5 Ways To Drive Sales In A Bad Economy
The success of most businesses will have a direct relationship with the condition of the current economy. If there is a need for your products and services, you should still continue to market your business. Why? Because new leads are the lifeblood of any business in a good or bad economy.
Regardless of whether a worldwide pandemic has shaken your business to its core, or you are apprehensive about allocating for marketing costs, note that discontinuing your promotional efforts can hurt you more than it can help you. But don't fret, there are actions that you can take to reduce expenses while operating during uncertain times. Here are a few ways to do so.
Create A New Promotional Directive
Adapting to the new state of the marketplace is a great way to stay in front of customers. Toward the beginning of the coronavirus pandemic, several businesses experienced a huge decrease in sales due to mandated business closures and industry-wide layoffs. The key is to become a "chameleon company" that can adapt as soon as it sees changes ahead. Consider new promotional campaigns such as offering your customers drop-off services, or free shipping if you already provide this service. You can also consider offering some sort of relief or local community service to help those who've been directly affected by the current conditions of the economy.
Develop Related Content
As a great many people are telecommuting, they're now online searching for everything under the sun, such as ways to stay in shape, new languages, videography, and the latest in funny videos. Perhaps you can produce new online content such as free online workshops, white papers, interesting articles, or Q&A sessions. If your company already has any of this type of content available already, find ways to amplify its reach with online marketing.
Beef Up Your Online Presence
If you ever have to close your brick and mortar location simply turn your attention to your online presence. Start chipping away at your SEO (Search Engine Optimization) and online social efforts to keep your brand alive with your consumer base. Are there any contests that you've considered initiating in the past? Do you have great videos that your target audience may find interesting? Consider brainstorming at least 10 ways that you can build up online traffic to your website.
Start a Webinar Series
Numerous business owners are choosing to connect with their audiences virtually by way of webinars, online instructional videos, and other helpful services. Take note that implementing new online offerings may take a few times to perfect when you're first starting out. Be sure that your staff is prepared for launching these offerings by giving them the tools that they need. Making sure that they have and know how to use certain tools such as Skype, GoToMeeting, and Zoom can make your transition to the virtual space much easier. It's also helpful to have your team do dry runs and test out all audio equipment and online graphics.
Make Business Friends To Cross-Promote Products
Lastly, use platforms such as Twitter, LinkedIn, and Facebook to connect with other brands and social influencers. Not only will this help you to get your message in front of their audiences, but the relationships can also help you to gain future backlinks for your SEO efforts.
Try to avoid panicking when you experience unprecedented business setbacks. Unfortunately, for many business owners, they've had to weather a few. Remember that consistency with marketing will always play a big role in keeping your brand in the minds' of your target audience.