Building market share through an economic downtown is a pretty smart thing to do. Of course, everyone knows that discretionary marketing and advertising spending is the first thing to get cut when the economic grim reaper comes knocking. But, if you manage to cheat death for a little while and build some market share in the downturn, you are going to be in a great position vs. competition once the economy picks up. Market share is a surrogate for competitive strength, so the more you can build share…the better off you are. Conversely, if you find yourself losing share, then that can be a harbinger of serious problems that may require strategic fixes.

An “all too often” problem:
All too often, businesses don’t have a good read on their market share. When times are good, they cannot tell if they are merely growing with the market or if they are building share ahead of their competitors. But, when times are good, the lack of data is normally OK, because everyone is growing together and all is well. But, when times are bad…that’s when it can get scary. “Flying blind” in a down market is really bad, because you miss key indicators that can help you make the hard calls necessary for business survival.

Naturally, as I was thinking about how basic and timeless the concept and idea of building market share in a downturn is, the word share floated through my head a few times share…the word share then morphed into CHER and I started hearing the lyrics to “if I could turn back time“. Yes, I admit it, I started thinking about CHER.

Photo: Cher Guevara by Icuy2

A Classic
CHER is a seemingly timeless icon (how old is she now?) who continually delivers hits across the decades (60s, 70s, 80s, 90s, 00s). Classics like CHER are great for business, because you can rely on them year in and year out. Classics have a weird kind of perpetual staying power. Sure, they need to be upgraded, tweaked and made relevant, but in the end they remain with us for a long time, often growing through the rough economic patches as people gravitate toward what they know and trust. And CHER (the classic) is not sitting on her hands through the downturn, no, no, no…CHER is working hard. In fact, she is going to be in Vegas in early 2009, so you can probably catch her several times throughout the week if you manage to drop into V-town in the next few months.

CHER does indeed Share
CHER also does her bit to share. I noticed via the Look to the Stars website that CHER has been active throughout her career in supporting the Afghanistan Relief Organization and American Foundation for AIDS Research

And will all this talk of CHER will tempt me to download 1 or 2 songs for the fun of it over the weekend? Stay tuned…