Survival in Tough Times

Many businesses have been through this before. In 1982 we were just starting out and that recession seemed like a monster to us. This one may seem like a monster to you but there is more than hope. There is the opportunity to actually move your business forward. Here is how to do it.

1. Be seen. Choose a strategy that includes more frequent exposure to your solid client base and others who parallel your base. Whether this is direct mail, e-strategy, mass media or whatever has worked in the past. Touch them often.
2. Offer value that transcends price. Wal-mart is doing quite well in these times because their brand strategy is built on lowering prices. It is likely that your prices are low already. Don’t endanger your business by cutting them again. Create an offer that says “value” to your customer. It could include an extra year of warranty. Some things don’t cost you much but are valuable to your customer.
3. Expose your full product/service line. Even repeat customers may not know everything you sell because they have adapted a routine of buying one thing. Let them know your full line.
4. Generate some excitement. In a sea of bad news people hunger for some good news. Even your staff will be energized. Do something that will bring attention to your business. This is not “advertising.” It is PR.
5. Stay the course. If you have been successful in the past it is likely that you are fundamentally sound. Don’t allow knee jerk reactions to creep in. Remember what you are best at. Now is not the time to accept any defeat. There are likely twice as many potential customers out there as you currently have. They need a reason to buy from you. Give it to them.