Market-share vs. Profit Strategies
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The joys of dating…
We all know a friend who, at some stage in their single life, has dated anything with a heartbeat. (Let’s be totally honest, some of us are those friends). Dating anything with a heartbeat is essentially a market-share strategy—getting your brand out there any way you can, learning from experience, polishing your image while honing your products and services. The strategy serves a purpose—you discover what you do want by exploring what you don’t want, you work out who you are and what matters. And eventually, for most us, we outgrow it. It serves its purpose and we move on. Why? Because a marketshare strategy is exhausting. It demands a lot of resources—it requires us to spend time with people who we aren’t really compatible with, to invest money in programs and events that aren’t always our cup of tea, and to constantly make exceptions in our system to accommodate an endless array of idiosyncrasies. Most of us only endure this because we intend for it to lead to that one special account where, having found it, we can invest all of our energy and resources while enjoying the mutual benefits of genuine compatibility. (Wistful sigh).
Business is very much like dating, especially so in the B2B service sector. A market-share strategy will serve its purpose as long as you have a clearly defined notion of what that purpose is and for how long you plan to sustain the effort and investment.
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