Back to basics during a recession

19 February

Despite the doom and gloom economic reports a recession presents as many opportunities as it does challenges. Before you prepare an intervention for me consider the following marketing and business advice:

1. Do what works. Think about what you did during your first year to get your business or organization off the ground. Now isn’t the time to experiment with interesting but untested marketing ideas.

2. Market your business or organization. I made this a separate item even though almost all these concepts involve promotion and attraction. It is that important. Don’t fall into the trap of thinking that you can afford to cut or eliminate marketing your business.

3. Communicate your uniqueness. Positioning how you are different should always be prominent in all your communications.

4. Be flexible. Consider the economy and your customer and his or her needs. Is there something you could easily tweak about how you do business that would be helpful and would set you apart?

5. Be the problem solver. The restaurant industry took a look at tight family budgets and came up with many more set menu meals and “kids eat free” deals than previously. Do what you can to solve your customer’s problems and they will stick with you and you will pick up some new customers along the way!

Excerpted from the Chesapeake Business Ledger. For full text go to: New Year, New Opportunities

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