Many businesses flounder when it comes to surviving in difficult financial times. To protect what you’ve built, you must be prepared to adapt. The following ten tips are ways to survive – even thrive – during a downturn…
One
Focus on building customer relationships – the establishment of these relationships can help to maintain positive thoughts about your brand as well as developing loyalty.
Two
Further to that, seek out your best customers and make them feel like royalty.
Three
Know what your specific niche is, don’t try and interact with everyone otherwise you’ll spread yourself too thin… it only takes a small group to do great things.
Four
Be something that they think they can’t live without – your product doesn’t necessarily need to be a ‘need’, but you need to market it like it is.
Five
Whatever you do, don’t stop marketing! Consistently get your name out there, so when the market is thriving you’re the first they think of….
Six
If you haven’t already, get involved with social media – very cheap way to market compared to traditional methods, as well as contributing to those customer relationships. Avenues may include Twitter, blogging, Second Life, Facebook groups/fanpages; it all depends on where your customers are.
Seven
Build relationships with bloggers – these people have the power of word-of-mouth, utilise them. If they love what you’re about, you may be lucky enough to be mentioned in one of their blog posts – and depending on the blogger’s readers and influence, this could reach a LOT of people.
Eight
Cut down some costs in your business – these could be simple things such as emailing invoices instead of mailing them (and better for the environment!)
Nine
Personalise, personalise, personalise. This could be as simple as calling your customer by their first name, or sending a handwritten thank-you card. Constantly be switched on to facts about your clients that they may reveal – their (or their child’s) birthday, anniversary, good news regarding their business, etc. Write it down and use it as a conversation starter next time you see them; hairdresser’s utilise this very well! It will make your client feel like they are important.
Ten
Be remarkable: remarkable product, remarkable service and remarkable staff.
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