March Madness: Your Business is Your Game!
There is a buzz in the air, and it’s called March Madness. For many people, March Madness is defined as the NCAA College Basketball Tournament. Each team participating in this tournament has built strategies that they hope will help them succeed… and give them an opportunity to win. So, what can we learn from watching these teams in this tournament to help us with our business?
What makes a winning team? The winning team needs to have the right strategies. Strategies that are aligned with the team’s goals, skills and team members. The winning team also needs to be flexible. They need to be able to pivot and adapt to the changing game.
Think of your business as a game. How can you adapt your strategies and bring flexibility to your business game for long-term success and impact?
Changing Your Marketing and Business Strategies
Not all marketing and business strategies will achieve the outcome you desire. Therefore, it is important to reevaluate and change them as the business environment changes, your customer expectations change, and the economy shifts. It’s okay to shake things up. Just like in the NCAA Basketball Tournament, making adjustments is the key to winning. What adjustments can you make to your business to increase your success?
Start by evaluating these key areas to ensure your marketing efforts stay aligned with your business strategy.
- Research marketing trends. Has it been a while since you’ve taken a look at trends in your industry and what’s working best for marketing? If you want to stay relevant, it’s important to stay up to date in what’s happening in the current environment.
- Invest in social media. A strong social presence is essential for most all businesses. Has your target audience shifted where they spend their time? If so, it’s time for you to pivot and shift where you invest in your presence.
- Refresh your website. It’s more important than ever to have a crisp website that is very mobile friendly. Just like March Madness, customers expect a fast game. If your site is slow or outdated, you’re missing out on business.
Bring Flexibility and Adaptability to Your Business Game
In the tournament, each team is pivoting and adapting to the specific moment during the game. The business plan you are implementing is the foundation of your business. It too, will need to be flexible to react to the changes and developments in the ever-changing environment and landscape surrounding your business. It is necessary to adapt to this changing landscape including changes in your client’s needs, expectations, and/or market conditions.
Consider these three areas to bring flexibility to your business.
- Create new products and services. Would your business benefit from adding a new product or service? If so, what do your customers need right now?
- Make improvements to existing products and services. Maybe you have a great product or service, but the maturity and/or expectations of your customers has shifted. How can you take an existing product and make it more desirable to your audience?
- Market Segment: Would your business benefit from expanding into a new market segment? You could be missing key opportunities by not shifting your business to meet changing needs.
We can learn so much from March Madness. By running your business as a game, executing your business strategies, and pivoting when need be, you can achieve much success.
About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh-based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.