Will You Lose Or Gain Market Share In 2019?
Why Market Disruption Matters
It’s a competitive world. Every business arena is constantly evolving. Over time, various players will enter or leave the marketplace. Depending on your response to change, your company's market share can increase, remain stagnant, or decrease (see chart below) .
However, there’s another key variable to consider. Historically, companies tend to grow in spurts and then hit a growth ceiling. They flat line! How YOU respond to such transitions (and how quickly) will determine your inflection point and next growth cycle.
It’s vital to plan for that. An inability to make critical changes desired by the market will lead to market decline. A successful disruption or relaunch of your marketing practices will lead to increased market share, significant growth, and larger profits.
Why Market Share Matters
But, there’s more to consider. In today’s business environment, too many leaders focus on growth metrics without giving thought to the most important metric of all - market share.
Market share is a much more powerful barometer of your company's future growth and profit potential than any arbitrary growth target. Think of market share as a key indicator of your company's vitality and capacity — just like your blood pressure is an indicator of your body's health. Your future success depends on a strong pulse in a vibrant market.
Utilizing a well-calibrated marketing flywheel that leverages “12 Triggers” provides critical insight to available opportunities and expands your company’s reputation for giving its customers what they want most, thereby consistently increasing market share.
Why 12 Triggers Matter
Most likely, your competitors will tend to use their gut and best guesses (we call it “Piñata Marketing”) when responding to market evolution. They look around to see what their competitors are doing and then make similar moves. That inefficient status quo mentality does not lead to disruptive changes in marketing practices and market share.
If you’re the CEO of an ambitious company, then you should shun advice from “Piñata People” who rely on popular trends, erratic experience, or poorly-informed guesswork. Don’t become their latest “lab rat.”
To change the status quo, you should to install the 12 Triggers marketing flywheel that is customized to your company’s unique capabilities and to your customer preferences.
For over 25 years, BizTrek’s 12 Triggers marketing flywheel has been helping ambitious CEOs eliminate marketing guesswork and quickly achieve significant and sustainable market share growth. Let’s see if we can help you too.