The ‘gloom and doom’ merchants have had a field day over the past month as we head towards the end of the calendar year. You’ve probably heard the saying, ‘when the going gets tough the tough get going’. So, here‘s five tips on how to grow and develop your business in 2009.
- Put your efforts into your existing client: regardless of the economy, your database of clients and prospects is your most valuable asset. In tough times, your competitors will resort to price cutting and if you are not countering this with a quality relationship, you will lose.
- Grab your customer’s attention by being creative and innovative. Clients and prospects won’t put up with being bored; the most important thing you’ve got to do in advertising is be seen and read, by doing things differently, so use all of your team and tap into their creativity.
- Take advantage of your customers’ fears: your competitor’s response to changing economic conditions may create more opportunity for you and your business. You could target different customers or alter your message, but make sure you are marketing to them and converting the sales
- Your advertising must get people’s attention; arouse interest and emotion; tell an interesting story in a believable way; offer an incentive to take action now by adding value to the initial purchase; and ask for action and make it easy for people to do what it is you want them to, such as phone now, or email us now.
- Make appropriate adjustments to services, payment options and product such as arranging better finance options, and focus only on the products and services sold that produce the bulk of turnover, and then do it better.
With thanks to Mal Emery, 'My Business' magazine, December 2008
