Airplanes & Ostriches
“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” Henry Ford
No one ever said that growing a business was easy – but someone is making money out there and it might as well be you! Companies that ‘bury their heads in the sand’ by cutting back on prospecting while waiting for the economy to improve are leaving the window wide open for competitors to gobble up sales.
Counter intuitive as it might seem, bad economic times can be great for businesses with disciplined sales and marketing teams and high impact programs to forge a path to success. Implementing these sales and marketing tips will help ensure your company is one of them.
Diversify for Development If your business depends primarily on one industry that is being hit hard, look for other sales avenues within it. Identify new channels, product applications and partnerships that compliment your business. You might have to ‘tweak’ your marketing message and/or service offerings to address new needs. The result? Increased visibility and awareness in the marketplace, prospecting opportunities and broader market appeal.Get Creative with Pricing Pricing and budget cutbacks are often show stoppers in slow times. Avoid losing the sale by offering extended payments, limited time offers, discounts for large purchases and long term engagements or picking up part of the expense to get customers from ‘no’ to ‘go.’ In tough times, a little good will goes a long way.