We are surrounded by media-generated grief.
"Economic growth will decline by .2 percent! Retail in trouble! National magazine reports Canadians angry with the economy!". And on and on it goes. The average consumer eventually gobbles enough of this 'news' and buys into the old self-fulfilling prophecy. So here we sit, in tumultuous times, with large economic forces at work, at warp speed.
As business owners, we are preparing to hunker down, and batten down the hatches as the recession apparently approaches. We have to prepare for the worst. Or do we?
During times of volatility and turmoil, superb marketing opportunities always seem to surface. However, many business owners feel they are under a state of emotional siege when tough times hit.
Consequently, these marketing opportunities are very difficult to identify. This writer suggests sitting back and having an objective look at things. Prepare to break the mold.
As a business owner, you may find it difficult to objectively analyze one's strengths and weaknesses. In breaking the mold, one redefines the business. Of course this requires change, and with change, we must accept and grieve for our failures. If one can work through this process the opportunity to restoke the fires in tight times can carry tremendous positive impact.
Some mold-breaking stories to consider. Villages Pizza and Past open a nice location on Oak Bay Avenue. They are defined by their location and limited only in their marketing efforts (such as coupons, mail drops).
The owners took the time to look at their operating constraints with a willingness to redefine their industry.
The partners decided to take their superb pizza to the community with Villages kiosks located at many community events throughout their market. 'Pizza for the Planet' was born and in breaking the mold, Villages has eliminated the constraints of having one location.
Victor Flett has an independent optical dispensary. He faces an uphill battle winning market share from multi-national competitors.
Victor decides to break the mold, combining his optical dispensary with an art gallery. An odd combination until you visualize the shopping experience, a visual feast.
The Vision Quest Optical Gallery is in fact a new business sector, an elevated shopping experience. Customers shopping for original art can purchase glasses, people updating their prescriptions can get turned onto the art world.
Michelle Frost owns an art gallery. In addition to convincing people to visit her location, she takes the art gallery into peoples' homes. For a small monthly fee, Michelle rotates original art through your home, adding new flourish to your environment. O course, if you want to purchase the are…
Breaking the mold can redefine and elevate the shopping experience. What if a clothing store took good used clothes on a trade-in basis, much like auto dealerships? A bit off the wall, perhaps, unless you recognize that consumers have closets jammed with quality clothes which they can no longer wear – and correspondingly large VISA bills!
Imagine if a consumer can bring in an old size and receive a rebate. Maybe not such a nutty idea after all.
Book cafes are all the rage in the U.S. and have finally hit Victoria. Ten years ago, book cafes were not in existence. For that matter, who would have thought consumers would line up to pay $2.50 for a cup of coffee?
Break and rebuild, redefine and remold. One way to compete in crazy times.
Gregg Meiklejohn is a marketing specialist
and owner of Meiklejohn Management Marketing Management in Victoria, B.C.
marketng@octonet.com
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