Smart marketers and businesses know a thing or two.
- They know that even in a down economy there’s always opportunity.
- They know that economies go in cycles. Good times will be back, even if they’re different.
- They know that those who market aggressively are the ones who will be there when the good times roll again.
- They know that winning means thinking creatively,borrowing ideas from other industries and focusing on customers and prospects
- They don’t cut their marketing budgets. In fact they increase them and market even more aggressively.
Here are 7 business survival tips you can apply to your business today – and every day. The great thing is, they don’t cost anything extra, just a shift in thinking.
1. Re-assess your budget – don’t cut it.
If you need to fight for your advertising budget in the face of potential reductions, consider re-assigning it to another aspect of your marketing that you can more accurately measure. Direct response letters and landing pages and newsletters should be at the top of your list.
2. Look for opportunities
Instead of absorbing depressing news, proactively look for new ways to help your customers. Survey them and ask them how you can help. Can you offer something special that they’d particularly appreciate at this time? Something that would make their lives a little easier? If they’ve been loyal customers now is the time to show your appreciation. They will appreciate it and remember you.
3. Tune up your website
Most business websites are poorly constructed. They are often product focused, overly corporate, and confusing to navigate. Your mission and vision statements may be important to you, however what your customers want is a focus on them, and their needs. Critically review your website and give it a tune-up to make it customer focused.
Don’t know how to improve your site? Engage a copywriter to rewrite and optimize key pages of your website. If a re-write is beyond your budget, get a website critique as an alternative. You can then re-write the copy yourself applying the tips in your critique.
4. Focus on your niche
Dig even deeper to uncover any new needs your customers may have. Are you meeting them all? How do you know? Do they have new needs you could fulfil? Are you connecting with them regularly with, for example, an e-zine? Have you been taking their loyalty for granted or been proactive in ensuring a great customer experience?
5. Capture EVERY lead
Here’s where off-line business can borrow a leaf from seasoned Internet Marketers. If you’re not building an effective list and establishing a relationship with your prospects long before they buy from you you’re wasting precious marketing dollars. I speak with many businesses who do not have a list, or, if they do, it isn’t very effective. Less than 2% of people who come to your site will buy directly from it (even a direct marketing site) yet, on average, up to 20% will join a mailing list – as long as it provides them value. Of those, probably 5% of visitors are likely to buy from you.
Think … you could increase your online sales by about five times. If you don’t (yet) sell on-line how consider how many leads you could generate from an effective list. The numbers may be a little different for off line sales, however the key point is this – learn how to build an opt-in list and squeeze page on your web site. Or have someone build one for you.
6. Track and Measure Everything
When it comes to your website do you know where your traffic comes from? If you haven’t already, ensure you are using analytics, such as Google Analytics to track and measure your traffic. As well as being a powerful analytics tool, Google provides free tools to help you understand where your traffic comes from, (likely your competitors if they’ve cut back on marketing) what content they visit and what to do to make them stay and turn visitors into leads. You also get detailed reports, which make good foundations for building a case for more marketing dollars as well as showing how your current dollars are being well spent.
7. Make use of Social Media and Web 2.0 tools
A blog can drive traffic to your website as well as help you get better visibility with the search engines and engage with customers. Twitter can help you stay in touch with and gain new prospects. Social bookmarking sites such as Del.icio.us and StumbleUpon can ensure you’re found by interested prospects as well as drive traffic to your site or blog. YouTube can help you market virally. Internal Social Media sites can help you collaborate. Linked In can connect you with new services and people.
As with anything worthwhile a time commitment and a plan is required, however most of these tools cost little or nothing to set up. A blog can be set up in less than an hour (I know, I’ve set up several).
However none of these tools can do anything for you if you remain on the fence. Many B2B companies still view social media as something for B2C. Now is an excellent time to take advantage of your competition and start using Social Media and Web 2.0 as part of your marketing plan. For tips on writing specifically for Social Media and engaging your audience check out my free report called The 19 “New Rules of Social Media Copywriting.
8. Intensify your marketing efforts
Do the opposite to your competitors who are cutting back. Write (or get help writing) articles, case studies, newsletters. Optimize your web collateral. Track the results. These are all things that will keep you in your customer’s mind and attract prospects to you.
9. Maintain a positive attitude
Attitude really is everything. Yes, times are tough. But there is astounding opportunity out there for those who can spot it and even create it. Your customers are still looking for solutions. Business to business prospects still need to buy and there are still needs to be met.
With these tips you can be sure you – and not the competition – are the business poised to anticipate and meet customer needs.
Do you have a marketing survival tip to share? Are you using Web 2.0 in your marketing? Share your thoughts.
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{ 3 comments… read them below or add one }
very comprehensive and informative post….keep up the good work
The most important thing you said is keeping a positive attitude!
Look at the news and your blood pressure will take a huge spike!
When you build your business, it is important that you only listen to the sources you trust to give you positive, but correct information. The stuff we currently get from the alphabet channels is like listening to Tokyo Rose in the war. She will tell you that things are so bad that you should quit. The news shows are so like that. They want you to tune in, so they paint a catastrophic picture and then they don’t offer a solution.
I appreciate the sound advice you are giving and hope that everyone who reads your blog will come away with the nuggets that they can use to hit the ground running.
Paul Zane Pilzer, in one issue of Success Magazine, said that those who don’t subscribe to the recessionary trends and actually spend money improving their business and getting more customers will find themselves so far ahead of the competition, that many competitors will end up quitting because they don’t have a chance!
I agree. Those who take the time to improve their business while others are cutting back are going to have the advantage!
Have an amazing day!
Micheal Savoie
http://twitter.com/michealsavoie
Michael, thanks. I too hope people will come away with at least one point they take action on.
I totally agree with you… all the media have been are talking heads, and in many ways they have contributed to the panic of the last few weeks.
Deciding not to listen to them (turning them off) is the first powerful step any business can take. And attitude really is everything. Your comment has given me some ideas of other posts… so watch this space.