Two big news stories came out yesterday. These stories were a perfect opportunity for the media to instill a little confidence in the public if done right. But good news stories don’t sell ratings.
One story told of how retail sales were down to their lowest level in fifteen years during Christmas 2008 compared to December 2007. The truth is most of the decline was caused by skidding car sales (right after the automakers bailout request) and lower gasoline prices (lower world oil prices). Excluding the automotive sector, retail sales were down only 1.8 per cent. But that part was glaringly absent from the news report.
In fact, one retailer interviewed even suggested that in December 2007, it was a stupid buying frenzy. Customers were hungry for anything they could get their hands on and would simply throw money at the retailers. “We couldn’t service our customers this way. It was awful,” he said. That part of the news story was buried.
The second story featured a recent survey by Harris Decima Research which showed consumer confidence in the economy at its best level since August. 27% of consumers felt that they would be better off in a year from now – up from only 20% who felt that way a month earlier. A whopping 41% of consumers felt now is the perfect time to make a major purchase – up from 35% a month earlier. This story wasn’t even featured in the TV news last night. The news outlet chose instead to feature a story about a woman who clips coupons to save money on her groceries – a story they featured as their third story overall. Clipping coupons is a news story? Really?
In fact, even the good news angle of the first story was ignored by the media last night. They chose to focus on the “worst numbers in fifteen years” which is at best a half-truth. The second story about you and me feeling more confidence in our economy was ignored because good news doesn’t sell commercial-time.
Now before you get to thinking that I was watching Fox News, let me set you straight. I watched Canwest Global news.
Canwest Global is in its own predicament right now. If Canwest Global can’t secure a financial lifeline before the end of this month, it will be forced to seek bankruptcy protection. And yet it still chooses to run the “sky is falling” stories which keeps advertisers and investors away. They are forcing their own demise. There’s no news department without money to run it. You’ll never sell advertising time to people while you’re telling them it’s an awful time to be spending money. That is not leadership. That is fear-mongering. And what goes around comes around.
ATTITUDE ADJUSTMENT: If you keep telling your customers how bad it is your customers are going to find another company to buy from. What you need to be doing is talking to your customers and your employees about how good it is. You need to be instilling confidence.
Now is a time for leadership. Leaders don’t scare their people to death and expect them to be able to confidently serve their customers well. Leaders look for opportunities while others cower in their corner offices waiting for the sky to fall.
Make sure you’re instilling confidence in your customers and employees. You have two choices: to instill confidence or to instill fear. What is the good news that your organization should be telling your people and customers right now?
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