Change Is Threatening Your Business Copyright 2003 Bob LeducYou cannot grow a business today by simply repeating what you did successfully in
past ...or even recently.
Clever competitors and new technology are producing changes that will reduce
effectiveness of your current marketing efforts. These 3 strategies enable you to overcome this threat - and continue to grow your business.
1. Keep Testing New Advertising Methods
The first impact of change is often a shrinking return on your response from proven advertising methods ...followed by a decline in
sales they produce. Don't wait for this to happen before taking action.
Continually test and evaluate
effectiveness of everything you use or do to promote your business. Test new marketing methods - and old ones you never tried before. Replace less effective marketing methods with
more effective ones you discover with your testing.
Tip: Invest 80 percent of your advertising budget and effort in proven promotions and 20 percent in testing new variations. Most businesses using this system continue growing - even in highly competitive markets.
2. Keep Opening New Markets
Never stop looking for new markets you can serve. Every new market you open increases your sales ...and helps insulate you from
impact of change.
Changing market conditions or an aggressive competitor may cause your sales to drop in one market. But
impact will not be devastating if you have a variety of other markets producing results for you.
Tip: One quick and easy way to find profitable new markets is to sub-divide your current market into several narrowly defined niche markets. Then customize your advertising so it offers specific solutions to
unique needs of prospects in each niche market.