Sales in Tough Times

Many clients I consult with have been experiencing weak sales. Some of these clients are in, or sell to, the construction industry which right now is very soft. Their experience has caused me to reflect on what businesses should do to increase sales when times are tough.

A knee-jerk reaction has been to cut back expenses in all areas of the business – including sales and marketing. While expenses need to be controlled, tough times are not when marketing or sales budgets should be trimmed. If anything, they should be increased.

This is the perfect time to update (or create) a marketing plan to assure that money spent on marketing is effectively and appropriately spent. Spend time and money on sales and marketing activities that provide maximum return. The marketing plan should include ways of measuring the results of all sales activities.

This is a time to recognize how precious each customer is. Spend time with each customer. Make sure you understand their needs. Give them excellent customer service.

This is a time to revisit prospects you have previously lost to competition. Learn why they went with competition and if there is any way you can win them back. Know that since you last talked with these prospects, some of your competitors may have disappeared or changed focus.

Any business can thrive and grow, even in tough times.

Will Limkemann
Limkemann Business Advisors
440-871-0976
www.neobizadvisor.com
will@limkemann.net