9 Business Development Strategies To Grow Your Business In A Challenging Economy
9 Business Development Strategies To Grow Your Business In A Challenging Economy
At most of the audiences I address these days, I’m often asked, “What is the one thing you would do to grow your business – assuming you could only pick one sales or marketing practice.” My response always is, “if only it were that easy.”
Unfortunately, there is no one magic bullet in terms of how to succeed in business. Instead, it is a matter of employing many sales and marketing tactics in a visible, consistent and repetitious way that attracts more business to your business. This is especially true when times are tough.
Here are nine strategies that will help you survive and thrive in a down economy.
1. Identify your ideal target market. Who specifically, do you want to have as a client? Not everyone will be a perfect match and if the world is viewed as your oyster, you may never be able to afford to reach the universe, as opposed to a specific niche group.
2. Attend and get involved at the events and meetings that your prospects and clients attend.
3. Establish yourself as an expert and valued resource at these meetings by speaking at them and writing for their trade publications.
4. Promote your expertise via publicity by getting published.
5. Leverage past and current successes by re-printing articles written by you or about you, distributing announcements.
6. Cultivate a great database of prospects, vendors, past customers, media contacts, etc. Remember, you are only as good as your list.
7. Create an impressive web presence. It’s the minimum required to have a local, national or global presence.
8. Distinguish yourself from the competition. Extend exceptional customer service, celebrate unusual holidays and events, under promise and over deliver and communicate with your target market on a consistent basis. Don’t forget to know the competition and be able to articulate how you are different. Thank everyone who refers business to you and never forget to thank your clients. I continue to be amazed at the good will generated by a thoughtful, kind gesture.
9. Commit to a plan. Make a date with yourself every October to revisit the marketing and sales items you implemented in the past that were successful and plot those activities on a calendar for the upcoming year. Work backwards to determine what small steps need to be taken on a regular basis to be sure your marketing plan gets done.
Marketing, as I say quite often, is simply put as having VCR – visibility, consistency and repetition in the marketplace. In order to have name recognition among your target market – you need to be visible in a consistent way and repeat that message over time. Because we all learn in different ways, employing a media mix is an ideal way to grow your business.
9 Business Development Strategies To Grow Your Business In A Challenging Economy - To learn more about this author, visit Nancy Michaels's Website.
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Let’s face it, business is not booming these days. We all have to think a little more creatively, reach out more frequently than we might have and continue to persevere when the chips look down.
At most of the audiences I address these days, I’m often asked, “What is the one thing you would do to grow your business – assuming you could only pick one sales or marketing practice.” My response always is, “if only it were that easy.”
Unfortunately, there is no one magic bullet in terms of how to succeed in business. Instead, it is a matter of employing many sales and marketing tactics in a visible, consistent and repetitious way that attracts more business to your business. This is especially true when times are tough.
Here are nine strategies that will help you survive and thrive in a down economy.
1. Identify your ideal target market. Who specifically, do you want to have as a client? Not everyone will be a perfect match and if the world is viewed as your oyster, you may never be able to afford to reach the universe, as opposed to a specific niche group.
2. Attend and get involved at the events and meetings that your prospects and clients attend.
3. Establish yourself as an expert and valued resource at these meetings by speaking at them and writing for their trade publications.
4. Promote your expertise via publicity by getting published.
5. Leverage past and current successes by re-printing articles written by you or about you, distributing announcements.
6. Cultivate a great database of prospects, vendors, past customers, media contacts, etc. Remember, you are only as good as your list.
7. Create an impressive web presence. It’s the minimum required to have a local, national or global presence.
8. Distinguish yourself from the competition. Extend exceptional customer service, celebrate unusual holidays and events, under promise and over deliver and communicate with your target market on a consistent basis. Don’t forget to know the competition and be able to articulate how you are different. Thank everyone who refers business to you and never forget to thank your clients. I continue to be amazed at the good will generated by a thoughtful, kind gesture.
9. Commit to a plan. Make a date with yourself every October to revisit the marketing and sales items you implemented in the past that were successful and plot those activities on a calendar for the upcoming year. Work backwards to determine what small steps need to be taken on a regular basis to be sure your marketing plan gets done.
Marketing, as I say quite often, is simply put as having VCR – visibility, consistency and repetition in the marketplace. In order to have name recognition among your target market – you need to be visible in a consistent way and repeat that message over time. Because we all learn in different ways, employing a media mix is an ideal way to grow your business.
9 Business Development Strategies To Grow Your Business In A Challenging Economy - To learn more about this author, visit Nancy Michaels's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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