Successful businesses know the importance of building and maintaining good working relationships, whether it is with partners, employees, business or trade organizations, the government, media representatives, vendors, consumers, or the community at large. A business must carefully balance the benefits of these interpersonal relationships and should never allow these relationships to blind their judgment especially when it relates to what is in the best interest of the business's continued success and growth
Buying advertising media based on interpersonal relationships is a common mistake made by many small businesses. This strategy throws the business's strategic marketing plan into the winds of chance in exchange for the warm and fuzzy feelings that come with doing business among friends. However, when the smoke clears the business has made costly advertising expenditures with little or no results and the long term negative effects may not readily be seen. Simply, the marketing / advertising expenditures have been made, the budget may or may not be busted, and the results may be none to little measurable penetration into the business's target demographic market segment.
Is buying media from a friend in the business always bad? No, however in order to choose the most effective media channels a business must first consider the audience or customer it is trying to reach. Developing a strong sense of the target demographics' buying and shopping patterns, interests and hobbies, entertainment and media choices for example will lend itself a tremendous benefit to making informed media buying choices. Once the advertising business has developed a strong sense of what media channels may prove to be the most effective it should try each a little at a time carefully tracking the results of each. Once this is complete the business will be able to make an educated decision on where to invest its marketing dollars, prioritizing expenditures into the mediums that have proven results for the business.
It is true that strong interpersonal relationships skills and the ability to develop and maintain good working relationships with a variety of people, businesses, and other organizations are imperative in today's business environments. However, the importance of a well designed and implemented strategic marketing plan can not be understated and is paramount to the business's development and longevity never taking second seat to friendship.
Too many times businesses make a decision based on how it affects the owner without taking into consideration how the decision will affect many others involved in the business. Owners may not realize who, or what will be affected by their decision until it is too late and once the decision is made, even when they realize it was a bad move, they may be reluctant to change back to their original operational standards.
Consider a simple decision about the business's hours of operations. Take the example of a small, mom and pop retailer that currently is open from seven in the morning until 10 at night. The owners decide they want to open earlier and close earlier, while still being open for business the same number of hours. They calculate that expenses probably will not change as payroll and utility costs will remain the same and make the announcement that they will now be opening two hours earlier at five in the morning and closing at eight at night.
The first obvious consideration should have been the employees that are accustomed to starting work at seven. There may be legitimate reasons they cannot get to work at five in the morning such as kids at school, arrival of a babysitter or the need for a ride to work from a friend or neighbor. There options are to possibly make other arrangements or the business may lose a valued employee.
The workers who are done at 10 at night may appreciate being done with work by eight, unless they are also dependent on someone else for a ride home from work. Closing time may be more exasperating to customers. Maybe they stopped on the way home from work or on their way to another job and by closing at eight instead of 10, the business will lose them as customers.
One consideration many business owners tend to forget about are the vendors. Most have established routes that work the schedule of the businesses they service. A majority will provide product and services during the morning hours and if your change in opening times require them to arrive at your business earlier, they may not be able, or willing to adjust to your new schedule. Those that service in the evening may also have a problem getting to the location two hours earlier.
It is not only the business owner that is affected by the changes and most realize that before making the change effective, they should speak with the other that will be affected and ask for suggestions. They should also consider the reasons why they want to make the change and if the decision is to make a change simply because it has been operating the same way for many years, perhaps the change should not take place.
Before making any decision, business owners need to fully comprehend the ripple effect the decision will have and how it will affect the bottom line of the business as well as the lives of others affected by their choice.
Both Amy Dube Dube & Michael Laleye are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Amy Dube Dube has sinced written about articles on various topics from Advertising Guide, New Jersey SEO Services. Amy Dube has over 16 years of sales experience and currently works in advertising for a major publishing company.For more free Articles and Marketing Tips go to. Amy Dube Dube's top article generates over 3600 views. to your Favourites.
Michael Laleye has sinced written about articles on various topics from Women, Advertising Guide and Home Schooling. Work at home on the Internet. Free quick courses shows you how. We supply free training to start your business. There is no cost to. Michael Laleye's top article generates over 301000 views. to your Favourites.