News From Terre Haute, Indiana

Business

April 21, 2013

Business Cents: Keeping up with change

TERRE HAUTE — A habit is defined as something we do out of repetition without thinking about it. You get in your car and drive to work every day — this is a habit.

Have you ever gotten in your car and started driving to a specific destination and then, without thinking, ended up at your office, the grocery store or something along those lines? This occurred because we all have habits. As a business owner, we are creatures of habit and typically don’t like change. But guess what? The world around us keeps on changing and a company must keep up with customer demands in order to remain in business.

Now this is not “Field of Dreams,” in which “if you build it, they will come” is the philosophy. Customers must be told what you are doing as a business and how it will positively impact them. For example, if you are a radio station and trying to sell commercials, your customer most likely is not concerned with how much wattage the station has but rather how many people listen to the station at a specific time of the day. If you are selling automotive accessories, why are your accessories better for vehicles than your competition’s? Once you share what you are going to do, then you actually have to do it. Too often, society has a way of over-promising and under-delivering. Reverse that, over-deliver and under-promise – it is a great way to build a positive customer experience.

The old saying, “Don’t put all your eggs in one basket” still holds true. If you consider your own lifestyle and how many marketing messages make an impression on you daily, then as a business owner it is imperative to diversify your marketing mix. Think about it this way, when you wake up in the morning, whether it is your alarm clock or your phone’s alarm, that device is a marketing tool. You turn your Sony television on for the morning news, prepare your Folgers coffee, take a shower with your Dove body wash, and the list goes on. Those are just marketing impressions before you leave the house. The average person experiences more than 3,000 impressions daily. If you only use one method to market your business, you will miss the opportunity to grow revenue and grow your customer base.

 To continue changing, you need a team of people around you. The team should be composed of employees, friends, family, maybe local college students and/or marketing professionals. This group of people can help you brainstorm ideas, as well as roll them out. As a business owner, you must understand your audience and whether or not anything has changed about them. In addition, have a balanced team, especially in regard to age, since each generation brings strengths to the table. By having such a team around you, you will not only be able to roll out new ideas but determine their impact, assess results and make any necessary adjustments.

Heather (Penney) Strohm is the regional director for Indiana State University’s Indiana Small Business Development Center.

 

1
Text Only | Photo Reprints
Business
Latest News
TribStar.com Poll
AP Video
Ukraine: Military Recaptures Eastern Airport NASA Showcases Lunar Eclipse Tributes Mark Boston Bombing Anniversary Raw: Fatal Ferry Boat Accident Raw: Kan. Shooting Suspect Faces Judge Raw: Storm Topples RVs Near Miss. Gulf Coast Pistorius Cries During Final Cross-Examination Raw: Horse Jumping Inspires 'Bunny Hop' Today in History for April 16th Michael Phelps Set to Come Out of Retirement India's Transgenders Celebrate Historic Ruling Police: Woman Stored Dead Babies in Garage US Supports Ukraine's Efforts to Calm Tensions New Tactic Deployed in Search for Plane Suspect in Kansas Shootings Faces Murder Charges The Boston Marathon Bombing: One Year Later First Women Move to Army Platoon Artillery Jobs Sex Offenders Charged in Serial Killings Popular Science Honors Year's Top Inventions Scott Brown Announces Run for U.S. Senate in N.H
NDN Video
Baby Sloths Squeak for Their Cuddle Partners in Adorable Video Miley Cyrus Hospitalized After Severe Reaction To Medicine Raw: Ferry Sinks Off South Korean Coast Toddler climbs into vending machine 8-year-old Boy Gets His Wish: Fly Like Iron Man Much-Anticipated 'Gone Girl' Trailer Finally Debuts! (VIDEO) Dog and Toddler Wear Matching Outfits in Adorable Photo Series VP Biden: "World witnesses ordinary citizens doing extraordinary things" It's Official! Michael Strahan Joins "GMA" Blood Moon Time-lapse Actress Lake Bell Goes Topless The Five Weirdest Local Taxes in America Applicants Vying for 'World's Toughest Job' Get Heartwarming Surprise Awkward: Crist catches Lt. Gov. insulting him on camera NASA Showcases Lunar Eclipse US Airways Tweets Graphic Photo of Nude Woman Behind the scenes of the Marathon anniversary photo shoot American Airlines Responds After Girl Tweets Alleged Terror Threat 'Joke' Charlie White's "Dancing" Mistake Olympic Great & Baltimore Native Michael Phelps Ends Retirement; Eyes Rio
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity