Back in Mid-October 2008 the world’s economy changed forever. I will leave it to you to go search all that went on that month that started the collapse the financial institutions which resulted in millions of peoples losing Trillions of Dollars in a number of different ways.
The week after the crash businesses and business people were forced to change their ways in doing business. The primary fundamentals of marketing had to be changed. Thus, Marketing v20.08, as I have dubbed it, was developed.
MARKETING version 20.08
I remember being in a meeting with a mentee in October 2008 when she was called out of the meeting to take an emergency call from her banker. When she came back into the room she was pale and a little distraught from the conversation she just had. Her second round of financing she received from an investor group was blocked. Seems it was backed by funds set up by some dude named Madoff. Her bank told her she had less than 3 months of operations funds available.
Well, needless to say this one event changed my mission as her mentor. However, it did lead me down a path that showed me how much deception was built into so many business deals. Naturally, her plans had to change and change quickly.
First thing on the agenda was to go through all agreements she had with vendors and call face to face meetings to 1st., see who the person was they were doing business with and 2nd., no longer make any agreements with clients unless they are meet in person. Gone were the phone call agreements and the ‘wave of the hand’ approvals of business agreements. Trust building and trustworthiness became the name of the game and how her company would set themselves apart from others in the market. Thus, my first exposure of Marketing Version 20.08.
Changing
An entire year has passed since the bottom fell out of the economy and the repercussions are still being felt in every market. The golf industry, and all its supporting industries, being one market that has taken the biggest hit. Still, many in and out of the golf industry seem to think that Change is not needed.
Even the most financially sound businesses will be scrutinized by today’s consumers. Those so called recession proof businesses will over time not be so recession proof if they too do not adapt to what is changing around them. Changes have to be made in how they are seen in the market. The economy has changed to be more consumer driven.
Who can be trusted and who cannot be trusted will be the information consumers are needing. How will this information on who can be trusted, or not, be offered? You are looking at the number one way of transferring information to the world..the Blog. Once the consumer has searched the person’s name and company the Blogsphere will be the next stop. The worthiness of what is said or not said in the blogs on that person and company will be weighted and not necessarily taken as the truth, but as information for discussion with the person or the company.
Where to Change
At the forefront of Marketing v20.08 is face to face meetings. Placing a Facebook Page or Twittering until your fingers bleed is not going to work..never has. When it comes down to consumers, this includes business to business consumers, writing a check or (for those ecommerce people who do not know what a Check is) funds transfer to someone in return for something, it will only be done because they Trust them. Even if there are contracts and written agreements those documents would not even be initiated unless there was a Trust built at the very beginning of the business relationship that started with a Face-to-Face.
How does all this get changed? How does a business shore up its reputation in the Market?
It starts with changing to a Marketing v20.08 attitude and implement face to face meetings…not teleconferencing or phone interviews. Get on a plane, get out to see who it is you are needing to do business with. (I know the airline industry and travel industry will love me for that)
Today knowing how to deal with people, real people, will be a necessity to do business today. Knowing how to instill trust is a huge part of Marketing v20.08. If you are not good at those skills or do not have people skills you will have to develop some quick.
Hope you have in your New Year’s resolutions to look into changing your Marketing tactics and developing a sound strategy of getting to know People instead of posting insane Tweets and lame pages around the internet in hopes someone stops by to see your trustworthy.
Business people are going to have to reach out and touch someone to make it in this changing economy. I hope you find a way that works for you. Let me know how I can help.
SPONSOR NOTE: Look for the launch of the New Business Golf Country Club on January 1, 2010. The new mission of the private business/social network is to..Put Business Back on Course..the Golf Course that is. Stay tuned for more information on how to join ‘The Club’.
