The core is where the happiness is
This cool cartoon below on growing the core has been created by blogging legend Hugh MacLeod at Gapingvoid.com, as part of the promotion for my talk at Brand Manage Camp 2013 in Las Vegas, on September 16-17.
These days it seems all the cool kids are focused on expanding their businesses into new markets. Which, in and of itself, is not a bad thing. As long as you recognize that this is a risky endeavor that, while generating some high profile successes, very often ends in agonizing losses – both in the expansion AND in the original core business.
The problems usually begin when the new is pursued at the expense of the core.You see, the real (and un-sexy) truth is that virtually all top-performing companies achieve their superior results through the more profitable and less risky path of growing their existing position in their core business. Research has proven that it is 5 times cheaper to keep a current customer than acquire a new one!
As the cartoon sums it up, the core is where the happiness is!
While, on the surface, this argument seems pretty straightforward, the reality is that in many organizations making the case for growing the core is actually far harder than the sexier approach of going after new targets and markets. That's why I'm so excited that David Taylor is joining us at Brand ManageCamp 2013.
David, coming to us from across the pond, is the author of "Grow the Core: How to Focus on Your Core Business for Brand Success." In his session, he will be providing us with inspiration, practical advice, proven tools, and inside stories of brands that have done this successfully. As a result, we will learn how to define our core, how to make the internal case for focusing on the core, and 6 practical 'workouts' to help us actually grow the core.
If you want to see David in person (as well as 13 other amazing speakers) you can join us at Brand Manage Camp 2013 – Sept 16-17 in Las Vegas.