Mapping Out Business Success

In a marketplace that is constantly evolving, how do you ensure success? How do you keep up with demand? How do you keep track of industry trends?

Business planning is a simple prospect – establish a set of criteria that will allow your organization to create a road map of where you’d like your business to grow and dominate the competition. However, many organizations fail to plan their decisions in this manner and soon find themselves stuck in a hole, with mediocrity crushing down on them. In order to excel in any industry, here are some focal points  believe any company should pay close attention to.

Customer Service: When it comes right down to it, a core function of business is to provide a product or service. Without proper utilization of customer service skills with consumers as well as suppliers and partners, it is difficult to maintain steady financial development. The latest trend, of course, is social media. Companies use social media to interact with their customers on a personal level, and find out what trends they’re looking for or shying away from. Research is now showing that use of social media drives face-to-face interactions. When customers interact with your brand outside of a sales atmosphere, it can humanize your marketing efforts in a way that allows for much more effective campaigns.

Quantify!: Another simple concept that is often overlooked, quantifying goals and progress can allow an organization the ability to understand exactly where they stand, and more importantly, present that data to others. Shareholders, donors, investors and often time customers themselves all need to know precisely where their funds are being used. If you can’t definitively disprove the image that any money invested in your company or project goes under your grandmother’s mattress, then it’s time to rethink your business plan! Get out there, conduct marketing research, create new findings and see what your customers are saying. If you back up all decisions with quantifiable objectives, it will be much easier to complete them on time.

What are some other points you believe are key to maintaining success?

References:
“New Research Dispels Interactive Marketing Myths…”
http://www.exacttarget.com/company/news/Article-View/ArticleId/432/New-Research-Dispels…

“Social Media Humanization”
http://www.socialmediaexplorer.com/2010/10/06/social-media-humanization

Image:
http://commons.wikimedia.org/wiki/File:Nederlands_verkeersbord_L6.svg

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  1. Excellent point you made in how companies use social media to "find out what trends [customers are] looking for or shying away from." Social media has opened exciting opportunities to listen in to your customers and more quickly adapt by tailoring your product or services to better meet their needs. A mistake I think is too often made is companies using social media as a one-way communication platform to deliver their sales message to their target market–and never listening to their customers.Companies must see social media as equivalent to being at a home dinner party of one of their customers. A guest who's clearly just there to make sales/network is seen as obnoxious, but a guest who listens and is genuinely there to build relationships, however, wins the friends (and customers). Great post.

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