We all hear similar descriptions of the small business owner – they wear multiple hats, have too much on their plate, they are hard to pin down. And this is completely true. For those of us that have been in the corporate world, it’s sometimes hard to understand the challenges of a person who is the equivalent of the CEO/CFO/VP Sales & Marketing/Chief Customer Officer and any other “C” label you’d like to give them. There is no shortage of articles that try to help these owners to be more organized, make better decisions, and take control of their day. In this post, I’m going to focus on one thing that you likely have not heard much of – be more data driven vs. emotion driven in your marketing decisions.
Business-to-Business thrives on the simple basic principle of buying and selling. With all the hoopla over the past few years regarding digital technologies and social media, it is easy to lose sight of this most basic principle, which has existed for centuries. The impact of digital and social technologies on the nature of buying and selling, however, cannot be understated. They have changed how businesses interact and engage in the acts of buying and selling.
In the information age, operational efficiency is not a key competitive advantage; in fact, it is directly tied to rigidity and inability to adapt to change, which are a huge disadvantage in the new global, connected economy. Flexibility, agility and adaptability are the new competitive advantage.