I don’t know what it’s like where you are, but here in the UK, we appear to have a bit of a Recession!
Government cuts are biting, public services are being reduced and people are losing their jobs. None of this is a good thing for business confidence. Businesses everywhere are looking where to cut costs, keep finances trim and avoid waste. Everyone is looking for the green shoots of recovery.
In order to aid the recovery of the economy, all businesses need to generate new customers and bring in new business. If you are a business and you are relying on your usual customers, then you not in the right position for growth. Usual customers and their circumstances can change. In looking inwards at cutting costs, companies can forget to look outwards for new business.
ake all new ideas on board when you are looking for new business. Network regularly, meet with people face to face and use social media to make new contacts.
Keep your website regularly updated with new Search Engine Optimised content which will enable it to rise to the top of the search rankings. Remember that older sites have more currency with Google. Keep the content fresh and interesting, even adding videos, podcasts and graphics to show off your company in a new light.
Don’t neglect traditional forms of marketing either. Brochures and newsletters are attractive ways of introducing your company to potential customers and last longer than an email. However collecting email addresses does enable you to introduce short term offers which may entice new custom.
If you are a services-based company, then re-contact old clients and see if there is anything they need. Solving other company’s problems is an age-old way to encourage new business but it works.
Five Signs of Growing Businesses
1. They are continuing to invest in marketing and sales. Keep marketing, even when business is good because you never know what is around the next corner.
2. They value their employees. Offer your employees incentives to bring in new business.
3. They are open and transparent with new clients. If new clients can see how you operate then this is much more confidence-building than secrecy and refusal to share how you do things until the contract is signed.
4. Flexibility – the companies that are best placed to ride through a recession are those that are able to offer what the client needs. Every client is different and adapting to suit are the marks of a company that will survive.
5. Accountability. Not only to the client, producing work that is fit for purpose and on time, but also to the finance department. Stay on top of tax bills, VAT and invoices and your company will thrive.
A recession is always good news for some and bad news for others. Keep investing in the right things like marketing and the new business will help you to survive the recession and perhaps even thrive.
Photo Link: Blueberry Flower Buds Against the Sky