Nothing will be the same after the recession as it was before the recession. Consumers habits will be different, technology will be different, controls will be different, regulations will be different, and attitudes toward work, money, trust, loyalty, leadership and borrowing will be different.
Are you positioning yourself for a different market place?
I hear many business owners and executives hoping to gut out the recession and emerge on the other side intact, planning on operating their businesses just as it was prior to the credit crunch, and economic disaster we are calling a recession. That would be detrimental to the future of your business, and could even be deadly. You must reposition.
Permission marketing such as through social networking and blogging and building permission email lists are going to replace cold calls and prospecting. Buyers don't want to be bothered with the process, there are too many sales people knocking on their doors, and the buyer just wants to find the expert they can rely upon.
Are you building your permission assets? Are you getting involved in social networks? Are you taking your sales people out of leads groups and putting them into research mindsets for the blog they should be creating?
Consumers are going to be looking for the most knowledgeable people to talk to and work with. They are searching for someone they can trust. The expectation of finding the trusting supplier, retailer, professional is along the lines of hitting the lottery. It doesn't keep people from trying, but their expectations of finding a winner is quite low. How are you positioning yourself to be that "expert"?
These are just a few of the areas businesses should be working diligently to reposition themselves, and out-position the competition. If you thought the gloves were off before the recession in dealing with competitors; you ain't seen nuttin' yet!
Showing posts with label Post recession. Show all posts
Showing posts with label Post recession. Show all posts
Monday, March 23, 2009
Saturday, March 21, 2009
What is the Recession Legacy?
The Great Depression legacy was a generation of savers who believed in hoarding and keeping everything. Remember grandma's tin foil ball? The drawer of reusable wax paper? My mother still washes out plastic bags and brags about still using wedding gift Revere Ware 50 plus years later. Holding onto possession forever is one of the Great Depression's legacies.
The depth and length of the current recession is sure to have a legacy left on the current generations as well. Although the impact will cause a different reaction than the Great Depression caused, it will still have lasting impact on those who experienced it directly.
Expect a greater effort to take care of the planet as this financial meltdown is another example to younger generations of the Baby Boomers wrecking what they touch. Expect first time home ownership to reach a later age than ever before. Because of the volatility of our age, car dealerships and car owners are going to look for alternatives to 60 month and 72 month financing because so much in the world will change in that amount of time. Neither is interested in making that long-term commitment for a vehicle.
During the recession the divorce rate will actually go down because people can't sell joint assets and get out from under mortgages. The younger generations will see this as another trapping of marriage and will opt for cohabitation even more and avoid locking into a marriage commitment.
The need for nimbleness and flexibility will increase because that is the best defense against a negative turn.
Because the internet has made the world a village, expect expatriation to occur with greater frequency as people make use of their nimbleness and become nomadic in traveling to "better" places. Without home ownership, marriage or any other long-term commitments, people will have more freedom of relocation unless governments restrict immigration in countries large numbers of people find desirable.
Already in younger generations there is no hope for social security. They have tremendous distrust of government, and for good reason. Big business is being painted as the bad guy in causing this recession and the younger generations will use this to fuel their entrepreneurial approach to occupation and avoid working for large employers.
College degrees will be questioned because of the large expense with an undetermined return on investment causing more young people to skip the traditional education and instead go for apprenticeships or investing in the purchase of a small business. The volume of information on the internet for running a business and the social networking will make many business school majors as obsolete as history majors.
These are my projections, and the better I can define the world on the other side of this recession the better I can position myself in the correct occupation. What are your projections?
The depth and length of the current recession is sure to have a legacy left on the current generations as well. Although the impact will cause a different reaction than the Great Depression caused, it will still have lasting impact on those who experienced it directly.
Expect a greater effort to take care of the planet as this financial meltdown is another example to younger generations of the Baby Boomers wrecking what they touch. Expect first time home ownership to reach a later age than ever before. Because of the volatility of our age, car dealerships and car owners are going to look for alternatives to 60 month and 72 month financing because so much in the world will change in that amount of time. Neither is interested in making that long-term commitment for a vehicle.
During the recession the divorce rate will actually go down because people can't sell joint assets and get out from under mortgages. The younger generations will see this as another trapping of marriage and will opt for cohabitation even more and avoid locking into a marriage commitment.
The need for nimbleness and flexibility will increase because that is the best defense against a negative turn.
Because the internet has made the world a village, expect expatriation to occur with greater frequency as people make use of their nimbleness and become nomadic in traveling to "better" places. Without home ownership, marriage or any other long-term commitments, people will have more freedom of relocation unless governments restrict immigration in countries large numbers of people find desirable.
Already in younger generations there is no hope for social security. They have tremendous distrust of government, and for good reason. Big business is being painted as the bad guy in causing this recession and the younger generations will use this to fuel their entrepreneurial approach to occupation and avoid working for large employers.
College degrees will be questioned because of the large expense with an undetermined return on investment causing more young people to skip the traditional education and instead go for apprenticeships or investing in the purchase of a small business. The volume of information on the internet for running a business and the social networking will make many business school majors as obsolete as history majors.
These are my projections, and the better I can define the world on the other side of this recession the better I can position myself in the correct occupation. What are your projections?
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