Look, this tough market economy that has emerged is not going to go away anytime soon. In fact, we believe these dynamics will define a new standard for doing business. Let’s not hold our breath and hope things get back to normal, because this Market Jungle has now become the new normal. Has your company broken with tradition and done everything possible to cope with these market dynamics? What have you done to declare yourself a competitor and get your piece of the pie?

That’s right, given the problems and difficulties your competition is experiencing, are you paying attention and intelligently exploiting the weaknesses and vulnerabilities of your competitors? However, are you the weak link and target of your distinguished competition? Just check your active forecast and interview some of your key producers; their war stories and flat faces will tell you the whole story. If you spend more time discussing competitive losses than competitive gains, you may find yourself in free fall. In which direction is Opportunity Base going? Are you rich or anemic? What is the makeup of your prospect base? A long list of old faithful or an attractive list of promising new sources of business?

What is the most exciting thing your company has done in the last 9-12 months? Launch of a new product or service, a big project won, a new strategic alliance, the expansion of your distribution channel, a new board member with industry influence joining your company, etc. or things have gone “as usual”. This can be a powerful story. So what can you do about it? First, reach out and attract industry talent to help access / assess the drivers that are impacting your business. Avoid bringing in an academic, at this stage. The severity and depth of the impact that this financial collapse and the tough market economy have had on companies is evident.

We all need real-world professionals to help us and sources that don’t “break the bank.” Leverage a group that is dedicated and experienced in your business, understands the dynamics, and can relate to and “speak the language” of your potential customers and competitors. Interestingly, some of these talents can be found in industry groups, trade associations, and other sources that are tailored to your niche. In some cases, they have a deeper experience and may be more closely connected than your company. Second, actively search for potential partners, even if your business has resisted or not experienced strong results in the past.

Today’s Market Jungle reinforces the point that no business can do it alone. Make sure you do your homework: rank the motivations and reasons why your company needs partnerships and alliances, develop a comprehensive profile, and avoid making compromises when starting the recruiting effort. Quality Partners just don’t fall into your lap. Third, too, many companies point the finger at their third-party distribution channel and direct sales, as they are not effective. This is probably unfounded, although most companies have not invested in a different kind of training (given the dynamics of the market) and have not provided their valuable field organization with the tools, freedom and influence in decision making. to compete and make it happen there.

Unsurprisingly, when business goes bad, management’s reaction is to strain the kidneys and tighten the field with in-depth forecasting sessions (sometimes daily) and 200-pound blank reports. All with the result of a decrease in focus, which kills productivity and negatively affects performance. For starters, what your field team doesn’t need is more Basic Sales 101 or refresher courses. They need a different methodology / approach to tackle today’s sales challenge, harder than ever. When was the last time your company introduced a dedicated program or effort that changed the rules of your sales team? Or are you still flying on autopilot and applying the same old, worn-out formula for success? A great business leader once said, “When one thing changes, everything changes.”

Well, this Market Economy has changed, however, how many companies have changed with it? Fourth: reviewing our reference at the beginning of this article. Commission some of your smartest people (and take advantage of a stranger to complete the effort and keep things fair and objective) – find out what your competition is doing. No guesswork – your company’s neck is at stake. We need a complete look, not casual. Take a look at your Core Strategies and Tactics (especially, if they have made recent changes), the makeup of your established and new Lead / Customer base, your Distribution Channel (Partner makeup and how it works), Pricing and Packaging Strategies , new ads (at all levels), management changes and direction changes, customer service dashboard (are your customers satisfied?), their promotional mix and the methods / techniques they are using to reach and engage with the market, etc. etc.

Do the head work and analysis, with the intention not only to obtain information, but also to consciously identify the areas of weakness that your company can build in a forceful campaign to attack your base and generate tangible results. Nothing is more satisfying than having low or no cost of sales and finding a customer base that is eager to switch vendors. There is not a single company that does not have cracks in the armor. Put this into practice for a few business quarters and marvel at the results. It’s puzzling, especially in a recessionary economy, that we see so little attention to this area. Fifth and final: Take a good look at (and judge) your own marketing capabilities, program mix, and effectiveness. Are the programs you are implementing hit the mark? If not, something must change. Does your internal team have what it takes to conceive, develop and implement new market programs that can keep up with this fragile market economy and brutal competition?

Is your business experimenting with the new wave of various internet-based approaches? If so, how did your expectations match reality? Is your company doing something special for your valued customers? When was the last time your senior management team visited you? What does your Customer Recognition Program look like and what does it tangibly provide to your customers? When was the last time you changed / modified your standard terms of doing business? In what shape is your distribution network at this stage? What value-added, training, and stimulation programs have you introduced to your external partners to strengthen your sales effectiveness and provide some new twists on competitive positioning?

The five areas outlined are material for implementing programs that can help your business overcome this market mess. Follow these five steps and choose one. We have to start somewhere: it is better to take bite-sized pieces than to try to swallow the elephant in one gulp. Pick the most critical area and get started. As you gain traction and experience, migrate to each step, until all five have been applied to your business. This is what domain is all about. None of us can afford to sit around and do nothing, that will only result in becoming a Victim. Our goal in this article is to get home, with some fundamentals, and see each of you become “the competitor and the winner.” Good hunting!

Copyright 2009 Performance Marketing Group Edmond M. Hennessy