How to Keep Sales Up In A Down Economy
Itís a frightening thing when sales start dropping off and it gets even more serious when businesses react by cutting back on their sales and marketing efforts. Donít fall into that trap.
How can your prospects buy from you if they donít know youíre out there? Donít let this economy overwhelm you. Practice prudent management but market decisively and Act, Donít React.
Hereís What Not To Do
Donít stop promoting and donít start discounting or couponing. Doing so may cause gross sales to initially decrease at a slower rate but your profits will drop. Discounting reduces your selling price in your customerís perception but it doesnít reduce your costsóit just erodes your profit margin. If you are already discounting or couponing develop a program to work your way out of it profitably.
Look at your customer base. What do you know about them? Why do they buy from you? What do they really think about your business? Do the same with your prospects. Next, determine what opportunities exist to increase top-of-mind awareness of your firm, and its products, in your publicís minds? How? Ask them. Conduct some simple straightforward research.
Convert Customers into ďYour Fan ClubĒ
Take a few minutes out of everyday and put yourself in their shoes. Offer service beyond the expected--it will payoff big. Capitalize by delivering unexpected quality.
Benefit from Commitment
Create an environment for your Customers to promote you. If you donít have a website...get one. But make sure it meets your customerís needs and provides them with feedback directly to you. Include a Blog and if youíve followed the advice this article offers before you know it, your customers will be promoting you.
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