| One of the most reasonable approaches to
surviving an economic downturn is to slash all unnecessary business expenses.
In their panic to save money, wild-eyed and frothy-mouthed
entrepreneurs begin looking suspiciously at their marketing plans. On the surface,
advertising cutbacks would seem to be a logical choice.
Why Entrepreneurs Make the Mistake of Cutting Their
Marketing Budgets
If you have taken a close look at the magazines that arrive
in your mailbox every month, you may have noticed they've been down-sized... and it wasn't
the publisher's idea.
Advertisers are running for hills in droves as they pull
back and slash their marketing budgets - in many cases by half. The result is formerly
burgeoning magazines that are now a shadow of their former selves.
It's a tempting… but very dangerous strategy.
Especially when you consider that your company thrives on both client retention and new
growth to survive.
To stay out of economic harms way, you need to keep your
marketing momentum at full throttle even during a recession. And now is the BEST time
since your competitors are hiding from potential customers. Your marketing will really
stand out even more!
But, if you think that "hunkering down" through
an economic storm is the way for your business to survive a recession...
Here Are the Top 10 Sure-Fire Ways to Kill Your
Small Business
1. STOP MARKETING and pretend everybody knows who you are
and what you have to sell.
2. STOP MARKETING and fantasize that you have more
important worries than promoting your business.
3. STOP MARKETING and make believe your customers won't
notice that you discontinued your monthly client newsletter.
4. STOP MARKETING and keep telling yourself that your
customers would never abandon you.
5. STOP MARKETING and ignore the potential new clients that
would buy your products or services if they were contacted by you.
6. STOP MARKETING and stop thinking about your competitors
and the fact they want your customers.
7. STOP MARKETING and keep telling yourself it costs too
much to market.
8. STOP MARKETING and disregard the fact that marketing is
not a business expense but an investment.
9. STOP MARKETING and make-believe your established
customers don't need to be reminded that you appreciate their business.
10. STOP MARKETING and forget that now is the best time to
market since all of the idiots are cutting back on doing it.
Certainly the choice is yours. You can follow the above
practices and drive your business into the ground. It's up to you. But do you really want
to bury your business forever?
If the answer is 'no'…
Here Are 3 Reasons Why You Should Relentlessly Market Your
Business Today:
- Prove to your clients that you really do value and
appreciate them – market to them using a print newsletter.
- Show your customers that you are a successful entrepreneur
willing to invest in your relationship with them – send a monthly print newsletter.
- Instill trust, credibility and confidence in you and your
company as well as your service or product – publish a customer newsletter.
The Bottom Line
If asked to list their company's most valuable assets, many
would include buildings, equipment, inventory and accounts receivables.
Very few would even think to include their customers.
Your clients are the most valuable asset you have. When you
use attentive, relationship-building marketing strategies like distributing a print
newsletter, you create a bond that will allow you to weather any type of economic
environment. |
