Business Survival in Slow Economic Times
By Buffie Baril, Internet Marketing Coordinator, Nashville Wraps.
For many businesses, as soon as the economic outlook turns downward so does their spending on marketing and advertising. But fear is not a smart way to run your business.
“Times of economic recession are not the time to cut back on marketing,” comments Robby Meadows, Director of Marketing for Nashville Wraps. ”In fact, in these times, it requires more.”
There are great ways to invest in your business so you can reap big rewards in the long run and stay ahead of your competition.
1. Join the World Wide Web. In the past decade, consumers have changed the way they shop. Search is the #1 method of finding websites. In 2007, the US internet audience increased 5% to (183.6 Million). Search increased 15% to 9.6 billion, and Google increased 30% to 5.6 billion.
Because of the internet, savvy shoppers like to research products or services before they buy. Ultimately, they may purchase on-line or buy the product at the store. Either way, your business needs a website. Even with a simple website, customers can learn about you, your products and your services. They need to see your products, prices, e-mail address and directions to your store. Your website should have great pictures showcasing your products, interesting text, and easy-to-use navigation.
A great website will expand your business beyond your block and into the world. It doesn’t have to cost a fortune, and there are many do-it-yourself designs available online with affordable hosting.
2. Have a Shop That Pops. “This year more than ever retailers need to be at the top of their game,” says Pam Danziger, President of Unity Marketing. ”With shoppers super-cautious about their spending, retailers need to give them a reason to come shopping – but shopping alone can’t be the reason. They need to draw them into the store by offering an experience that makes shopping there fun, engaging and entertaining.”
In Danziger’s latest book Shopping: Why We Love It and How Retailers Can Create the Ultimate Customer Experience, retailers can learn the seven factors that extraordinary stores share. It explains how retailers can survive in a slow market by making the shopping experience special for their customers.
3. Choose Custom Printed Packaging. Don’t think of custom printing only as an expense. It’s an advertising investment. Nashville Wraps custom prints shopping bags, boxes, ribbon and labels. Personalizing your packaging is a great way to brand your business and reflect your image. Whether shoppers are carrying around your custom printed bag, or giving a gift with your label on it, you are opening the door for new business.
4. Find Unique Ways to Advertise. Newspaper and yellow page ads may work for your business, but look beyond traditional ways of advertising. Maintain a customer list including their e-mail addresses. Ask your customers if they would like to receive promotions or specials from you. Constant Contact is one of the best products on the market for you to easily create a monthly e-mail newsletter and track the results. Customers can unsubscribe if they so desire, but the best part is you target your market at a very low cost. And better yet, these customers may forward your e-mail to their friends and potential new customers at no cost to you.
Sure, most of us in business are competitive, and we want to be the best and stay on top of our competition. However, it doesn’t matter if sales are up or down, because the only true question in all of business remains – “Are you excellent?” Excellence transcends the economy and the competition. When you are excellent, your customers will seek you out, and they will tell their friends.
Buffie Baril
Internet Marketing Coordinator
To contact me just leave a comment to this post.
{ 21 comments… read them below or add one }
Excellent and informative blog entry. I couldn’t agree more.
I agree making shoping an enjoyable experience for your customers is very important, especially in my line of business.
Hi, I believe in your suggestions.As a business owner in a town of 22 Hair salons,it is important to be the first to open and the last to close.Use advertising that POPS. Hand out cards with $$ incentives for clients to bring new clients. I now have a retro shop within my hair salon.I have a captive audience,and a draw for getting them in the door. And of course I use GREAT bags and COOL tissue paper to package products. Rock on!
More like that! Great information.
I know your focus is packaging, but I also know you have a much larger staff (with specialized training, education and backgrounds) with more resources than my small business. Thanks for sharing. It’s like expanding my staff without having to make payroll!
Thanks for sharing your ideas! I’ve written down at least TWO which I’m going to look into implementing!
Great suggestions! We own a small tanning salon. All of my new clients get a “goodie” bag with a lotion packet, stickers, customer referral cards, etc. It feels great when I see my customers coming back with their little bag carrying all of the necessary tanning supplies. When the referrals come in they always smile and say “This is the famous goodie bag!”
Thank you for your encouragement! I actually have a wine tasting event coming up this Spring, just before Mother’s Day. I believe in entertaining my guests as well. I am fortunate to have a professional, fun and friendly staff. Let’s all hang in there!
Thank you for taking care of the small businesses too.
I have just opened an independent living home for senior ladies, Camellia Cottage. You have given me some great food for thought and some new ideas for our afternoon teas.
This is the first newsletter I have received from you and I think it is great. I totally agree with the contact. I have been building a data base, but just started asking for email addresses. I give the customer a $5.00 gift certificate to use for their next visit if they will complete the form giving me their email address. I then have the email address for contact and they will come back with the gift certificate and usually spend more. I look forward to your next newsletter.
My husband and I own a small business tree farm and nursery, and Mother’s Day will be the first season for introducing Gift Baskets I have made. I am excited and nervous at the same time. I will also be adding a gift certificate to my gift baskets that will include the tree farm as well, similar to what Judy B. has implemented. I believe it is a wonderful marketing idea. Thank you for the news letter which helps small business owners.
I recently read a book titled,”How To Hug Your Customer.” Even small businesses can out perform chain stores. Treating clients like family, keeping track of their likes/dislikes in their purchases, remembering their birthday so you can send them a card with a promotional offer, etc… The techniques are simple enough and worth considering. If we treat clients like family (in a good way), then they wil always return!
Thanks for the encouragment with your news letter. I own a gift shop with very nice items. But, times are slowing down with the price of living going up at this time. I do plan on putting a few of your thoughts to action.
Customer Service!! I don’t know how many times I have gone into a major specialty retailers and have not been acknowledged. Sales associates are chatting among themselves and after several minutes walking around the store, I have walked out–a missed sale. In tough economic times, excellent customer service is paramount in making you stand out. If a customer has a bad experience, they will tell everyone
I want to thank you for sharing the newsletter. I just opened my dream of a humorous art gallery in Breckenridge, CO. The suggestions are very helpful and I plan on implementing many of them. Thanks again
I just received the email with great information
for the small business owner. It is nice to know that there are large companies who do truly care about small businesses. It’s encouraging. I am going to use some of the ideas and insights this year to promote my little gift shop better. Thank you.
I agree!
I have many customers coming back just because of our choice of bags!!! They love them!
I have started using the plain T-sacks to conserve a little when packing up Webkinz etc. but for the most part we go all out with tissue and bows to treat our customers!!!
Great advise and thanks for providing the sites as examples.
Right on! At Two Friends our motto is “Scatter Joy!” We love it when customers tell us they come in because it makes them feel “good to walk around our store.” Our next step in marketing is to “Blog!”
This is by far, your best newsletter yet! I do my business 90% online and my customer data base is my most important asset. I like to send out newsletters monthly and to give the best customer service that I myself, can possibly give. Each customer receives a goody bag with free promotional items with every order. Perfection is impossible, but to strive for excellence is the best anyone can do.
Thanks for remembering us “little guys”!
great ideas……thank you ..
Nice Ideas. Useful tips. Thanks a lot
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