How Important Is Your Local Market, Anyway?

Sometimes, a company focused on global or national growth can easily overlook the local market. Companies should be sure to form and maintain strong relationships with their local communities, knowing that a strong community can support a stronger business. Companies can start by keeping employee recruitment efforts local, and can continue by partnering with local community organizations and government, not only to maintain relationships but to keep abreast of local trends from which the company can benefit.

Key Takeaways:

  • The desire for globalization and to impact outside markets leads to less attention in the home market.
  • Paying attention to the home market may be more beneficial than focusing all your efforts in other marketplaces.
  • Local talent can be easier to cultivate than hiring outsiders.

“Potential customers who are able to score direct line access to CEOs aren’t likely to forget the interaction and will be more likely to sign up for products and services as a result of a personal encounter.”

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