People like to use January 1st as the starting line for new goals or resolutions. What better time of the year to resolve to do a better job at marketing your own business, your employer, or yourself.
Here is a list of Marketing Resolutions we think that every small business owner or marketing professional should at least consider and possibly adopt:
1. I’m going start understanding how things really work
In our experience, lots of smart business people do a poor job at tracking key performance metrics. This is not only poor business, it is poor marketing. This is because your key performance metrics, like sales revenue, gross profit margin, asset turnover ratio, etc, can be your friends in marketing your business. They help you understand how things really work. By identifying significantly high or low periods of time, your key performance metrics can tell you how well your marketing is or isn’t doing.
By resolving to understand how things really work you resolve to identify your key performance metrics. You then resolve to evaluate those metrics to see how well your marketing is working. Continue reading
How worried you are about this trend is dependent upon what type of business you are. If you are a provider of unique or vital services or utilities this trend may be interesting, but not alarming. If you are a seller of things online, this problem is not really new to you as online retailers have always been susceptible to instantaneous price comparison. But, for brick-and-mortar retailers this trend may be alarming. To some it may, like so many other technologies, represent the end of retail as we know it.