How to Market in Tough Times

Posted on Sep 5, 11 in Blog

It’s been a tough few years! Although things may be improving slightly, most of the clients we service are feeling more than a little anxiety about the current state of the economy. Demand seems to be off across all products and service categories.

So, like many decision makers we talk to, you may be asking yourself, “What the heck do we do now?”

Here are some suggestions to help you through this challenging time:

Reach Out and Touch Someone

Now is the time for the senior executives in the organization to be more involved in the customer service process…especially with your best clients. Your involvement will reinforce the client’s importance and help you understand how your product or service can reduce their pain.

In-person service or goodwill phone calls will help you stay connected.

Are You Still Relevant?

With the pie shrinking, there is greater competition for each sales dollar. Likewise, in an economic slowdown, your competitors are suffering too. Some may even be closing their doors! You want to be the first company that customers think of when they are ready to make a change.

You want to be sure that your company value proposition is still relevant and can stand up in today’s competitive environment. Make sure that your entire team is current on your major competitive advantages (price, quality, service, fees, etc.).

To Know Me is to Love Me

Business is Personal. Are you aware of your clients’ attributes? Does your database contain relevant and actionable data? Do you know your customer’s birthdays, anniversaries, and other important considerations? Are you using this information to further your relationships effectively?

More than ever, now is the time to strengthen your relationships. The more you understand your clients, the deeper the relationship can develop. All things being equal, people like to do business with people they like.

Turn Your Entire Company into a Sales Organization

Is everybody in your organization focused on helping the company succeed? Do you have a formal employee business referral program in place? In tough times the more people promoting the benefits of your company the better. Make sure everyone knows enough to gain a referral for new business. Make sure the referrals are rewarded through a formal program (time off, cash payments, commission on the first sale, etc.).

We all know that these tough times won’t last. But they do have a way of separating the herd. Research has shown that if you want to prosper as the economy comes out of a recession, you have to maintain an even greater commitment to marketing, communication, and service during the recession.

Now’s the time to step up your game!

If you have any questions, please feel free to email me at .