2012 PredictionsBy joanne | 24th January | Marketing Strategy, Marketing Training
After listening to Mervyn King speak last autumn, it seems that the fate of our nation is no longer in our hands (but in the hands of Europe). I don’t know about you, but leaving my fate to others never really sits well with me. I’m a great believer that you make your own luck.
And so to 2012…
My first prediction is that the news won’t really change. If you want to avoid the doom and gloom, I’d recommend not watching it / listening to it at all. It will only serve to depress you.
The perception in the British market is that money is still tight, but for many people, they’re better off than they were before the recession. They’re often not spending their money, in many instances because the media keeps telling them times are tough. So savings are increasing… and people’s money is earning them nothing in the bank.
Consequently, people are looking for better returns and there are some very interesting things happening in the investment market with people finding and using alternatives to banks.
As a result, the property investment market is buoyant. Investors are spotting opportunities and buying property across the country; the only limit being their access to finance (as for everyone else). One developer we work with has just sold 3 properties in 4 weeks… not bad considering some people think the property market is stagnant. He did have some great marketing advice though!
The luxury market also seems to be holding steady and holiday bookings in January appear to have maintained their usual peak for this time of year.
Baby boomers are driving the wellness trend and most analysts expect that to continue for the next decade; making this a great market to be in.
We were out in Lancaster city centre on Saturday night and the city was filled with people eating and drinking. We struggled to get tables in the restaurant and also the local bar… but they’re both great at what they do. So I suspect the businesses offering great value and good quality will be busy. And those offering the same as others will be quieter.
So my top tips for 2012?
- Differentiate yourself. If you offer the same as everyone else, you’ll melt into the background.
- Customer service is king. Never before has service been more important – you must remember that any customer is paying you a huge compliment if they choose you. So look after them.
- Make the most of mobile technologies. Smartphones have really come of age in 2011 and 2012 and they are changing the way people search for and buy things… you need to take advantage.
- Keep in touch. It isn’t the customer’s job to remember to do business with you.
- Remember that people are spending money. Stop watching the news and feeling negative and instead get out there and meet your customers. Your attitude will be the measure of your success.
- Once you’ve got some momentum, do everything you can to keep it.
- Contain your costs. Check every bill that comes into your business – just last night I found I’d been spending £5 pcm on roaming for my mobile phone – something I added over a year ago and never removed! It’s only £60, but that’s an extra hours work I’ve had to do to pay for it. If I could reduce every bill by the same amount, my life would be much less complicated.
Have fun and may 2012 bring you health, wealth and happiness in abundance x