A thriving business today cannot guarantee that it will maintain its growth or reputation. One wrong move, one tone-deaf marketing campaign, or one insensitive remark can put them out of business.
However, things don’t end there. A company that has seen better days can see better days once again if they successfully regain their position in the market. Champion has seen it happen, and Victoria’s Secret is making an attempt to make a comeback despite its dwindling sales.
The future remains open for possibilities. But what does this mean for a small or disgraced business?
1. Security means constant vigilance.
Anyone who’s had to run a shop in Denver, CO, or build a website knows that security is something to think about every day.
You might feel secure when you have newly launched your brand, but if your SEO services do not include setting security measures in place and using secure protocols, you’ll soon realize that, no matter how small your brand is, there is someone trying to target it to access crucial information.
If your site gets hijacked by hackers, you will need to pay a hefty sum to get access again. In a brick and mortar store, it’s akin to being robbed or held hostage. You pay a sum to get everything back in order, and then you pay even more to double up on security to prevent such problems from happening again.
2. Not all that glitters is gold.
It’s easy to believe a false sense of security, and you may even think that your site will continue to blow up — but it won’t. Sales will plateau if you don’t keep improving and satisfying the demands of customers.
The good press you’re enjoying right now can easily go away once the shiny new toy enters the market. The goal of marketers is to come up with a fresh take each time so that customers don’t get bored with what you put out. This isn’t just a matter of marketing, however.
Manufacturing also needs to consider what customers want and how they have changed over time. An older, more established company like Vans will have their classic products, but even these can use a refreshed look to cater to a younger market.
Failure to adapt to the changing times will sooner be a company’s downfall than a negative review, which can be replaced by a positive one if they invest in reputation management services.
3. Learn from the competition.
What many attributes as a driver of Aerie’s success is its marketing that promotes diversity and body positivity. It’s something many have openly called out Victoria’s Secret for, citing the more established brand as unattainable and limiting.
Even with models of different cultures walking their famed Victoria’s Secret Fashion Show every year, those they officially name Angels have a profile that is lacking diversity.
Lee, Wrangler, and Levi’s, all providers of jeans, have very different takes on the market and they have each captured a loyal following. However, one has gone mainstream above the other two. Levi’s banks on the 90s nostalgia that influenced fashion in recent years and their classic denim has become a hit as a result.
Companies need to learn one thing about running a business: nothing is set in stone, and the good fortune or bad hand you’ve been dealt can be turned around depending on how you conduct your business.