Thought for the Times

Growing Business in Today’s Economy

Growing a business can be difficult in any economic economic climate.  You understand the importance of defining and mapping out the viability of your product or service in your particular market. You understand that having a strategy, plus an accurate, achievable goal is a must. You realize that successfully marketing your products and services will require solid resources – either from within your company or with professional support from outside. In a weak economy,  you know that strong, viable marketing is not an option – it is essential to remaining in business.

Here’s a few tips on things that can help grow your business in a weak economy, and includes a few options for the new media environment:

• Identify and use high-credibility, low-cost channels, then maximize them
• Accurately measure channels that bring inquiries and business
  • Reduce non-productive channels and expand to productive ones
  • Improve marketing ROI & grow leads
• Improve your marketing processes to eliminate those unrecognized resource wasters. Pinpoint what is most effective, then refine it
• Ensure customer loyalty – not just their satisfaction:
  • Maintains existing business base, keeping aggressive competitors at bay
  • Increases word-of-mouth recommendations which brings new customers
• Grow your GREEN quotient: showing the environmentally-friendly intent and actions of your business communicates care and trustworthiness to your customers.
• Optimize your web site to boost your search engine “natural” listing results
• Be careful entering the “Wild west “ of the internet by using solid strategies and metrics to guide your activities
• Take advantage of new opportunities to dialog with and listen to your audience via the Internet:
  • Monitor your standing in online dialogs and forums
  • Respond to provide support and answers to issues you discover
  • Start a blog on a topic that will enhance your credibility
  • Start a value-added section to your website – one that’s not explicitly sales-oriented