April 8, 2010

Simple Marketing Techniques to Increase Your Sales in Today’s Economy

BY John Paul Narowski IN Sales and Marketing 0 Comment

It’s not looking good out there…Credit is frozen, consumer purchasing power is in decline, in the last four months the country has lost 2 million jobs with more layoffs projected in 2010. The economy is stuttering.  However, you’re not doomed.  If you are smart and you read carefully, we can teach you easy techniques and strategies to strengthen your business and increase your sales.

New Season, New Opportunities

Summer is around the corner and business is moving once again.  Businesses from every industry are amping up their marketing and promotion efforts.  What can you do to strengthen your business and improve your sales? What strategies and techniques will help your business sales grow and put you on a positive road for the rest of 2010?

Techniques to Find New Sales

  1. What are your customers thinking?  What do they really want from you? Are you selling the right type of products or providing the right type of services?  Two years ago your game plan might of worked fine, but now with the changes in the economy, you may have to change things up a bit.  What are customers asking for?  What does your target market need from you that you are not providing or better yet, “How can you change your marketing to better relate to your customers?”  You need to be on the same page as your consumers.  People’s priorities have changed in the last couple of years.  A lack of funds and some hardships can change a lot in a person’s life including their interests, spending habits and lifestyle.  What may have appealed to them previously may not be the case anymore.
  2. Has your targeted market changed as the economy took a turn for the worst?
    Who is your targeted market?  Are you drawing in the same crowd or has your market (customers) changed?
  3. Take some time out to evaluate your clientele – Areas in which they live, income status, ethnic background, and so forth… Your audience may have withered a bit, and now you may need to market to a different demographic.  Is your present approach appropriate in today’s economy?  Your re-evaluation of who your main customers are will help you recognize what steps you need to take to promote your business and increase your sales
  4. You do not have to spend a lot to make a lot. It is not necessary to spend a fortune for advertising.  Remember the best and most effective type of advertising is word of mouth. Build solid relationships and they will payoff over time.
  5. Social Networking is the new wave of advertising in today’s business world. Social network marketing is one of the best ways to advertise your skills and ability especially when the economy is weak. Unemployment is up and everyone and their mother are searching the internet for a good deal.  Many entrepreneurs are trying to start a successful online business and they all rely on social networks to get the word out. Even during political elections, politicians market on social networks because they know the strong influences that such a strategy has on an individuals. It is obvious that people feel a strong need to ‘connect’ and network to other individuals.

In addition, social networking  gives people a better feel about the company they want to do business with. When companies use social media platforms effectively, customers can see the “essence” of a brand and are more likely to trust the organization when approaching them for a service.  You need to periodically update when you social network but it’s well worth it. People find out about new businesses and products each day from social networking.  Don’t miss out on a good thing – become a part of it while its hot!

Be Smart, Be Positive

Although the economic impact of the global recession has changed people’s spending habits, you can still increase your sales if you understand who your customers are and what they need from you.  This information will help you create promotions that will benefit both you and your customers.  In the end, if you sell the right products to your market, plan your promotions wisely and advertise sensibly, you should see sales start to grow in no time!

I’ve been hacking at various business ideas since I was 16. I’m a full stack developer and love crafting user experiences. I’ve been nose deep in code since I put the legos down, and built several successful businesses in the process. I’ve lost some hair, gained some experience and throughly enjoyed the journey.

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