Peter Drucker on Radio
John Moore over at Brand Autopsy reminds us of what advice the radio industry would likely receive from Peter Drucker in this post.
A Business that Fails to Lead Will Become Marginalized Genuine market leaders, according to Drucker, must achieve their leadership results in an area that is meaningful to a customer or market. Such as, leadership in product development, leadership in customer service, leadership in distribution, or leadership in bringing ideas to market faster. Achieving a leadership position is imperative for a business to stave off becoming marginalized or commoditized. Drucker argues a business “… may seem to be a leader, may supply a large share of the market, may have the full weight of momentum, history, and tradition behind it. But the marginal is incapable of survival in the long run, let alone of producing profits. It lives on borrowed time. It exists on sufferance and through the inertia of others. Sooner or later, whenever boom conditions abate, it will be squeezed out.” The warning signs of becoming marginalized are clear: When a business becomes an afterthought, not a forethought … it becomes marginalized. When a business is viewed as dispensable, not indispensable … it becomes marginalized. When a business loses its uniqueness … it becomes marginalized. When a business no longer matters … it becomes marginalized. When you, as a customer, would not miss the brand if it went out-of-business … it becomes marginalized.
Thanks for channeling some great thinking, John!
So, my fellow broadcasters, is your station destination-worthy, indispensable, unique, important, and impossible to live without?