Remember the bumper stickers back in the nineties that said “Kill Your Television”?
Well, based on all the over simplified economic news coming from the major networks, the financial networks and radio too-it’s something to consider again. No doubt, when the challenges of the current economy are studied in history, a major factor driving the psychology of the event will be the media.
There’s one problem with “mass media”, sweeping generalizations. The broad brush-the it’s everywhere approach-lacks specifics for each of our own backyards.
The result is that a lot of business owners experiencing a slowdown just say it’s the economy. Newsflash, there are companies that make millions of dollars in bad times. So, it can be done. Here’s how:
1. Focus on Your World
The news is a sweeping generalization and has no problem letting us think this is the way of the world. Take a hard look at the reality of your situation:
- Are you still in business?
- Are you in foreclosure or in danger of getting there?
- Do you work in a failed bank or investment firm?
- Is your industry of field lined up for a bailout?
If not, pay attention to what’s affecting you–not what the media says is affecting us. Do you work. Reposition your produces and services to meet your customers changing needs. Don’t sit on your hands and blame the economy.
2. Protect Existing Customers/Clients
When was the last time you communicated with them without trying to sell them something? Bad idea if it’s been longer than a few weeks. Get a newsletter or ezine going now and a minimum of monthly. Figure our ways you can start right now to show them how you appreciate them. Show them you solve their problems and don’t be a source of their worries or fears. Even better, start making them some great offers the boosts value so they continue to spend money with your business.
3. Install or Crank Up Referral Programs
New marketing is expensive and referrals are far easier and cheaper to get. Your customers are like seeds in an apple. You can focus on how many seeds are in the apple. Getting referrals is focusing on how many apples are in a seed. If your clients like you, then you’re good for the people they like. Make that point clear and get referrals–now!
4. Know Who Buys What
Not all of your customers or clients buy everything you have to offer. Start breaking down your list to who buys what. Now you can sell what they want easier, identify and right buyer for new business. Then create campaigns to cross sell to your client base. No time? List companies can do it for you. Does it work? Well, there has to be a reason Head & Shoulders has 9 different shampoos.
5. Fix Your Customer Service
When business was for the taking, customer service wasn’t very important. Now, a lax customer service is the room where your competitors will drive a …