Tuesday, November 1, 2011

When the going gets tough

Yesterday, I was interviewed about how food businesses can find success in a tough economy. Here are some of the highlights of my advice. Remember what you're paying for it, so take it for what it's worth.
  1. Stop trying to be all things to all people. Find the 20% of your market that loves you and do everything you can to make them love you more.
  2. Connect your products and brand to something that's trendworthy and newsworthy
  3. For every trend there's a counter-trend. Head in the opposite direction of the market leaders and you'll find a lot less competition.
  4. Make sure people know the story behind your product.
  5. Just as in society, the middle class is vanishing from the shelf -- if you're not the least expensive or incredibly special, I wish you luck. You're going to need it.
It's a tough time for business right now. But no one ever got through tough times by laying low. That doesn't mean you have to buy TV commercials, distribute coupons, or slash prices.

There are more ways to reach consumers and distribute products than ever before, but they require work rather than money. We're in a 'sweat equity' economy and those marketers who are willing to roll up their sleeves and work social media, work events, work mobile, work public relations will earn their way to the top as long as they have the right position.


  1. Harvey, good stuff as always. I truly enjoy reading your thoughts every day.

  2. Thanks Tim. It's nice to know I'm creating a little value in this world!

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