What you can learn from the Post Office woes by Andy Ebon, The Wedding Marketing Authority
Reporting in the national news about the United States Postal Service bleeding red ink reached extreme proportions, recently. Deficits have soared to a projected level of $15 billion in 2011.
Two major reasons for the financial condition of the postal service are: Competition from private carriers, such as FedEx, UPS, DHL, etc… The increasing use of email for general communication AND online bill paying.
Creative solutions suggested by the postal service include: Eliminating Saturday delivery Cutting back to four days delivery, during the business week.
This is a world-class example of general market passivity. I’m a happy user of U.S. Priority Mail, but other than that, finding innovation in the postal service is a lost cause.
Any wedding industry business, particularly small business, is at risk if it rests on its laurels. For example, the disc jockey entertainment industry is perhaps composed of 10-15% full-time businesses. Yet, over the last 30+ years, it has managed to dominate wedding entertainment, in lieu of live bands, by a market share of some 95%.
Thirty years ago, DJ’s competed with bands, for bookings. Today, DJ’s compete with other DJ’s. To compete effectively, one must clearly communicate product/service differentiation and value. If you don’t do it, your business… or industry segment… might go the way of the dinosaur… or the United States Postal Service.
WedBiz Journal
NAWP Connect 2011
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From The Wedding Marketing Authority Andy Ebon
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wedding professionals to work together for success.
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