found this beautiful posting while searching for info on my grandfather - William Maher. Like you in times of disasters like this Pike one you think about your own family. I worked out while reading
Jesse on Pike River
That was really moving Mike. Thank you for giving me a detailed insight into where I'm from, and even though I'm 12000 miles away I'm in the middle of coal-mining country on my mothers side.
Annmaree on Pike River
Beautiful Mike. A great friend of mine, Gary Knowles, is heading up the most recent mine disaster situation and felt the full weight of in some way playing part of the modern day role of William
Gabrielle on Pike River
Mike what a very moving recollection of our history. Beautifully written.
Steve on Pike River
Mike, thanks for providing a vehicle for long dormant feeling of identity and belonging to surface. every time i meet a new person who asks me what part of NZ are you from, I ALWAYS say - I grew up on
Bede on Pike River
...'In a concert of silence' -Lovely turn of phrase Mike. Spoke to a guy last night who stood in Midland park to observe the silence. He said it lasted 5 minutes and was very moving.
John on Pike River
thanks mike. beautifully written. Amazing to see it in black and white becuase over the years its become a part of who we are..our DNA. Coal mining has always been a dangerous occupation.

The forgotten art

As the 2nd quarter draws to a close, I have the distinct feeling of what the great American football coach Yogi Berra called deja vu all over again.  The business owners I work with report that this quarter has been more like last year than the first quarter was - things seemed to slow down ahead of the budget and don't seem to have picked up.

I think we have to work on the basis that this is what things are going to be like for a while.  This is what slow growth looks like.  I call it a soggy recovery (not a term you'll see economists adopt any time soon).  I'm probably being conditioned by all the rain we've had and the state of my lawn, but I see a lot of businesses having invested in growth strategies such as renewed advertising, additional sales and marketing resources and generally trying to get out and about a bit more.  But to date, progress and results have been slow in coming.

There are a number of points to make here.  First, we're in a post-boom, post-doom environment.  What worked for us in both of those phases won't work for us now.  Perhaps markets are not quite so price-driven as they were in 2008/09, but they are far from being feature or status driven like they were in the boom.  So we have to come up with offers that reflect the preferences of our A class customers as they stand today.  

The second point is that I don't think many of us have taken the time to go back to our marketing plan and really refresh it.  To some extent it's become a bit of a forgotten art.  In retrospect we didn't have to think about it too much during the boom and during the depths of the recession the focus was on reducing costs and holding on to as much of the top line as possible.

I've just been through the exercise myself, and it's been a real challenge to let go of some of the comfortable assumptions I had about my market, and to let go of my attachment to some of my pets that no longer serve the business or that don't fit as well as I would like them to.  Some core things were re-affirmed, including the need to focus on core products but repackage and reposition them.  And in re-affirming some things I already knew, I have invested new energy and purpose into the old strategies.

The final point is that when we make investments in marketing in this kind of environment, results are not going to be instant.  There is a lag between flooring the accelerator and the turbo kicking in.  We have to be patient, disciplined and focused.  And we have to believe that if we keep doing the right things, practicing new and better behaviours, and pushing ourselves out of our comfort zone, we will prevail.  It's only a question of when, not if. 

 


National Business Coaching © 2012 | Web Design and Content Management by Zenago ©2012