12 Marketing Strategies To Grow Your Business In This Recession

If the Pandemic, Recession (or whatever you want to call it), declining sales and rising costs aren’t enough to deal with, there’s always another curve ball around the corner for the media to scare the heck out of our customers! Despite what you are reading in the newspapers about plummeting sales and profits, there are businesses, many of which I work with, that are still experiencing sales and profit INCREASES. I’m NOT a Medical Expert Specializing in Pandemics; ironically, they don’t seem to be in short supply do they? nor a Doom and Gloom Economist telling you to put your head in the sand. I am here to Shine The Light on 12 Proven Business Strategies to help YOU on your way to Becoming The Dominant Business in its category. These Proven Business Marketing Strategies are what I’ve discovered in working with over 6,343 Businesses across America improve their sales and profits.

You might have read a quote of mine:

“Just Because There’s A Recession Doesn’t Mean Your Business Has To Participate.” Rory Fatt

The reality is, you shouldn’t be holding your breath for a bailout from the government.  If you got something great just don’t hold your breath for it to come again soon or keep coming for that matter! The only thing that matters to you is what’s happening in YOUR economy. And that you can have a great deal of influence on it. Here are some specific things you can do to dramatically increasing your sales and profits.

  1. Don’t let all the media negativity affect your actions, thoughts or performance. Yes, you need to be aware if the sky is falling (it isn’t by the way) but as my good friend Lee Milteer says “Whatever You Focus On Expands.” If you focus on declining sales and customer counts you’ll get exactly that – more sales declines. If however you decide to focus on what actions you CAN take to increase your sales and profits then that’s what you’ll get. MORE SALES MORE PROFITS. So don’t spend much time listening to the media negativity. 92% of America who wants to work is still working. Walmart, Target, Apple and yes Amazon still have people buying lots of stuff. Get over it.
  2. Stop Hiding Your Head In The Sand and take some action! Running away from or ignoring what’s happening only makes matters worse and things won’t get better on their own.
  3. Once you recognize what’s going to help you turn things around and INCREASE your sales focus on doing those activities. If you want MASSIVE RESULTS you need MASSIVE ACTION on your goals. Don’t be distracted by other people’s agenda’s and problems. Commit to every day advancing your key projects forward. Start with 15 minutes then 30 minutes each day on the project that’s going to have the biggest and most immediate impact on your sales. Eventually you’ll start to see the results of your actions and there will be no stopping you.
  4. Recognize what actions are going to make a difference. Once you learn a few basic marketing skills you’ll recognize that marketing your restaurant are the kind of activities that generate $100 or more an hour. For a restaurant dicing carrots is an $10 an hour activity. Doesn’t matter how much time you spend doing it you aren’t going to generate $100,000 a year in income. At my $2,197 per person seminars I often ask the rhetorical question “How many (insert what you do) do you have to (make, produce, create ) to make $20,000?” My point is it’s not about you spending more time and energy or getting better at what can be replaced by a $10 an hour employee. THINK about it.
  5. Start Capturing Your Customers Contact Information. Market Research says it’s 7 to 10 times more cost effective to market to your existing customers than it is to get a new customer. Yet contrary to all information to the contrary many business owners are infatuated with getting new clients. It’s infinitely easier to get the customers you already have, who are already familiar with you, coming in more often and spending more money. Once you have your customers contact information follow up with regular communication strengthening the bond with them and keep them coming back.
  6. Have Systems For Automating Their Marketing And Moving Them Up The Business Profit Pyramid. Once you’ve got the marketing going out to your existing customers have one of your staff, a mailing house, automate the process and just monitor the results.
  7. Plug The Holes In Your Marketing Bucket. Most Business Owners recognize they need to promote themselves to get new customers. However, since they rely on the people that sell them advertising space to design their advertisement they end up very frustrated as there is a huge conflict of interest. This is because advertising sales reps aren’t experts in marketing YOUR business. They are just selling space. Relying on your advertising rep to create the marketing for your business is like asking your mechanic for financial advice.
  8. Make All Your Marketing Measurable And Accountable. Stop wasting money on advertising that you can’t measure the results from. Either make it measurable or stop doing it.
  9. Use Proven Marketing That Follows Direct Marketing Principles. The majority of businesses copy other businesses in their category unsuccessful advertisements. This is like Marketing Incest. There are lots of Proven Examples of Business’s Marketing that do work. Seek it out and implement it. Don’t try to reinvent the wheel.
  10. There are two kinds of marketing for your business. One for your Existing Customers and another for New Potential Customers. They are totally different groups of people and the way you communicate and reach these two groups is totally different.
  11. Be sure your marketing dollars are targeted at those that are most likely to become good clients of yours. I often see local business owners spend huge sums of money on Digital, TV, Radio or Daily newspapers that reach people that live or work 100’s of miles away from where they operate or from people that will never have any interest in what they do. This doesn’t stand a chance of getting people to come to your business. You might as well burn hundred dollar bills if you are going to spend money on marketing your business that has no chance of success.
  12. Target Your Marketing With Laser Like Precision. Target customers just like your own best customers. Once you can describe them in terms of demographics, age, sex income, where they live what they do etc. then it becomes a relatively easy task to get them to come to your business.

There you have it 12 Marketing Strategies To Grow Your Business In This Recession

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