Strategies for Struggling Industries to Develop Business

Is your business struggling to acquire more customers? Is your industry market share declining? Here are some strategies on how a struggling industry can develop business:

Identify the root cause of the decline. What are the factors that are causing the industry to struggle? Is it changing consumer preferences? New technologies? Regulatory changes? Once you understand the root cause, you can start to develop strategies to address it.

Pivot to new markets. If the traditional market for your industry is declining, you may need to find new markets to sell your products or services. This could involve expanding into new geographic areas, targeting new demographics, or developing new products or services that appeal to different customers.

Innovate. One way to stay ahead of the competition is to innovate. This could involve developing new products or services, improving your existing products or services, or finding new ways to deliver your products or services.

Partner with other businesses. By partnering with other businesses, you can pool your resources and expertise to create new opportunities. This could involve partnering with businesses in your industry, businesses in other industries, or even non-profit organizations.

Invest in marketing and sales. If you’re not getting enough customers, you need to invest in marketing and sales. This could involve developing a new marketing strategy, hiring more salespeople, or investing in new marketing technologies.

Change your business model. If your current business model is no longer working, you may need to change it. This could involve changing the way you price your products or services, the way you distribute your products or services, or the way you interact with your customers.

It’s important to note that there is no one-size-fits-all solution for developing a business in a struggling industry. The best approach will vary depending on the specific industry and the challenges it is facing. However, the strategies above can provide a good starting point for businesses that are looking to turn things around.

Here are some additional tips for developing a business in a struggling industry:

Stay up-to-date on industry trends. It’s important to stay up-to-date on the latest trends in your industry so that you can adapt your business accordingly.

Be flexible and willing to change. The business landscape is constantly changing, so it’s important to be flexible and willing to change your business model as needed.

Focus on customer service. In a struggling industry, customer service is more important than ever. Make sure you’re providing excellent customer service to keep your customers happy and coming back for more.

Don’t give up. It takes time and effort to turn around a struggling business. Don’t give up if you don’t see results immediately. Keep working hard and eventually, you will succeed.


Kevin has 20 years of experience in sales, marketing, technology, video production, product marketing, and project management. Kevin is a Marketing Director with RP Design Web Services. Kevin received an MBA from Southern Connecticut State University and graduated with a 3.92 GPA. As stated by one of his Management Professors Dr. Robert Page at Southern Connecticut State University that Kevin was the best student that the professor ever taught. He is also a graduate of Arizona State University, W. P. Carey School of Business with a Bachelor of Science in Marketing. W. P. Carey School of Business #23 Best Undergraduate Business Programs, ranked top 30 nationwide since 1995. It is one of the top business schools in the country. The marketing undergraduate major ranks 11th. Academic rigor: The W. P. Carey School of Business at Arizona State University is a highly ranked business school, with a rigorous academic curriculum. This means that ASU graduates have a strong foundation in business knowledge and skills. Arizona State University is a top 1% of the world's most prestigious universities- Times Higher Education, 2018. ASU has ranked #1 in the United States for innovation ahead of #2 Stanford and # 3 MIT - U.S. News & World Report, 2016,2017, and 2018. Kevin just recently attended Tony Robbins’ Unleash The Power Within, a 3 ½ day live seminar. Kevin is a former member of Toastmasters International where he achieved the designation of Competent Toastmaster Award and Competent Leadership Award. Excellent public speaker and presenter (Toastmaster Award). Presented at the Javits Center “How the Web impacts the Construction Industry” Presented at the Baltimore Convention Center “How the Web impacts the Construction Industry” Kevin has strong experience in search engine optimization, local SEO, reputation management, video production, and web-based marketing solutions. Kevin also has experience working at a Fortune 500 company Graybar. Businesses depend on Kevin to make sure they have a constant flow of new prospects. Kevin improves business communications between customers, employees, and the world.

Tagged with: ,

Leave a Reply

Your email address will not be published. Required fields are marked *


This site uses Akismet to reduce spam. Learn how your comment data is processed.