Share this page on:
FacebookTwitterLinkedInGoogle BookmarksMyspaceTumblrRedditGoogle ReaderDiggDeliciousBlinkListStumbleUpon

Keep the recession away

The news these days are all about downsizing and recession.

I don't know what you think about the recession, but I, for one, will not just let it kill my business. If you are like me, here are some quick tips that will make you less influenced by all the doomsday prophecies.

8 concrete things to do to keep the recession away:

1. Roll out the red carpet for customers
I don't think customers should be treated better just because times get tougher – they should be treated with a red carpet anyway, but you can certainly sharpen your ability to take care of them even better when times are tough. When did you last tell your customers that you are glad they chose you?

2. Be more aggressive in your marketing
It may sound odd, but it’s quite logical. If your competitors shut down or cut back on their marketing, it's perfect for you to increase your efforts.

3. Offer customers special discounts
Your customers who may be affected by the recession will appreciate your willingness to help them move forward.

4. Go into the idea mode
Anyone who comes up with ideas that will allow you to sell more should be rewarded. Start a contest among staff, suppliers - everyone who knows your business. Ask customers what they lack in your service or range of products.

5. Get better at something
A temporary decline is the perfect opportunity for you to learn the things that you think customers want, that they said they miss in your business.

6. Follow up on old contacts
Browse the business card folder, e-mails and your calendar for sales/meeting that never materialized that perhaps you can do something about now. A good thing to do is to contact everyone who requested quotes from you in the past and ask them if they're still in need of your products/services.

7. Create a better service
When competitors try to compete with each other over the cheapest price, it makes sense not to challenge them, but rather increase the service level with eg. free installation, two hours of free introductory work or whatever you else that might fit for your industry.

8. Inform and inspire
Make sure everyone in your company is aware of the situation, but don't talk about it as if you're going out of business or that you're stuck in a hopeless situation. Let people know that hard times is a challenging opportunity to show the world what they can do. It's all too common with business owners who deliver ”the hard truth” rather than coming up with the desire and willingness to fight for something.

This is what you can do to fight off the recession – so do it now!

About the author

Stefan Ekberg has worked in marketing for small business for 20 years and has written around 30 books on how small business owners can market themselves with limited resources. . In 2012 Stefan was nominated as Entrepreneur of the Year in Stockholm.

230 000 prescribes to his free newsletter "The 5 minute marketer"
Every week some 230,000 prescribers gets his free newsletter about 5 minute marketing.

"The 5 minute marketer" - the book
You run a small business and you want to get ahead of the competition, but how can you give resources to marketing when you're short on time and the budget is tight? The solution is here! The 5-Minute Marketer is packed with 395 tried-and-tested ways to market your business in 5 minutes or less.