In these economic times it is more important than ever for businesses to focus on customers they understand, and customers who can understand them. What does this mean? Keep it local! Generally, other enterprises in our own locales not only face a similar business climate, but are also used to doing business the same way. They play by the same rules, if you will. This basic understanding can provide a foundation for a great relationship.
Additionally, one should also apply karma to the mix. For example, it would be hypocritical and even detrimental to seek local relationships without reciprocating. In these trying times a business should also seek to strengthen the local economy, and thus its own customer base, by procuring products and services from local vendors, even if it means spending a dollar or two extra.
Until last year,
Wasatch Software had been primarily focused on building its national customer base. In 2008, we began emphasizing the growth of our local customer base. This has been a key factor in surpassing our revenues each month so far this year, as compared to the same month in all previous years. In turn, we have happily focused on procuring product from local vendors whenever possible.
Turning to Utah specifically, why is there a benefit to focus on our local market?
1- Utah tends to have a much more isolated economy than many other states in our union. Much of this is due to social, political, and policy issues.
2- Utah is known for its resiliency. This is highlighted by a few recent articles:
a. “
Utah may see relatively fast economic recovery” by Brice Wallace (deseretnews.com)
b. “
Utah Ranked #1 for Expected Economic Recovery” News Wire (utahbusiness.com)
That being said, let’s all do our part to strengthen our state by ‘keeping it local’!
Labels: business, tips, utah