A few weeks ago I attended a networking event geared towards developing better business strategies. It was somewhat of an eye opener – not really the content of the event, what was more interesting was the comments from one of the attendants of the event. He was shocked that most of us were comfortable, or maybe resigned to the fact that our corporate information is so easily shared or accessible. He seemed to believe, still, that anything you develop as business should remain confidential. My first thought was ‘wow, how niave!’.
As a business manager I understand the necessity of competition. Competition is what makes the economy grow, gives customers choices to suit their needs, and lights that fire under you when you need to step up your business proposition. Of course I know what my competitors are offering – I research them, just as I’m sure they are researching my offerings. It surprised me that this gentleman seemed to be so set on hiding or trying to control, or maybe just feeling in control of what the competition knows or doesn’t know. I hate to be the bearer of bad news, but your competition always knows!
The internet has played a large role in this change. We have evolved over the last 10, but particularly 5 years to be a nation consumed with finding more information. This has included our desire to be on top of the news, on top of trends, knowing what the latest sports score is, and of course what businesses are doing well, so that you can do as well as they are doing! We’ve got so many outlets to share information so freely – Linkedin, Twitter, Facebook, general websites, and even just plan old email! On top of that, your customers are more aware than ever before. Years ago, the business options may not have been there in your area, or you knew someone from a friend of a friend of a friend that you thought you’d give a shot, or you tried the other competitor simply because it was time to try out the newest person in town. It was all a lot simpler, and yet harder for the client to really find out the core values and propositions companies were able to offer.
With information about anything, everywhere, selling your business offerings has become less about the information you provide (or try to hide!), and more about the connections you have or make with that prospective client. This can include face to face, retaining clients with smart customer service or loyalty programs, or even impressing them with your savvy on your website, and your many connections on Linkedin. The way in which we source information, use information, and connect with people has changed. Have you changed with it?
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