How to Beat Projections for a Slow Recovery

The current business market is like a NASCAR race stalled by a crash. When the restart flag drops, the only way to out-perform the field is to step on the gas and blow by your competition — in other words, by increasing your company's market share.

The current business market is like a NASCAR race stalled by a crash. When the restart flag drops, the only way to out-perform the field is to step on the gas and blow by your competition — in other words, by increasing your company’s market share. Learn how to beat projections for slow market recovery in this Q&A with Candor Managing Partner Jim Kessler.
Q: Why should companies be concerned about market share?
A: Most industries have experienced a severe downturn, and economists project a slow recovery. A company’s best option to achieve profitability and out-perform market projections is to obtain a bigger piece of the pie. With your competitors in the same situation, now’s the time to make a move and take some of their turf. 
Q: How can companies quickly increase their market share?
A: Pivot the majority of your marketing spend toward digital marketing and paid social media. Through these channels, companies can focus on high-value audiences at a fraction of the cost. Use video and imagery to differentiate your company’s understanding of customer needs. Leverage the measurability of digital and social tools to achieve ROI goals.
Q: Does increasing market share require reinventing the brand?
A: Absolutely not, but brands should look to adapt their messaging to increase awareness and do a better job of selling their unique value propositions. Messaging must go beyond price and services — tell your audience how you can make a difference in their lives.
Q: How can companies be sure focusing on marketing and advertising right now is the right move?
A: Candor practices what we preach. Just as we are advising our clients, we are also ramping up digital marketing and advertising efforts on behalf of our own brand. We recognize our customers are in need of trustworthy partners now more than ever, so we are very visibly extending opportunities to assist through marketing. We’ve dropped the foot on the accelerator, but we’re being strategic in navigating the course — and it’s paying off.
Candor can help your company increase market share to offset projections of a slow recovery. Email jim@candorpr.com to start the conversation.

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