Below is a data visualization that shows how the Canadian business landscape changed between 1991 and 2003. When StatsCan has newer data I’ll update this map. Even thought the data is 6 years old you have a snapshot of what the industry landscape looked like in 1991 and 2003. Data like this can help marketers understand the macro trends taking place in their industry and their customers.
Some interesting data points:
- The fasted growing sector was Professional, Scientific and Technical services. You can see what industries are in this sector here.
- The number of businesses in Canada increased by 112,000 from 907,000 in 1991 to 1,018,000 in 2003.
- 85% of the new businesses created between 1991 and 2003 were service oriented businesses. This confirms that Canada HAS evolved into a services oriented economy.
So what does this mean for companies in the B2B space?
- You have more competition – focus on keeping your customers, providing REAL value and offer additional services.
- You have to be GREAT – how competent are you at solving business problems with your services? What proof do you have? How much street cred do you have as a “thought leader”. What is your reputation in the industry? Marketing fluff doesn’t work. You need to be real and authentic in what you communicate and say about your company. The bull crap meter is on high alert and marketing cannot be a scapegoat for misinformation and hollow claims. Also, your sales reps can’t “make things up”.
- You must engage with customers – You need them to give you ideas, feedback and act as references and provide referrals. In exchange share your knowledge with them and always ask how you can provide more value.
- Commit to constant improvement and innovation – establish a culture where the people within your company, your partners and customers collaborate, share AND implement new ideas focusing on improvement and innovation. Think beyond your own walls. Improve and innovate for you, your partners and customers.
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