While news cries about the recession, you can choose not to participate if you understand how to market in this environment. Everyone wants to tell you what to do, but only this method will show you what works for you.
Right now more than every the measurement of your marketing and selling strategy will do more to improve your business than anything else. No new marketing strategy, technique, or fiberty-giblet will increase your revenues in tough times without measurement.
Start by measuring what you are already doing. Build a mini profit and loss on every campaign, determine the number of new customers created, and the value of each. Tag campaigns, use advertising codes and direct marketing methods to map out what works (and what doesn't.)
Now is a great time to split test your sales presentations and track daily actions. Lead capture and qualification is important, be sure you are source tagging every lead that comes across your desk.
Does this all sound like a lot of work? Maybe. However, put marketing measures to work in your process and you'll know where to invest in growth.
Not every company will suffer, history shows that recessions or worse can be a companies turning point for long-term growth. The matter of change is knowing what works, testing against current practice, and be willing to go when others lament.
When you get back to basics, you'll find you don't have to participate in the gnashing of teeth some will face in these uncertain times. Start with basic measures, use direct marketing, and stay focused.
© 2008 JWH Consolidated Inc, All rights reserved.
Justin Hitt has more than two decades of experience transforming business relationships into profits for clients. Practicing risk and project management in high stakes environments. Featured in Six Sigma Magazine and Greater China CRM. Author of numerous books, reports, and training programs on strategic relations.