Like most of us, I’m sure you’re tired of hearing and/or dealing with this new economy. It’s no secret that overall, things have taken a downshift. You have two options at this point, you can keep whining and do nothing or you can start thinking creatively. It’s not just affecting small businesses, many big corporations are having to regroup and revamp their marketing strategies. Here are 8 tips that you can use to help you revamp your small business.
1. It may be time to rethink your customer base. Ask yourself: How can I revamp my brand to appeal to customers outside my niche demographic to make up for less business by existing customers? Sometimes it can be a matter of just rephrasing your marketing to appeal to a wider customer base, versus introducing new gadgets or product lines (which can be expensive and risky).
2. Automate, Automate, Automate. Technology is a wonderful thing, embrace it. Find ways to automate as many tasks as you can. You’d be surprised at how many computer and internet solutions are out there that can be great time savers. The time you save can be now directed towards other marketing projects that will build revenue.
3. Forget about the economy. Don’t get bogged down with all of the negativity floating around the economy. Success is a state of mind. Pay attention to how it changes your prospect’s buying behavior, but don’t let the gloom and doom get you all twisted up. If you sell products or services that are truly helpful or useful there will always be people willing and ready to buy.
4. Build Value. The days of the pushy salesperson are going…going…gone. People now don’t have as much extra cash as they used to. So they expect good value for their time and money. Focus less on selling your products and services and more on how you can help someone solve a problem and you’ll definitely see the results.
5. ABL (Always be learning). Technology has a serious case of A-D-D. It’s constantly moving and changing. The new, best, hot thing today is forgotten tomorrow. In order to grow your business, you have to stay on top of what’s new and working now. Go to your favorite search engine and look for some teleseminars, webinars and workshops. Maybe even try reading a book. There are tons of information available out there and you’d be surprised at how much of it is actually FREE.
6. Develop a Plan. So many business owners have spent most of their time as an entrepreneur winging it. Set goals and be sure to put them in writing.
7. Host an Event. If you don’t want to go out to market your business, bring the customers/clients to you. Hosting an event doesn’t have to cost a fortune, the biggest invest will be your time. Free or low cost events are a great way to get your ideal prospects in front of you. Another idea would be to team of with another business owner that has the same target market as you (but offers a different product or service of course). Teaming up makes it less of a strain on finances and time because you can split the cost and the planning.
8. Do Some Speaking. Speaking is another great way to get your name out there. You will have to do some free gigs but not to worry because it’s helping you build your brand so in the long run, it will definitely pay off.
According to the U.S. Small Business Administration Office of Advocacy; in 2008, there were 627,200 new businesses that opened. In the same year 595,600 of those businesses closed and 43,546 filed for bankruptcy. To be successful you have to be creative and not afraid to revamp your systems or processes at a moment’s notice. Use the tips in this article as a starting point for building something bigger and better than you could’ve imagined. Don’t be afraid to put yourself out there. As the saying goes, nothing ventured, nothing gained.
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