Top 7 Recession-Proof Techniques For Your Business
By Steve Macdonald
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- COMMUNICATE REGULARLY with your existing customers.
You are wanting to create a successful relationship with your customer, and this can be achieved through regular informative communication.
- USE QUALIFICATION WHEN COMMUNICATING YOUR MESSAGE.
Send an offer only to the customer who would make use of that offer. What would be the point in sending details of the latest sports car to a conservative family man who has only ever purchased a family sedan? Whatever it is that you sell, record what is bought and by whom. Create a database that will enable you to keep track of what your customers want and need.
- USE EFFECTIVE MARKETING.
There are many forms of marketing and the majority of businesses only use a handful. They rely on advertising, direct sales, perhaps even telemarketing, but the key is that whatever form you use you must ensure that it is actively bringing in sales; it has a tangible effect on your bottom line.
- ARRANGE MUTUALLY BENEFICIAL HOST/RECIPIENT RELATIONSHIPS.
One of the quickest ways to increase your customer base is to access a non-competing business' customers with their endorsement. Having that company's endorsement will greatly increase your chances of converting that customer to buying from you rather than a direct competitor.
These are a tremendous source of additional sales. Writing to all your existing clients offering them an incentive or special discount for introducing people to your business or practice may increase the number of referred business. Better yet, offering the new, introduced clients a special not-available, any-other-time deal, will increase the response. You are giving a win-win situation to everyone involved. An example is a photographer client who gives the referred clients 10% off their photographs and gives the introducer a free 24 x 12 print of a photograph. Another example is an accountant client of mine, who gives 50% off the next year's self-assessment fee to clients who introduce new clients to the practice; these new clients are then given an introductory fee for their first year.
- SPECIAL EVENTS.
These can be an excellent source of new business as well as being good fun. Arrange an event and invite your top customers and two guests. However, you must ensure that the events are interesting and have value to your customers. A few examples could include: Special celebration lunch, or, A test drive, or, A live demonstration, or, A free seminar, or, A preview of new stock or designs. The opportunities are endless. Remember though, there must be a benefit to the customers and guests otherwise you may be left high and dry!
- GIVE PAYMENT TERMS.
By allowing customers to pay over a period of weeks or months can increase a company's sales quite dramatically.
- USE LISTS OF QUALIFIED PROSPECTS.
Sending your marketing message to specific targeted prospects can increase your sales and customer database quite rapidly.
All the best. AND REMEMBER, YOU HAVE AT ALL TIMES CONTROL OVER HOW YOUR BUSINESS DOES. NOBODY ELSE. REMEMBER MARKETING IS EVERYTHING. THE AMERICANS SAY CASH IS KING, I SAY THE CUSTOMER IS GOD. TREAT THEM WELL AND ALWAYS BEAR IN MIND "WHAT'S IN IT FOR THEM?"
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Article Submitted On: September 14, 2000