The news seems to be dominated by the doom and gloom of the downturn and recession, and few of us can be in any doubt that 2009 is going to be tough for many sectors of business. We must refocus our efforts and resources and adapt our business if we are to survive and thrive the downturn.
Having started our own business in a recession, we have experienced the difficult times and learnt how to trade our way out. You have two choices.
If you listen to some ‘experts’ they will tell you to batten down the hatches and sit out the storm.
Alternatively you can make the decision to improve your marketing and communications. A recession should be seen as a time of opportunity that will favour those who are courageous and adaptable and many believe the coming year will see the survival of the fittest.
We believe the best time to increase awareness of your products and services are when your competitors have gone quiet and are contemplating their navel. It makes it much easier to maintain and grow brand awareness. And doing this is not about having a large marketing budget.
The businesses that make a conscious decision to keep on communicating with their customers will benefit. Brands and businesses will be sustained by continued focus on customers and putting them at the centre. This is an opportunity to review and reinvent your brand, products and services. Look at brands that have disappeared and in many cases they have not embraced new ways of doing business and changing to meet the customers needs.
There will be a change in the customers attitudes and approach, whether business to business or business to consumer, with many tightening their belts and with value for money being a key theme for the year. Customers are nervous about commitment and will be more likely to trust those they know.
The Internet is changing the way we do business and the way we personally shop and buy things. The website has now become the most important marketing tool as a channel for information, communication, and distribution with our customers. It is also the most cost effective marketing medium that is dynamic, easily maintained and updated.
However, is your website working hard enough for you and giving you the maximum return for your marketing pound?
According to new research by the Federation of Small Businesses (FSB), small firms that regularly use the internet to promote their business stand a much better chance of beating the economic downturn. In the organisation’s biennial survey of its 8,700 members, 43% of respondents saw turnover increase by one fifth after using their website to advertise their business. This not only applies to small businesses but all businesses. This is proven by the dramatically changing retail landscape.
A spokesman for the FSB urged more firms to recognise the benefits of going online and despite the onset of an economic downturn, all small firms should look to the internet to maximise their sales and increase efficiency.
Dr Gary Packham, Head of Enterprise at the University of Glamorgan, where the report was compiled, claimed the results ‘show the very clear link between new technologies and business growth.’
This is also the time to review the positioning and presentation of your brand and services to ensure that it is communicating with and meeting the changing needs of your customers and the market place. It is about making sure your brand is visible, communicating the key messages and raising awareness.
All of this sends out positive signals of a successful business instilling confidence and reliability with your customers.
Give us a call to find out more and discuss the opportunities for your business. It costs nothing to talk.