I’m lucky in that, despite working mainly with SMEs, I am able to keep in touch with new marketing concepts and big ideas in the corporate world through my connections with Cranfield School of Management. The challenge is to translate the theory and new thinking into practical actions that smaller businesses can really benefit from.
I’ve noticed that those business’s that really embrace new ideas and are keen to try different approaches tend to progress more quickly towards their goals. By contrast, those that use lack of time or money as an excuse for not breaking the mould tend to move more slowly.
Granted, it’s not always easy to decide to throw your marketing budget, however limited, at new marketing techniques and it often feels safer to stick to tried and tested methods even when they don’t work particularly well. Far from being defeated though, some businesses simply thrive on finding creative solutions to stretch their budgets. What seems to set these companies apart is their willingness to think, and act, like big businesses. They are by no means reckless, more they are prepared to make tough choices and decisions to get to where they want to be.
The others? Well, they may be happy to plod along doing OK whilst never quite reaching their potential, but they will never be the big businesses of the future.