Six Proven Strategies to Beat the Recession
ADVICE FROM ANGELA KAMBARIAN
Dear Savvy Business Owner,
Are you struggling to keep your business
strong in tough economic times? And are you
overwhelmed by the economic storm engulfing the
marketplace? You are not alone.
But there is no need to curl up into a ball and
accept the worst. Let me assure you that even in this
situation a lot of business owners manage to maintain
and even increase sales, while their competitors struggle
to keep their heads above the water.
Please find the time to read my Monthly Tipsheet below,
revealing a few powerful strategies to beat the recession.
Feel free to share it with any of your partners, colleagues
or friends, who you think might benefit from this information.
If you DO NOT wish to receive my monthly correspondence,
just let me know. And your name will be immediately
removed from my database.
*********************************************
Six Proven Strategies to Beat the Recession
What effects economic slowdown is the way business owners
and entrepreneurs react to it. When they start to panic, they
make a bad situation worse and perpetuate the problem.
As the old saying goes, when the going gets tough, the tough get
going. Those who remain proactive, set themselves apart from
the pack and come through with strong businesses
and healthy bottom lines.
So, here is my advice. Don't sit around "wallowing in grief" and
worrying about things you have no control over. Pull yourself
together, launch a new offensive and come out of this situation
as a winner. You can do it.
1. Look for new ways to increase sales.
Can your product or service help another business generate more
revenue? Reach out to your prospects and play up that aspect
of your business. I am sure they will be willing to hear
what you have to say. You may have to repackage your
services to accommodate smaller clients and reduced budgets.
Some businesses slightly downgrade their acceptable
customer profile. During a dowturn, you have to be
flexible in that area.
2. Maintain your marketing during tough economic times.
The fatal mistake most businesses make in a recession is
cutting down on their marketing efforts. Evidence suggests
that marketers who increase their spending during a recession,
experience long-term gains in market share and profitability.
In fact, to avoid a slowdown, you should market consistently and
aggressively all year long, not just when you need the business.
3. Do not ignore your existing customers.
Pay special attention to them. They already
know you and trust you. Therefore, they are not
taking a risk in retaining your services. Try to reactivate
dormant accounts. Call your past clients, say hello and
find out what is going on. Let them know that you are
interested in working with them.
4. Try something new.
Can you think of any marketing strategies you thought you
should try, but never did? Are there any alternative revenue
streams you would like to put into practice? A smart way to
generate some extra profitable business is to encourage
clients to add on to or expand existing assignments or purchases.
5. Do whatever it takes to retain a client.
During a recession, client retention is crucial. Doing a good
job is no longer enough. Go an extra mile, throw in a few extras to
exceed your client's expectations. And always keep in touch.
6. Network like crazy!
Networking remains one of the most effective and
powerful strategies. When you meet people, always
mention your business and the products or services you have
to offer. It's not the time to be too aggressive or pushy.
But don't miss out on opportunities to promote yourself.
I hope you will find this information helpful and inspirational.
Let me know if you have any questions or comments.
Good luck with your endeavors!
Article Archives [2008-11-09]
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