Sep 24 2008
If the credit crunch is starting to bite, then chew on this….
Are you starting to feel the effects of the credit crunch? For your business, will it be a storm in a teacup, or the end of the civilized world as we know it? Whatever your opinion, take a look at few simple suggestions on how to market your business more effectively to minimise any crunching headaches you might have:
1. Customers - following on from last week’s post, make the most of your customer base by reactivating lapsed customers and increasing sales from existing ones. Get in touch again to tell them what you have been doing and give them reasons to buy from you again. Make sure your database is cleaned before embarking on any communications campaign and expand contact details regularly. An email newsletter is not only cost-effective, you can tailor your message to different market sectors and measure responses.
2. Shake some hands - whilst you may have avoided joining any kind of association like the plague, now could be a good time to overcome your shyness/disdain and bite the bullet. Many industry associations are now professionally-run, high profile organisations, which offer excellent networking opportunities and insights into your industry.
3. Get above the parapet - It’s time to get out there and spread the word. A well-run, targetted workshop can be a highly effective way to meet potential customers and generate new business, or indeed rekindle any lapsed relationships. Whilst time-consuming, if you have something interesting to say, the rewards can be high. If you’re unable to schedule a face-to-face event, how about running a series of webinars? For the technophobe, more and more people are happy to participate in an online forum. More cost-effective than holding a workshop, more flexible in terms of geography, you still get to communicate with your customers and build relationships, which should generate future business.
4. Its ‘Terrier time’ - once you get a lead, hold on to it, follow it through and don’t let go. You’ve worked hard to generate a new lead, make sure you don’t lose it somewhere in “the system.” Make sure you continue to communicate effectively with your new leads, convincing them at every point of contact that you are the right person to do business with.
5. Get together - if you are struggling to think of how best to drive your business forward, perhaps there might be another company who could complement your existing products or services? Forming an alliance with another company might just open up new avenues for both of you. A little lateral thinking could save the day!
