Everybody’s broke! That seems to be the battle cry these days. From credit crunch, to consumer tightening word on the street is there’s no money left. And guess what? Many business owners are buying that and treating their customers like they’re broke. I got news, and maybe you heard it hear first, people still have money…just not as much as they used to.
Why Treating them Like They’re Broke is Breaking You
The general idea among businesses is to reign in and hunker down on the long road to economic recovery. While ensuring your business is operating efficiently and cutting excess is always a sound business practice you need to be careful you aren’t cutting back in areas which are affecting your ability to sell. For example if you’re drastically cutting your ad spend because you think nobody is buying, you’re shooting yourself in the foot.
Reset Your Mindset
Consumers are still buying what you’re selling; they’re just buying less of it or being more selective. Think this through for a moment. If you’re approaching your customers with the assumption they are broke, cutting advertising or reducing sales people may seem like a good idea. But what happens in an environment where consumers are being more selective with their money, and when they look around there is nothing there to tell them your business exists? What would you be doing right now if you thought your customers were flush with cash?
More Not Less Equals Success
Now’s the time to grab customers and convert them. Make more sales calls, not less. Get more efficient with your advertising, don’t cut it. Invest in yourself so you are serving your customer more effectively. Operate under the assumption that there are still consumers for your products and figure out creative, cost effective, ways to reach them.
That’s right folks; it’s the perfect time to do more. Be as prudent with your capital as your consumers are being with theirs, but find ways to get their attention. Get creative, and quit thinking less is the answer.
Better is the answer.
Adding the most value for the money is the answer. Becoming a lean, mean, lead generating machine is the answer. Creating customer relationships and loyalty is the answer. Getting out there and killing it is the answer.
Considering everyone broke is the problem, and hopefully not part of your solution.
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