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In our last blog post, Vicki pointed out that market share shifts are most prevalent during a down economy. This happens because some companies hold back and slash their budgets. Their brand suffers, and this creates a void with opportunities for competition. Sure this is a time you have to cut costs, but cut the right costs to divert resources to activities that create value. Just to name a couple of high-tech success stories in recent times, Microsoft and Intel both started in downturns. Pre-existing companies that made gains when the economy was down include Google, PayPal, and Salesforce.com.

So how does one take advantage of market opportunities, especially if the budget has been cut? Consider hosting a user conference. Your initial reaction may be to scoff and say that it would be too expensive, too time consuming and not possible. However, if planned properly, it is possible to create a low-cost or cost-neutral conference. Does this sound too good to be true? Well, we are here to tell you that it is not. Success comes from the proper strategy. (more…)