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MUSINGS...
Marketing in Tough Times
Are you sitting in your store or
office wondering where all the customers/clients went? In normal times we typically lose about
10% of our customers in any given year to competition, their changing needs, or
other mysterious reasons; but these are not "normal" times.
Our lack of customers is just a
snapshot of the greater economy.
When the economy is struggling you can also expect to be
struggling. That is "normal."
During tough times it is imperative
that you reach out more, do more to attract business. This also may mean spending money that is scarce. However, DO NOT consider anything that
you have to spend on advertising or marketing as an expense. It may affect your cash flow, but it is
not an expense, it is an investment in your future success. Without ongoing
marketing efforts you can be sure that the 10% client loss will increase
substantially.
When
available cash for marketing or advertising becomes a challenge it is time to
get creative. There are a number
of avenues you can take to get your name out there that are free. They make an investment of time, but
you have that if your traffic is down.
Take a look at social media, using your computer to reach
out, newsletters to keep in touch, surveys to be sure you are offering what
your customers want, blogging or article marketing, networking or press
releases.
If
you need some ideas that match your goals contact me. We never charge for the first hour of
consultation and that may be all you need to get headed in the right direction.
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