Offer clients products and services that can boost efficiency, cut expenses, deliver value
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The media and naysayers constantly underscore today's tough economic times. As an optimist, however, I always look at the brighter side of issues.
Being in the business of helping clients with their marketing, I am regularly asked, ''How should a business owner approach marketing in this downturn?''
Here are some suggestions:
• Market consistently.
The renowned management guru and author of In Search of Excellence, Tom Peters, says, ''Now is the time to turn up the heat, not down.'' There is a lot of truth to that advice. Depending on your marketing budget, now is not the time to cut back on marketing and sales efforts.
Keeping your name and face in front of clients and prospects in good and bad times will ultimately pay dividends.
Differentiate your business from the competition. Offer solid reasons why yours is the company with which to do business.
• Be results oriented.
When times are tough and your clients are experiencing declining revenues and profits, it is only natural they are being careful with spending. Offer solutions that can be substantiated and add to the bottom line.
How? Offer products and services that help cut costs and increase efficiency, saving time and money. Enhance brand awareness to increase business. Apply the creative juices to come up with various ways to deliver value.
• Keep in touch with existing customers.
''I don't want to hear someone beat us to the marketplace because we didn't get out of the building,'' said Frank Hauk, EMC Corp. executive.
Visit clients regularly. Let them know how much you appreciate their business. Find out ways you could be of more assistance. Add value, whether it is by better service, creative financing, warehousing, improved packaging, etc.
Strengthen and a create a long-term, mutually advantageous business relationship.
• Think positively.
Norman Vincent Peale inspired generations with his Power of Positive Thinking best-seller. This is a powerful motivator — maybe the most important characteristic of all — to meet today's economic challenges.
If you buy into negativity, clients can sense it and delay or eliminate purchases.
Change your mind-set. Instill confidence, not concern. Your demeanor should be uplifting. It is vital to consummating sales in today's market.
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Anup Gupta is affiliated with the Akron chapter of SCORE. If you would like more information on this or other business-related subjects, contact Akron SCORE via the Internet at http://akronscore.org or by calling 330-379-3163. Services are free and confidential. SCORE is a resource partner of the U.S. Small Business Administration.
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