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In tough economic times it is important to think
beyond the current downturn and start thinking of
creative ways to attract more attention to your
company's products or services.
There seems to be a little less to go around these
days as business owners carefully choose where
they are spending. This can be an opportunity
rather than a problem. Simply do what others
won't. When everyone else in your market is
cutting back and expressing their grief over the
economy and lagging sales, you should increase
your advertising.
Unfortunately, for some business owners, cutting
back on advertising dollars is the first knee-jerk
reaction that is employed. In difficult economic
times, getting your product or service in front of
prospective customers becomes increasingly
important, if not vital. Here's just a few
simple things that can have an impact:
Contact
all your former customers - Make up any excuse
to call them, but call them. They may not
need you now, but they may know someone who does.
Ask for referrals.
Network
- Take advantage of any opportunity to get in
front of a group of people to talk about what you
do best. Give your business card to everyone
you meet.
Offer
specials or generous payment terms - There's
nothing like a discount or extended payment terms
to entice customers. But don't worry, if you
use Charter Capital's
FactorLine, offering generous terms (as long
as 60 days) will have little effect on your
cash flow.
Re-valuate
your current advertising strategy - Make sure
you're reaching your customer base, and don't
underestimate the power of the Internet.
Sometimes a shift from traditional advertising to
on-line advertising can have a dramatic effect.
People have a lot of things on their minds these
days and it's possible that your product or
service is not among their top concerns right now,
whether it should be or not. You should recognize
opportunities to place solutions in their paths
that will capture their attention, impress them,
and bring them to your door.
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