“Seven Marketing Tips for a Tough Economy”
In this issue:
- Seven ways to sell during a tough economy
- Featured Client Success
- Podcast your way to new clients
Marketing is always important. During a tough economy, it’s even more important - especially for business-to-business service companies.
When you create awareness during the slow periods, you’ll be top of mind when people are ready to spend again. And to spark your thinking, I’ve selected my top picks from marketing watchdog agency Marketing Sherpa.
- Negotiate better rates and deals
“Everything is negotiable”. This saying is no more true than during slow economic times. The people who supply your services (shipping, payroll, phone, etc.) are in the same boat as all of us. Talk to them, see what they can do. Because unless they want to lose your business, they’ll probably be happy to strike a deal.
- Track what’s working (and not working)
Databases are a business owner’s best friend. For example, you can measure your marketing return on investment (ROI). You can analyze your sales cycle - how long it takes from initial contact to closing the sale. This defines the frequency of your promotional campaigns.
Best of all, you can increase what’s working and reduce what’s not. Indeed, your database is one of your most effective sales tools. Ignoring your database is like blindly spending money.
- Make it easier to buy
When people shop for a car - or cereal or a house or a book - they want options. The same goes for how they actually pay for those things. We recently ran a test showing almost a 40% increase in sales when customers could purchase online vs. only fax, check-by-mail or phone.
So, give people multiple options or packages of services – or package your products together to provide multiple options. We know this strategy is often very difficult to figure out in one’s own business, so let us help you brainstorm this.
Also, consider offering a multiple payment plan. If someone can’t afford the entire price right now, they might be able to pay it over time. When you lower the barriers, you make it easier to buy.
- Bring them to your site
You have a site. You have a valuable service. Now, if only prospects could find you. When they can’t, they’ll find your competitor.
That’s why it’s absolutely critical that you employ effective Search Engine Optimization (SEO) methods. The time you invest will be well worth it. Ignore SEO and it will be worth it to your competitors. Our optimizer has sites ranked #1 on Google – the litmus test of skill.
If you need our service take a look at our optimizing package.
- Blend Internet and traditional marketing
During the dot com boom and subsequent crash, I witnessed clients sacrificing traditional marketing with the belief that only internet marketing was required. We saw what happened to those companies.
Unfortunately, there are people who still hold this belief. They point out internet-only success without understanding the costs. The truth is that to maximize ROI, you need to incorporate some traditional marketing, such as getting articles published or joining organizations that include prospective clients. Our advice: for your best return, blend the old with the new.
- Focus on the sale
When cash is tight, you need to focus on selling. Sure, brand building can’t be wiped away forever, but sales-focused efforts keep companies profitable in an economic downturn.
The key is to consistently create awareness (via branding) while focusing on closing the deal. This balance helps to eliminate the “swamped” or “starving” periods and instead, brings in more business. Without a clear cut sales process, you’ll just lose sales. Once you’re shown how to set this up, it saves time, secures more sales, and levels out those peaks and valleys to create a steadier sales stream.
- Provide a trial offer
Other than the occasional blended coffee drink, you don’t see a lot of impulse buying during a recession. People first need to see how they’ll truly benefit from your service. So think about promoting a trial offer.
A bookkeeper can give an hour of complimentary QuickBooks training. An auto mechanic can offer a no-charge diagnostic test. An acupuncturist can do a complimentary 30-minute treatment. When you offer a taste, you display your expertise and build trust - two of a prospect’s key buying criteria.
A trial offer from Allison Bliss
Now that you have some ideas, we’re here to help you transform them into profit-building strategies. With our consulting and creative services, we can get you through the recession - and into a prosperous future. Contact us today for, yes, a complimentary 30-minute consultation. And there’s more...
Your referral equals $65
We value referrals from our clients and colleagues. As a thanks, I offer a half-hour consultation (or a check for the equivalent value of $65) to anyone who refers someone who becomes a client. Contact us today for, yes, a complimentary 30-minute consultation. And there’s more...
FEATURED CLIENT SUCCESS
Deborah Welch of Reflective Leadership Global is an expert in “servant leadership”. . . a method that helps leaders in large corporations, government agencies, or school districts serve their workforce in deeply meaningful ways which affords huge successes in retention, performance measurement and joy at work. And the leaders are supported to unearth meaning at work. Joy and meaning – at work? It’s possible. Clients don’t just rave about her, they positively glow from their experience. Meet Dr. Welch: www.reflective-leadership.com (yes, we’re updating the website this year).
“As I put into effect all that I have learned from my first coaching contract with Allison, I can see how I will easily double my revenues this year.
She interviewed my clients to evaluate how to articulate what is at the heart of my unique strengths. Now it’s easier to explain my work to potential clients. Allison also asked questions that helped me learn what I needed to go to the next level. She helped me create a business plan that leverages my strengths.
Allison has changed my attitude about marketing from one of effort and pain to one of enjoyment. I will continue to work with her, as she provides a powerful kind of support whenever I need ideas to enhance my marketing efforts.” – Deborah Welch, Ph.D., Principle, Reflective Leadership Global
Podcast your way to new clients
Podcasts make it convenient for prospects to access your message. They entertain and build credibility. We offer complete podcast production services including recording, editing, sound mixing, music selection, distribution, and training you to do your show. To get a sense of the possibilities, click on this symbol 
You can listen to our podcast at your computer, or download it to your iPod
Follow Your Bliss.
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