Complacency. The death of your business?
As a marketing consultant, I hear it all the time “we don’t need marketing, we’re already successful”. While this statement may be true today, what happens if something changes, something unexpected, something you haven’t planned for?
It happens all the time in business. Market environments change, new trends emerge, competitors spring up from nowhere, technology advances, governments impose new legislation and your once ‘loyal’ customers (dare I say it) move on.
Over the years, we’ve witnessed the shock demise of some of the world’s largest and arguably most successful companies; look at Kodak, General Motors, Blockbuster, Nokia and more recently Toy’s R Us. Many of these companies have one factor in common, they grew complacent and failed to adapt to change.
If it can happen to global giants, why do you think it couldn't happen to your business?
When companies grow complacent, they stop looking for opportunities, marketing activities stagnate, productivity decreases, customer service levels drop, and any threats to the business are missed or ignored. If we look at some of the UK’s most successful companies, e.g. Joules, Unilever, Rightmove and TESCO; love them or hate them - you will notice a few common factors that contribute to their continued success;
Long-term success comes from planning, staying ahead of the game, and always looking for ways to improve, more forward and most importantly, looking after your customers well.
If you recognise complacency in your business, maybe it’s time to get your head out of the sand, evaluate your marketing strategy and make some positive changes.
A great place to start is with a SWOT analysis of your business – we can help you with this.