It’s not all doom and gloom! There are opportunities to be had by tapping into the recession and helping to solve some of the problems currently being faced by your customers. For example, yours truly left my senior marketing job of three years to set up my own consultancy, aware both of the need particularly by small businesses to maintain their marketing efforts during this time and of the expensive monthly retainer fees charged by most consultants. My offering was qualified marketing and PR advice, based on experience and offered on a project basis, to help with small businesses’ cash flow. Although only launched in February, it was an instant success and I now have a considerable repeat-instruction client base and appeared in The Daily Express this month.
Research your market, find out what it is your customers particularly need at this time which is not being offered in abundance elsewhere, and seize the opportunity. You could also tie this into the added value concept which we talked about yesterday. So, for example, if you’re a website design company, you know that your client needs as much exposure as possible, so you could either submit the site to several directories, offer free hosting for a year or throw in a local press release, too. If you’re a children’s play centre, you could offer free party bags for all children holding their birthday party there, to cut the cost for the parent.
An excellent example of this is AccuRead, who has adapted the firm’s offerings to a change in government policy.
Don’t simply continue to do what you’ve always done and expect the custom to still be there. Your customer’s needs have changed and so must you.