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Viz Witch Solutions: How to Redefine a Market--Think Outside of Your Industry!
How many companies out there are in the midst of reinvention?

When you begin redefining parts of your business, your first concern is your market, and your market is largely defined by the answer to "why." Why are you making changes...and why now? Then you consider the investment you'll make in this transition...you weigh the risk and determine the steps.

But, you can't help wondering that when you go through this process, are you going to come out on the other end having created the value you intend for this new market. That value needs to exceed expectations, or why bother? What you hope is to set yourself apart from competition...what you dream is to set a new standard for your industry.

While redefining your market might be a strategic endeavor brought upon by unhappy numbers, it is also an event of inspiration. For that, you really don't need the intelligence of Einstein, the guts of a bull fighter, or a crystal ball. You don't even need "new," you just need "different."

The Viz-Craft Solution: Step outside of your own industry and gather some ideas on how entities in other industries define themselves and their market. Spotlight please! Enter--the tourism industry. It's like a one-stop shop for ideas on rebranding, redefining, and growth through challenge. Think of it like this: towns never go out of business...they must always be able to market. It's just a matter of to whom do you market...and how.

What a great way to embrace what some would consider a seasonal negative (the often intense summer heat). Their marketing blurb begins..."Go ahead, put our feet to the fire. We're hot but never bothered..." I'm in North Carolina, so I can totally appreciate the South Carolinian viewpoint here.

But, let's roll on with this example and see where you might find some new thoughts on redefining your market. Here are a few tidbits I've collected from checking out the Columbia, SC Convention and Visitors Bureau -- who has done some defining to keep up with trends, their customers' needs, and how to reach the unreachable in their market. This isn't complicated or technical -- it's just smart.

--A Hospitality Hotspotter program for educating employees in the industry that are the first point of contact with visitors (think about a regular training program for employees of Channel Partners--regular because there are always updates)

--On their site's media page, along with links to the usual news releases, they offer links to story ideas, funding partners, endorsements, facts, relevant feeds, regions served, and more.

--Not 1 blog - but a collection of blogs accessible from one location that relate to the various interests of a diverse market (some managed by partners).

--"Translate this page" feature on their site for international visitors.

--A coordinated effort by all related organizations (partners, etc) to engage in the major social media outlets (lots of cross promotion).

--No contact form or info@ e-mail addresses here - a total departure form the norm for this industry. Now, you get every means possible to connect with a live body.

--They take great pains to thoroughly answer the question "why" for their customers. "Why Columbia For (fill in the blank)?" When you can provide the best answers to "why" you've beat your competition.

Just a few simple thoughts to share.
You know, each town has a similar set of assets, like restaurants, hotels, activities, and while they might have a different featured natural resource, a unique history, particular industry, or a theme, they're always pretty much going to have the same "products" to promote. While they can't really change that -- they can change the way they attract the audience they're shooting for.

Certainly, they'd first promote that which is the biggest draw. Then they must give attention to all of the elements that support the reason why a customer will buy. That would be those unchangeable assets we talked about. Competition in tourism is stiff, especially during a down economy, hence their constant need to stay current and ever developing new markets.

That's why this is a great industry to help you figure out how to redefine your market. Step outside of yours and take a good look.