When times are tough, those who keep advertising and tell their story gain market share. And, they never lose it!
Conversely, the timid lose market share and never regain it. It’s that simple, and it’s been proven time and time again.
Right now, most sectors of the economy are flat with modest growth projected. Many businesses are holding onto cash for peace of mind. Maybe it’s time to think about investing that cash to increase sales.
Paul Lemberg, author of Be Unreasonable, says it succinctly: “. . . While many people are hurting, the smart ones are making an absolute killing. Any business that can market harder when the rest of world is running for cover will not only prosper in bad times, it will positively explode when things do come back.” Now’s the time to market, so you can increase your share of the pie.
Here are some basic marketing tips that you should always follow, even in uncertain times:
•Focus on what you do best. And, get even better. Tell people about it. By focusing, you underscore what makes your business successful, and you’ll increase your business. Show prospects the benefits of doing business with you.
•Don’t be hesitant. Spread the word about your product/service. Now’s the time to increase your marketing. If you don’t have money to spend, make your employees and customers your ambassadors. And toot your own horn.
•Sell harder. Selling takes time. Be persistent. Research shows that it takes as many as seven — even ten —contacts before a buyer says “yes.” It’s not uncommon for salespeople to give up after the first try. Many professional salespeople admit to quitting after three contacts with a prospect. So, hang in there and sell harder – and longer.
•Invest in marketing: Lots of companies have an annual budget for marketing. That’s a good start. Dollars spent on marketing should generate revenue, so it makes sense to spend a percentage of your revenues to generate more revenue. Try a couple of approaches to identify the one(s) that generates the most sales, and then invest there.
•Celebrate success: Who doesn’t like a good celebration? And, it’s really motivating. Your employees will feel your excitement – and they’ll spread it to your customers. Don’t wait for the BIG sale to close, celebrate small achievements too. Inspire sales with success.