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No business owner would want to go through a transition of a crisis in business, even to unimaginable lengths that would cost the much needed revenue to go down the drain. While in the moment, it maylook like this is the doom of your business, but in its entirety, this is not true. Depending on howtransition is handled, it determines the future of your business.
To set an example, something actually happened to a popular medicine company that is still thriving tothis very day. The company is Tylenol.
Back then, there was no sealing process that was placed in medicine bottles. The company, Tylenol,used capsules for its pill type. Until someone had decided to unscrew some of the bottles that werealready on store shleves and the person laced them with cyanide that resulted in seven deaths.
In response, Tylenol placed customer safety first and they quickly pulled out 31 million bottles of Tylenol– a staggering $100 million worth – off of the store shelves and halted all the production and advertisingof the product. Over time, Tylenol reintroduced its pill bottles with a tamper-resistant packaging.
Tylenol then was pushed into a transition due to a crisis. The way they responded to the ‘businessemergency’ saved the company and established then back as trustworthy and transparent to thegeneral masses. Tyelonol did that it takes to take care of their consumers and thought very little ofthemselves during the process.
Learning from this unfortunate situation, businesses, be it big or small, when it goes into a state oftransition has a major impact on its marketing. Along with being transparent, honest and upfront withthe situation, this would be a perfect time to make your own brand messaging clearer and stronger.Having a strong message like what Tylenol did will help allow for your company to survive and continue to have customers like and trust your brand.
Transition can be a difficult time for any company or businesses, no matter the extremity of it. Prepared for an event, and having a strong sense of your message and what your company brings to the marketplace will be the determining factor of how the situation ends.
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