Stop Advertising in this Economy and your business will dry up
Recession does not discriminate. Whether you're a small business owner or the CEO of a Fortune-500 company, there's no escaping the effects of a recession. Cost cutting is rampant. People prepare food at home instead of dining out. Companies begin scaling back resources and laying off employees. How can a small business owner survive a difficult recession? What can be done to capture market share and keep a business growing during tough economic times?
First of all, you must keenly understand the mind of the consumer. Customers still have to buy things in a recession. But, they tend to more carefully consider their purchases rather than buying on a whim. They take time to research the best possible deals. So what can you do to keep your customers?
Here are a few small business ideas which can help you to actually grow in recession:
Advertising: one of the major mistakes that happen during recession is that small business owners cut down or completely eliminate advertising. Doing this can make big difference since stopping advertising can make you lose a huge chunk of the market share
Create loyal customers: This is always important, but even more so during a recession. Make sure you're tuned-in to your customers' needs so that you can target your services to provide what they want. When customers feel well taken care of, they'll keep on coming back.
Get customer feedback: Use surveys and feedback forms to get information straight from the horse's mouth. This will provide valuable information so that you can target your products and services to match your customers' needs.
Have a good business plan: Planning is one of the most important ways to manage resources in a recession. You'll need to run a well-oiled machine in order to keep costs low and increase your business during a recession. You can't do this without a clear business plan.
Locality specialist: With gas prices on the rise, many customers are shopping closer to home instead of venturing out to large shopping centers. Use advertising flyers and other tools to let customers know you're out there.
Discount offers: In a recession, customers seek out and expect discounts and special offers. Discounting your services in whatever way you can will help make you more competitive in a tight market. Make sure to advertise these discounts in targeted neighborhoods.
Offer home delivery and dial up services: Customers these days don't want to spend free time shopping for every day necessities. Offering convenience to your customers in the form of home delivery and dial up services will entice more customers to your business.
Offer excellent promotional deals: Even though people tighten their belts in a recession, everybody treats themselves to a splurge every once in a while. By using tantalizing promotional offers and deals, you'll attract new customers.
By using these ideas to improve your small business, you can stay active in a tough market. You can even go global by creating a small business website to attract customers from far and wide. Take advantage of these small business tips and you'll see your business overcome recession and continue to grow!
First of all, you must keenly understand the mind of the consumer. Customers still have to buy things in a recession. But, they tend to more carefully consider their purchases rather than buying on a whim. They take time to research the best possible deals. So what can you do to keep your customers?
Here are a few small business ideas which can help you to actually grow in recession:
Advertising: one of the major mistakes that happen during recession is that small business owners cut down or completely eliminate advertising. Doing this can make big difference since stopping advertising can make you lose a huge chunk of the market share
Create loyal customers: This is always important, but even more so during a recession. Make sure you're tuned-in to your customers' needs so that you can target your services to provide what they want. When customers feel well taken care of, they'll keep on coming back.
Get customer feedback: Use surveys and feedback forms to get information straight from the horse's mouth. This will provide valuable information so that you can target your products and services to match your customers' needs.
Have a good business plan: Planning is one of the most important ways to manage resources in a recession. You'll need to run a well-oiled machine in order to keep costs low and increase your business during a recession. You can't do this without a clear business plan.
Locality specialist: With gas prices on the rise, many customers are shopping closer to home instead of venturing out to large shopping centers. Use advertising flyers and other tools to let customers know you're out there.
Discount offers: In a recession, customers seek out and expect discounts and special offers. Discounting your services in whatever way you can will help make you more competitive in a tight market. Make sure to advertise these discounts in targeted neighborhoods.
Offer home delivery and dial up services: Customers these days don't want to spend free time shopping for every day necessities. Offering convenience to your customers in the form of home delivery and dial up services will entice more customers to your business.
Offer excellent promotional deals: Even though people tighten their belts in a recession, everybody treats themselves to a splurge every once in a while. By using tantalizing promotional offers and deals, you'll attract new customers.
By using these ideas to improve your small business, you can stay active in a tough market. You can even go global by creating a small business website to attract customers from far and wide. Take advantage of these small business tips and you'll see your business overcome recession and continue to grow!
About the Author:
Clint Steiner has built the most complete Small Business Resources to grow your business in this economy downturn. Included in the membership site are Small Business Marketing, Tools, and Software
