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The more Vik hears that things aren’t going well because of the economy, the more he’s been digging. Here’s how he sees it.
it’s not the economy
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{ 3 comments… read them below or add one }
great insight, Vik! there are such powerful tools available today that are free or low cost, but they don’t come with paper instruction manuals. it seems like businesses that are failing to grasp these tools are looking for that phantom paper manual and don’t know where to turn to when their screw is missing, so they just give up. i think education still needs to take place about what is currently available, and how to effectively use it. while smaller companies may not have the budgets to pay people to experiment with new tools and find new successes in their business, the people in charge should work harder by educating themselves at night or during the weekends if they want to work smarter. then perhaps they can justify to themselves why they should be spending their budgets on what matters these days. its not the economy, but its because those businesses cannot clearly see the value in these new activities. thanks for helping to shine the light on what is important online these days, and what needs to be done about it!
That’s definitely an interesting perspective. I think there are a lot of businesses out there that are scared of the economy, so they’re holding back, and trying to wait it out. But I think that while some businesses are retrenching their positions, that is going to open the door for other businesses to come in and increase their market share. The companies that can connect to their customers, and provide them with the goods and services they want at a competitive prices are going to come out ahead. So companies need to be wise with their dollars, not frugal. Investing in PR and promotions should be tied to measurable metrics that lead to success, and companies that hadn’t been doing that before (and as you said “getting lucky”) are already behind the times.
Brian – great insight!
Toby – Completely agreed!