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The week of May 18, 2009
When Business Slumps, Step Forward
by Richard G. Ensman, Jr.

Dismal economic news sends shivers of fear throughout the business world. When sales and dollars dwindle, many business owners and managers have a tendency to circle the wagon and plot ways to defend declining profits. But the secret of success during challenging times is pushing forward: strengthening markets, creatively retooling sales efforts, and exploring new opportunities using the latest technology.

Want to face challenging times head-on? Here's how:

  • Add fire to your customer service. Begin just one powerful new service practice that leaves your customers in awe. Maybe it's a personal “concierge” service once a week. Or instant delivery on certain products. Or just asking about customers' needs whenever you're in contact.
  • Brag. When something great happens – an award, a compliment, an industry honor – shout it in the media, your windows and display area, and anywhere customers gather.
  • Bounce around. “Bounceback” coupons give customers an incentive to return. Give a bounceback after every order. Better yet, arrange with non-competing sellers to offer reciprocal bouncebacks, and expand your buying audiences.
  • Build star power. Make your customers your “stars.” Let them speak about the value and quality of your products and services through advertising testimonials and online case studies.
  • Dangle a carrot. Offer customers or clients an incentive for referrals, leads or assistance in developing new business.
  • Get a facelift. What can you do to freshen up your look and attract customer attention? A new paint job on your physical location? A powerful new graphic look on your Web site? Appearances can be sales boosters.
  • Get by with a little help from your friends. Ask your friends, employees and colleagues to publicize major sales initiatives. And let them know you're looking for new business.
  • Give away free stuff. Some possibilities: samples, training, educational booklets. In cash-tight times, customers notice and remember this.
  • Give the world a piece of your mind. Let your customers – or the general public – know what you're thinking about. Write an op-ed for the local newspaper. Post a column in your community. Or if you sell to the trade, state your views in your trade periodicals and Web sites.
  • Go digital. Conventional media advertising can be expensive, but digital can be cheap. So ask yourself: Can you generate e-mail ads? Promote yourself on complementary Web sites? Buy search engine spots? If the answer is “yes,” you can probably triple your advertising volume while dramatically lowering expense.
  • Help save or make a buck. If you can show your customers how to make or save money with your product line, do it! You'll stand out in economically challenging times.
  • Let your questions do the talking. Most people like to give advice. Ask customers and prospects what they think at every step of the way.
  • Link up. Ask customers and colleagues to add your Web site name and URL to their personal and professional sites. And ask them to bookmark your site.
  • Look for double duty. Turn your bills, statements, correspondence, stationery, and e-mail messages into sales tools. Insert a line or two of promotion power, or include new product link information.
  • Open the doors. Stage an open house every once in a while, especially when you're introducing a new product or service. Arrange for a guest speaker, demonstration or entertainment that will uniquely captivate your customers.
  • Reward the people who count. Think bonuses, incentives and discounts to anyone who can help you build business: your employees, customers, vendors, even colleagues in other fields.
  • Say thanks. Say “thanks” to your best customers. Your gesture of appreciation will remind them of the importance of your business relationship, and set the stage for greater things to come.
  • Speak out. If you have the chance to talk before a civic or religious club, take it. And every chance you get, talk in public about yourself and what you offer.
  • Stay fresh. In challenging times, your online presence is more important than ever. So invest time keeping your Web content new and exciting. Post information and images your customers really care about, and they'll keep coming back.
  • Yell for help. Want to figure out how to build more business? Ask. Include comment cards with purchases. Moderate a focus group. Or conduct a survey using one of the free survey utilities available on the internet. The information you glean may be priceless.


NOTE: This editorial expresses the opinions of its sole author only and does not necessarily reflect the opinions of Autobodyonline, or any of its subsidiary companies, clients, or supporters.


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