Small businesses in particular are feeling the pinch of this recession. You can survive and thrive even in this economy with these 7 simple marketing strategies:
1. Transfer your skill set to another market. Many business owners get stuck thinking negatively about the impact the recession has had on their business. Creative business owners think about how to transfer what they know and are doing already to other markets and prospects.
2. Look to other prospects other than your ideal client base. If you have been serving middle class clients for the last umpteen years, switch it up and target a more upscale client that can pay cash.
3. Don’t look at shutting down extra service or features; look at expanding little extras that cost you little to nothing. By adding those, you stay above the competition and it requires less work.
4. Slim down your most expensive offerings into smaller chunks that people can and are willing to buy.
5. Throw in a few freebies to entice people to buy. Repurpose a few things that you already do or provide but people rarely recognize into small freebies that you promote. You would be surprised at how much people will appreciate that right now.
6. Cash is king right now. Keep a close watch on your payroll and expenses. Make sure you have enough cash on hand to survive a prolonged downturn. Slow sales happens to every business owner at some point. Make sure you are prepared for it.
7. Make time to brainstorm inexpensive marketing techniques that you haven’t explored before that are inexpensive and effective such as changing your menu of product or services, exploring different clientele, changing your geo-targets, etc.
Resist just lowering prices. Follow the steps above for small business success and you can ride out this recession.