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What to Do When Business is Slow
Here's some suggestions from Jerry Buchs, an independent consultant and author of "Strategies for an Economic Slowdown: 16 Proven Ways to Sell More of Your Products and Services While the Experts Decide If We're in a Recession"...a mouthful! We think the experts have now all concluded, we are in a recession.
» Commit to marketing consistently and aggressively all the time - not just when you need the business. Planning an ongoing marketing campaign ensures a steady stream of new business leads.
» Give existing customers superior service. Now is an ideal time to go the extra mile with extra service or courtesy.
» Add value to existing products or services. You can keep existing customers and land new business by offering more value than the competition.
» Motivate inactive customers. A properly scripted telephone call to a list of past buyers should generate approximately one order for every 10 calls.
» Motivate old leads. Most businesses give up on sales leads too early. Repeated follow-ups with better offers should convert 10% of prospects to buyers.
» Repackage your products or services to accommodate smaller customers on reduced budgets. Be creative.
» Stay positive. The most important thing about a slow period is not to get depressed by it. If you are down, prospects can sense your desperation and fear, and it has a negative effect on your dealings with them.