SubscribeManaging Downturn - Cont'd.
Oct 28, 2008
Over the past few weeks I've seen an increase in marketing outreach by a lot of small businesses. I've received quite a few cold calls and introductory e-mails. It made me curious as to what strategies and tactics are being applied and how small businesses are managing the downturn. I decided to ask.
So I turned to my LinkedIn network to see what they had to say. I'm sharing some of their responses so you can see what your small business peers are doing. Hopefully it will help you in strategizing for your own business.
The original article, "How Are You Managing the Economic Downturn?", contains the early responses.
I invite you to add your strategies and comments on the topic.
Following are responses that came in after the article was written. .
Annette Shandelow-Hassell, Annette@tbaofficesupport.com. When I developed the business, my goal was to retain clients who were wealthy and successful. Over the last couple of years, I culled out the difficult and late-paying people. I kept the clients who could afford to pay me and would pay me within 30 days of billing.
That worked well until this summer, when my biggest client closed his doors. The other clients would hire me on an as-needed basis, but this is not enough for me to work full time in my business.
Besides networking in new groups, I am also looking for a permanent part-time position. Should a good full-time position be available, I'll even take that.
Pattie Simone, www.womencentric.org, If someone is buying what you are selling, you're halfway there. So how can a hard working cash-strapped business owner get where they want to go?? Well first, they need to understand we are not in Kansas anymore. The entire marketing model has changed. Now more than ever it's time to adapt, to test, and to leverage, especially in the online space. Next - they need to be an active visionary. That means updating infrastructure, including internal systems, hardware, and software, and getting great help as needed.
So don't wait around. Take a critical look at what your clients want and deliver it.
Second - get an "inbound marketing mindset." Per Seth Godin, a global marketing guru, it's no longer about how much you are shouting (via various traditional advertising mediums) at people, but more about how you can make your firm
(product/service) remarkable. The trick today is to get people buzzing about you, especially online.
So I'm taking my own advice. I'm blogging, submitting articles, and seeking new online portals where I can post my unique take on smart & thrifty marketing. I'm interacting with new folks, asking advice and strategically broadening my resource base. I'm also eating my own cooking and testing various online social community portals, as well as hiring a VA to manage my admin tasks.
Action, involvement, sharing great data and resources has already begun to work as one amazing sales engine!
Other responses:
There is definitely a spending freeze at some companies. So, in terms of prospecting, there is a push for companies like mine to find those who are trying to push forward in this market instead of backing away from marketing
So I turned to my LinkedIn network to see what they had to say. I'm sharing some of their responses so you can see what your small business peers are doing. Hopefully it will help you in strategizing for your own business.
The original article, "How Are You Managing the Economic Downturn?", contains the early responses.
I invite you to add your strategies and comments on the topic.
Following are responses that came in after the article was written. .
Annette Shandelow-Hassell, Annette@tbaofficesupport.com. When I developed the business, my goal was to retain clients who were wealthy and successful. Over the last couple of years, I culled out the difficult and late-paying people. I kept the clients who could afford to pay me and would pay me within 30 days of billing.
That worked well until this summer, when my biggest client closed his doors. The other clients would hire me on an as-needed basis, but this is not enough for me to work full time in my business.
Besides networking in new groups, I am also looking for a permanent part-time position. Should a good full-time position be available, I'll even take that.
Pattie Simone, www.womencentric.org, If someone is buying what you are selling, you're halfway there. So how can a hard working cash-strapped business owner get where they want to go?? Well first, they need to understand we are not in Kansas anymore. The entire marketing model has changed. Now more than ever it's time to adapt, to test, and to leverage, especially in the online space. Next - they need to be an active visionary. That means updating infrastructure, including internal systems, hardware, and software, and getting great help as needed.
So don't wait around. Take a critical look at what your clients want and deliver it.
Second - get an "inbound marketing mindset." Per Seth Godin, a global marketing guru, it's no longer about how much you are shouting (via various traditional advertising mediums) at people, but more about how you can make your firm
(product/service) remarkable. The trick today is to get people buzzing about you, especially online.
So I'm taking my own advice. I'm blogging, submitting articles, and seeking new online portals where I can post my unique take on smart & thrifty marketing. I'm interacting with new folks, asking advice and strategically broadening my resource base. I'm also eating my own cooking and testing various online social community portals, as well as hiring a VA to manage my admin tasks.
Action, involvement, sharing great data and resources has already begun to work as one amazing sales engine!
Other responses:
There is definitely a spending freeze at some companies. So, in terms of prospecting, there is a push for companies like mine to find those who are trying to push forward in this market instead of backing away from marketing