Look, this tough market economy that has emerged is not going to go away any time soon. In fact, we believe that this dynamic 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 gone to great lengths to deal with these market dynamics? What have you done to declare yourself the competitor and take your piece of the pie?

That’s right: given the problems and difficulties your competition is experiencing, are you wisely paying attention to and exploiting your competitors’ weaknesses and vulnerabilities? Or are you the weak link and a target for your distinguished competition? Just check out their active forecast and interview some of their key producers – their war stories and flat faces will tell you the whole story. If more time is spent discussing competitive losses than competitive wins, you may find yourself in a free fall. In which direction is the Opportunity Base going? Is he rich or anemic? What is the composition of your prospect base? A laundry list of old faithful or an enticing list of new and promising business sources?

What is the most exciting thing your company has done in the last 9-12 months? The launch of a new product or service, the victory of a major project, a new strategic alliance, the expansion of your distribution channel, a new board member with industry influence joining your company, etc. or have things been “business as usual”. This can be an eye-opening story. So what can you do about it? First: Reach out and engage industry talent to help access/assess the drivers that are affecting your business. Avoid bringing an academic, at this stage. The severity and depth of the impact that this financial crisis and the harsh market economy have had on business is evident.

We all need real-world practitioners to help us and sources that don’t “break the bank.” Leverage a group that is dedicated to and experienced in your business, understands the dynamics, and can relate to and “speak the language” of your prospects and target competition. Interestingly, some of this talent can be found in industry groups, trade associations, and other sources that cater to your niche. In some cases, they have deeper experience and may be more closely connected than your company. Second, do an active search for potential partners, even if your business has struggled or not experienced strong results in the past.

The current Market Jungle reinforces the point that no company can do it alone. Be sure to do your homework: sort through the motivations and reasons why your company needs partnerships and alliances, develop a comprehensive profile, and avoid making compromises when you start the recruiting effort. Quality partners just don’t fall into your lap. Third, too, many companies are pointing fingers at their direct sales and third-party distribution channels for not being 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 given their valuable field organization the tools, freedom and influence in making decisions. to compete and succeed.

Unsurprisingly, when business goes bad, management’s reaction is to tighten the reins and tie up the field with in-depth (sometimes daily) forecast sessions and 200-pound contentless reports. All with the result of decreased focus, killing productivity and negatively affecting performance. For starters, what your field team doesn’t need is more Basic Sales 101 or refresher training. 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 for your sales team? Or are you still flying on autopilot and applying the same old tired 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: Checking out our reference at the front of this article. Commission some of your smartest people (and leverage a third party to round out the effort and keep things unbiased and objective) – find out what your competition is up to. No guesswork allowed: the neck of your company is at stake. We need a comprehensive look, not casual. Take a look at your main strategy and tactics (especially if they have made any recent changes), the composition of your existing and new customer/prospect base, your distribution channel (partner composition and how it works), pricing and marketing strategies. packaging, new ads (at all levels), management changes and direction changes, customer service scorecard (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 intent not only to gain insight, but also to consciously identify areas of weakness that your company can incorporate into a forceful campaign to attack your base and deliver tangible results. Nothing is more satisfying than having little or no cost of sales and finding a customer base that is eager to switch to a different vendor. There isn’t a company out there that doesn’t have cracks in its armor. Put this into practice for a few business quarters and marvel at the results. It is disconcerting, especially in a down economy, that we see so little attention given to this area. Fifth and last: Take a hard look (and be critical) of your own marketing capabilities, program mix, and effectiveness. Are the programs you are implementing hitting the mark? If not, something must change. Does your internal team have the material to conceive, develop and implement new market programs that can keep pace with this fragile market economy and brutal competition?

Is your company experimenting with the new wave of various Internet-based approaches? If so, how did your expectations match up with reality? Is your company doing something special for your valued customers? When was the last time your senior management team visited you? What is your Customer Recognition Program 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 state 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 new twists on competitive positioning?

The five areas outlined are fodder for implementing programs that can help your business get through this market mess. Follow these five steps and choose one. We have to start somewhere: it is better to take small pieces than to try to swallow the elephant in one bite. Pick the most critical area and get started. As you gain traction and experience, migrate at each step, until all five have been applied to your business. That’s what mastery is about. None of us can afford to sit around and laze around, that will only result in becoming a Victim. Our goal in this article is to come home with some basics and see each of you become “the Competitor and the Winner.” Good hunting!

Copyright 2009 Edmond M. Hennessy Performance Marketing Group