Times are tough.
In the current economic climate, the battle for customers or clients is fierce and it often determines which businesses can keep their doors open. As more businesses close their doors for the final time. Keeping a good strategy for growth isn't something that should be taken off the table. It can often seem like everything is an obstacle and much of your focus can be spent on simply trying to survive the hurricane of bad luck, they say it does come in three's. That's when you need to take a step back and give yourself some perspective, refocus your attention on the job in hand. If you have a quality product or service that gives value, it would be a travesty that by mere perilous circumstance your customer's be denied it. So, it's time to put your thinking hat on. That's right, it's time to take your mind out of survival mode. To perhaps reframe or reconsider how you are approaching your business right now. It might sound like a tall ask, but it is possible that your business can still grow despite the challenges you may face. Even slight changes can make a big difference. "In every difficulty, there is opportunity". I'm pretty sure someone said that. Maybe it's time to start reshaping your marketing or the way you are finding new business, or even the way that new businesses are finding you. It's easy to take your eye off the ball in the longer-term picture when you're reacting to an immediate challenge. We'll I'm writing this to tell you it's possible to do both. Here are a few simple ideas. How about making your customer's an offer they can't refuse. Reducing your initial profit margins on a particular product or service may seem counter intuitive but if your offer is good enough, you can actually gain more business than you otherwise would, this slight reduction in profit can pay pack dividends later down the line by building a great customer base, which you can perhaps reapproach with a fantastic new offer in 12 or 24months. When you might really need their loyalty. If the customer is getting a great deal, then they are happy, and you can start to build a new relationship and lifelong customer, providing you look after them of course. Some of the bigger businesses do this all time, you only have to pop into one of the chain coffee shops and get your loyalty card stamped to see how effective this can be. It works too. Another great way to increase custom is to sell packages at a reduced rate, this means you can offer your customer's several products together with a healthy discount. Whilst your profit margins per item is slightly reduced. For every one package you sell you may have several items in it, so your overall sales increase and your clients or customers get an absolute bargain. Who doesn't love a bargain right? This can be done for service provider's too, why not offer a package and throw in a little extra or a free sample of another service you offer. You can soon start to build your client base this way. Try something simple like letting your old customers know how much you appreciated them by sending a card or letter and adding a personal touch, after all they've played a crucial role in building your business. I'm sure they will certainly be grateful for you reaching out in that way, you don't need to add an offer. You can simply remind them, you're still in business doing what you're doing. You may get some returning to you. Maybe you could have a brainstorm, even writing down 10 bad ideas could yield 1 really good one. It's only time for a rethink and not a surrender. If you found this blog useful or know someone who might get some value from it. Please give it a share or check out some of these great books for inspiration.
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