Thursday, October 27, 2011

Strategies to Survive the Recession

In a weak economy, diversification may be your business' best friend. The more services you can offer, the more clients you will be able to find.

Outstanding Customer Service
Once you've started attracting customers, you'll have to worry about retaining them, and in a stagnating economy that may be even more difficult. You must provide not only a high quality product, but also exceptional customer service.
 Marketing Intensification
One of the biggest mistakes business owners make during periods of economic slowdown is to cut back on marketing and advertising, doing this could be most detrimental to your business. Instead, your marketing needs to be more aggressive and more comprehensive than ever.

Adopt Cutting Edge Technologies
One of the best ways to stay ahead of your competitors is by keeping up with current technology. So if you aren't familiar with customer relation management software or even e-mail marketing, now is the time to do so.

Stay Focused
Nothing will damage your business more than business myopia or short sightedness.. In order to stay successful, you must always keep an eye on your long term goals and objectives.

Seek New Ways to Improve
If you are like most people, you are content with the status quo until something disturbs it. You should be constantly re-evaluating not just your marketing plan, but all of your business strategies including policies, pricing, and employee performance.

based from the article of Collin Almeida

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