Monday, November 24, 2008

Recession Proof Your Small Business

The worst thing you can do when business is slow is hibernate!
Get out there. Be visible.

You cannot rely on drive by traffic. The days of "you build it, they will come" are long gone.


In order to increase customer traffic, you must first know your customer.
Keep track of what they buy or what services they tend to need and remember.
Define the demographics (sex, age, habits, etc.) of your best customers.
Get feedback from your customers.
Track the results of your promotions.


It is 5 to 10 times more expensive to find a new customer than to retain an existing customer. Therefore, customer loyalty is imperative. Concentrate on the benefits they receive from using your products and services.

You can build customer loyalty by following these steps:

Make your relationship personal.
Ask customers about themselves and their family.
Delight them by remembering dates important to them like their anniversary (this could also be the date they first became your customer).
Over-deliver and surprise them with an extra bonus.
Do more of what you do best and expand on it.
Send them thank you notes, they may lead to referrals.
Surprise them with a gift.
Send them useful information about items that might interest them.
Reward them with a frequent buyer program.

When developing a new customer you must do four things:

Get their ATTENTION!
Dramatize the biggest benefit of your products and services.

Keep their INTEREST!
Explain your product and service in short simple sentences.

Create DESIRE!
Focus on the benefits rather than features.
Use pictures or interesting descriptions.

Provide a COMPELLING REASON for why they should buy from you.
Sell them before your competitor does.
ASK FOR THEIR BUSINESS!

How to find new customers and sell them:
Ask for referrals - develop a referral program.
Seek joint venture opportunities- a local tile contractor created a networking group with contractors in other trades. He has found new business that way.

Use direct mail creatively:
(I realize cash flow is a concern but this is an investment you cannot afford to pass on!)
Send an invitation
Send Coupons
Send Promotional Gifts
Mail often

Get and use testimonial endorsements.
Hold a drawing.
Browse the internet.

For more marketing tips like these, visit our website at http://GetMoreROI.net and click on our blog tab.

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