The Three Foolproof Ways To Survive An Economic Downturn

When the economy gets bad, it makes sense to cut your advertising budget. Sure there's less money being spent, but you don't have to have to watch your profit margin plummet!

But wait, there's more! Let's say the economy goes into a recession and your company is just beginning to see growth. You've got to make sure that your marketing efforts are still working their magic to attract new customers, or you risk losing a lot of money and wasting a lot of time trying to build your brand in a dying market. After all, you don't want to spend any of your advertising budgets to get people to come to your site if they're not going to buy anything!

Advertisers are feeling the recession just as much as you are. They're even more desperate for clients, which means you can get a better deal, even if you're already getting a good price. Every penny you can save is that much more profit you'll earn on the products.

You've got plenty of reasons to get your business noticed. Local newspapers are always looking for something of local interest. Make the news! There are lots of ways to get your business noticed, but publicity is one of the best.

Did your advertisements really need to be as big as they are? Bigger may mean more people see them, but it doesn't mean they'll respond. We tend to think bigger is better, but the facts are that short ads with 11 words or less often generate a higher response than large ads.

Many people don't have to endure a recession, but some of your customers will. Don’t be afraid to make big-ticket sales, because people who value what you have to say will value it even more. Additionally, when money is tight, people who trust you and your company will value it even more.

This is a simple but powerful way to generate a lot of traffic to your site. Create products that are similar to yours, but make them extremely expensive. People will sign up for the site hoping to get the product, but once they get it they will be shocked by its high price and won’t bother paying for it. The people who really value the product will pay a high price to buy it, though.

It’s important to remember that even though the sales are fewer, the actual profit may be even greater than when it was sold at a lower price.

Your customers trust you to provide good products, satisfactory service, and to be there for them when they need you. Think about it...it’s much easier to sell to people who already have a relationship with you.

Make the most of every opportunity to increase your sales volume within the customer base you already have. Do you have a product that goes with the one they are purchasing? Do you have an offer they would find appealing? Offer it to them at the register. It's a proven and effective method for increasing sales. You may be surprised at the additional sales you can generate from those who are already buying from you.