Is Your Business Relevant? This is one of those questions like, “If a tree falls in the forest and nobody is around, does it make a sound?” Logic tells us that the quick response should be, “Of course my business is relevant”, BUT…how do you know?
What are the criteria we should use to determine the relevance of a business? Is there a Good Housekeeping Seal of Approval that determines the relevance of a business? Of course not.
So, what makes your business relevant today?
- You and your team
- Great products or services
- Excellent customer service
- Strong message content
- Compelling offer (a.k.a. ‘Secret Sauce’)
- Market timing
- Outstanding relationships
- Other ___________
As you can see from this short list, there is no one thing that makes your business relevant, it is a combination of many factors. For this reason, branding and marketing experts struggle with the question of relevance daily in order to help clients market and promote their businesses and discover the right formula for success.
A better question than “What makes your business relevant?” might be, “Do prospects even know you are out there?” A very scary thought, however, one you need to consider in order to develop a high-impact social media/marketing plan to move your business ahead. If you’re not showing up on your prospects’ radar screen today, then the challenges associated with building a strong brand identity and effectively marketing your business become much greater.
How to Determine What Makes Your Business Relevant
The short answer is to ‘ask’. But you need to dig deeper. There are a number of avenues to explore to find out what makes your business relevant. Here is a short list of recommended approaches to help with this assessment.
- Major client feedback
- Customer Surveys
- Partner evaluations
- Focus group interviews
- Market studies
- Industry reports
- Competitive analysis
Knowing what makes your business relevant to customers, prospects and to the market as a whole will make it much easier to discover the right formula for success.
Keep in mind, too, that customer needs and the market are constantly evolving and changing. So, be prepared to revisit your ‘game plan for success’ on a periodic basis to ensure that your business remains relevant.
Are you keeping up with surveys and getting feedback from your customers? Let’s discuss.