This week’s blog entry is a pep talk to all those business owners who are hesitant to invest in growing their businesses.
Flat sales are considered the new up. You’ve made many cuts and are hesitant to make any more. You may have experienced layoffs. You wonder what else is next.
Guess what? You are not alone. Your competitors are facing the same uncertainties.
The reality is if you have survived this long, you’ve run a good business.
You probably think your conservative nature has helped you make it to this point. That may be true, but it’s time to make a change.
People are spending money. They still need products and services, and they are going to buy from companies in which they are aware.
This requires spending money on marketing, product innovation, introducing new services. As I have mentioned in the past – give people a reason to do business with you instead of your competitor.
By doing this, you are letting people know you are open for business.
– Email current customers with a loyalty discount offer. (If you sell a product, a subject line of “Free Shipping” increased click-thrus 60.7% versus other subject lines, according to an Internet Retailer study.)
– Call customers to reconnect with them.
– If your staff needs work, offer discounted audits or analyses. Chances are you’ll find something your customers need help with.
Here are 15 companies that started and succeeded during a recession:
- Federal Express
- Clif Bar
- Burger King
- Jim Henson
- Trader Joes
- Sports Illustrated
Enough with the pep talk.
Stop saving your business and start building it again.