What To Do in a Recession

Companies across the board are scrambling to retain any resemblance of what their enterprise consisted of mere months ago. What your business used to count on for years seems to be as reliable as keeping a full scoop of dry sand in your hand. Those norms once so common have melted away to the point where you are questioning even the very foundations of your business model.

Instead of scrapping the many years of the expense of capturing the market share you had; instead of totally abandoning your focus on your niche that you have been servicing so well, you need to find the way you can salvage all that hard work! Especially for those business owners large and small who have survived the start-up failure time frames of three years.

Keep in mind that those customers you have worked so hard to attain haven’t gone away; they are just spending less in this economy. They are still your champions, they still find value in what you offer them; they just have slowed the frequency in which they buy from you. Important all the more if the niche you service has quick turnarounds in the replenishing need of the product or service.

So, those of us in that boat, what are we to do to even simply maintain the levels that we are currently experiencing? If they are just not enough to sustain our operations for much longer, how do you get it to start sprouting and growing once again?

The answer, however complex on the outside it may seem, on the inside it is the easiest to address. Just ask yourself, with limited funds for the many needs you have, which establishment would you spend your money at? One that has what you need, or a business that has what we need AND we feel welcomed and appreciated? If everything were even-stevens in quality and price, to which one would you go?

It is those businesses, which survive and thrive in times like these, are the ones who stand out, keep their products and services ever in front of the clientele. In all, who are best apt to keep Top-of-the-Mind Awareness in the minds of their customers. It is how you do that vital task that will determine if you survive or fail in this economic climate.

The following are only a few ways you can do just that:

• Communicate how you value them by offering them real value – This value cannot be ‘chincy’ either. The perceived value is what will represent in their minds how you prize their business. If you give real value that will be reflected in your response to your offer.

• Go the extra mile, just because! – How does it feel when someone else goes the extra mile for you? Do it, because they are who they are, your bread and butter! When they feel truly valued they will get away from the price factor and get deeply into the loyalty factor.

• When they are in the office/store give them a compelling reason to come back. – Now it isn’t all about pumpkin cookies and cider, this is giving to your customers’ logical side the mental ammunition when the next decision comes down to using their already stretched dollars with you or your competitors. Make pointing out what they receive by doing business with you, simple, and compelling. Even if it’s the message only that you value them higher than others with which they can do business.

• Establish methods for feedback. – You always feel more connected when those you do business with asks for your opinion, your customers are the same. This is a great way to gauge your efforts to reach out, and the honest feeling of those who do business with you.

All of this is designed to do three main things. To keep you in the front of the mind when the money spending decision occurs; to deepen the ties that bind us, from proprietor to customer increasing the loyalty to what your business represent; creating additional touch points for you to reach out to those who you depend on for your company.

By successfully accomplishing this with a Customer Appreciation Campaign, you will be able to realize the stabilization of your income and the increase of your bottom line from the lean months you’ve experienced recently.

Find out more about a customized Customer Appreciation Campaign by clicking here!

Hark The Heralding

Thank you again for the welcome we have gotten, we are working on getting back all the dishes to you as soon as we can… some of you didn’t put your names on the plates, so it may take a lil bit longer to get them back to you.

While you’re waiting, here are a few more articles that you can use for your businesses.

Millennial Steps – Continuing with the Business Paradise entry, here you will find what the Components of a Super Brand are.

Starting Point – This is Hour Two at the Conference Table getting to the bottom of what you are going to need to get the largest target market in history to do business with you.

Now we have had a great Christmas Season we will get back to getting more out of the brain of AverageJoe and the successful strategies that make up modern Marketing.

Messaging a Must More Than Ever

Target Marketing Effectiveness

The economic outlook that is coming out on a daily basis is bleak. You keep hearing that Black Friday for retailers, while initial numbers looked up, actually were down from last year’s numbers. You are hearing major retail chains, Mervyn’s, KB Toys, Linens and Things going out of business completely, with others scaling back. Big ticket, small ticket items alike, are not selling as well or in such abundance as years previous.

Get Your Messaging Right

There is a lot of fear with the consumer, and a lot of trepidation with business owners across all industries that the fear could paralyze commerce in such a way as to completely cripple your company. However the news is currently, there is a way to be able to ensure your business’ viability in the marketplace.

Keep Marketing Your Business!

Simple I know, but it has been proven time and time again that those who are constant with their marketing, their advertising and messaging are able to capture greater market shares than to contract into a cocoon and wait out the financial storm. (Proctor and Gamble, Chevy, Zenith in the 1930′s)

Of the utmost importance now is the effectiveness of those dollars you are spending, and how well your messaging hits your target market segments. Although the solution is simple, it will take more brain power, with the proper metrics and measures in place so that you can substantiate what you are putting out in the public forum.

Proper Marketing Analysis of your current or potential customers: their traits; the trends they follow; the value systems they generally have; their motivations to buy AND be loyal to your product or service. It is crucial you hit all these tangents on the proverbial ‘head’ to get that harder earned dimes and nickels of those who are keeping your doors open.

Branding properly to the clientele, you can draw from that Branding Equity and solidify them better in the usage of what you are offering.  Find out more in the sections Metrics & Media , and Next Level for more details on how do to be most effective in the turmoil of today’s economic times.