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Review Training
Review does not mean reduce or eliminate. Training can be more
important during turbulent times. This is when your skills and those
of your staff should be at their best. You don't want to be losing
sales because of poor customer service or quality control. Categorize
your training needs into three categories:
* Key individuals that will steer you through the turbulent times.
Provide individualized coaching or training to them. Invest strongly
in your best assets.
* Departments that need to stay sharp and ahead of your competition.
Provide group training, tele-seminars or attention to improving
skills sets.
* Staff that need to be motivated and reminded of purpose and the
little things that make the difference. Get them each a copy of
a book that best conveys that message. Ask each person to report
at weekly meetings on an assigned chapter in that book. Make them
feel important. It only takes one person's mistake or sabotage to
sink your raft.
Review Advertising
Too many companies stupidly make major cuts in advertising during
turbulent times. My guess is that they did not review their advertising
during the good times. Categorize your advertising into three categories:
* Advertising that is measurable and has demonstrated a profitable
return. Continue to measure as you grow your investment in this
profitable avenue. Unfortunately, too many companies don't measure
their return on advertising or they don't design their ads in a
way that allows the results to be measurable. So they have nothing
in this category. A shame.
* Advertising that has gained market recognition and that you believe
to be working. You just don't have a clue how profitable this venue
is. Start to build in some measurement indicators. Vary the ads
and measure. Then increáse or reduce investment appropriately.
* Advertising that is merely "me too" ads. You bought
an ad because your competitor did. It might be a waste of money,
but you don't know. Reduce the expenditure or eliminate it.
Build Relationships
In turbulent times nothing is more important than relationships.
We will warmly remember those who suffered with us or helped us
through the turbulent times. Invest strongly in strengthening the
relationship with your best clients. Segment your clients into three
categories:
* Best clients. Divert more attention to their needs. Instruct
your staff accordingly. Jump through hoops for these clients. Provide
them additional value and services to help them. Communicate with
them more often.
* Average clients. Maintain service levels and pricing. Attempt
to upgrade them to A clients by introducing additional services.
* Pain-in-the-neck clients. Don't let them bully you into reducing
your prices. Instead, you might reduce your level of service to
them. Give them the choice of upgrading or leaving. You'll have
less stress in your life.
Important Note for You
Relationships are more important than branding - especially during
turbulent times. When you have the choice to invest in branding
or invest in relationships - choose relationships. It is the far
more profitable choice for small and medium sized enterprises. Remember
that big business invests in branding because they cannot build
relationships. Don't be fooled by the branding hype.
Online Social Media
Don't hide. Use the Internet to keep your message and name in front
of people. If you haven't yet created your blog, this is a good
time to start. Post regular tips, news and positive messages. Register
and maintain your accounts on social networking sites like LinkedIn.com,
Plaxo.com and Facebook.com. Explore the use of YouTube.com and Flickr.com
to publish product news and demonstrations. Barack Obama, the US
president, used these tools to successfully promote his presidential
campaign and he plans to use them to convey his messages to the
American people and the world.
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