An outward sign of an unhealthy business is the use of unhealthy business practices to keep it afloat.
- Does it offer frequent discounts? Sure, those can get attention, but they also eat into profit margins.
- Over-the-top advertising tactics? For the initial shock factor, they could work, but then consumers are a tough lot and will filter those out soon enough.
That is: Block them out, or worse, complain. And in these times, bad publicity is bad publicity, which is not what an already struggling business needs to be remembered for.
Resorting to such tactics is essentially self-sabotage, and paints a pretty bad picture of the business that uses them. Think about it: You have a product, but you only get to sell it at a discounted price, and you have to resort to extreme measures to get people to notice that you’re selling it.
If you have to shriek, wave, and practically jump up and down to get attention from your market, if you need to keep offering sales and discounts to entice people to buy, then you’re ignoring the painful truth that you can be selling things that your market doesn’t really want or need, or you’re failing to show the market the value that your product or service has.
And quite possibly, you may be doing both. Continue reading 2 Ways You Could Be Sabotaging Your Own Business