How Is The Economy Affecting Your Bottom Line?

[Chris Toombes]

Is it getting harder to make sales and keep up the clients? Are you focusing on reaching more people or are you trying harder with following up with the clients you have? Or, are you trying to diversify and offer more products or services?

[Elfie Hayes]

Aside from doing the best possible job for your clients, I believe that the key element in an economic downturn it to keep up and even increase your marketing budget. It's a fact that if you stay highly visible when others pull back on advertising you will be seen as a strong business and you will certainly benefit from staying top of mind.

Look at what your competition is doing. Many of them seem to have disappeared. Ramp up your marketing and you'll see more sales.

In my own industry many Mortgage Brokers were able to do well when we were in the hottest Real Estate market in decades. Now that it's necessary to go after new business, some don't even have websites. Most don't advertise at all. Little wonder they're finding it impossible to earn enough to stay in business.

Now is the best time to join more groups such as this and connect or re-connect with as many new people as possible. Social Marketing takes time, but then so do most worthwhile endeavors.

Thank you for providing me another great place to share my ideas with like minded people!
Elfie Hayes

[Nadine Lewis]

We are currently based in the UK, hopefully expanding into the Canadian marketplace this year. We are being very badly affected by the currency fluctuations. We mainly buy in US$. Last year we were purchasing at $2.08 for every GBP but last week we hit a record low by getting just $1.33. This has had a huge impact on profit margins. It is a real shame as the rest of the business is still experiencing growth but without the profit, it makes life very difficult and it is something that is completely out of our control.

[Jason Reynolds]

I believe the only thing that needs to be done in these times is to pay extra attention to your current clients' needs.

The one thing I have found different about these times is that NOW is the time to really show your clients and prospects what you can do for them, as they need a little extra hand holding right now. If you can prove to be helpful in times when people need you the most, then your business will prosper for a very long time.

I have been applying this theory for the last 2 months, and I have been almost too busy...but no complaining that's for sure.

[Martha Stanton-Smith]

I feel the economy could be helping my bottom line as a home stager. Staging a home before sale is like insurance to make sure you get the best results possible i.e. sell as fast as possible and make the top price possible. People still have to move, but present fear of falling house prices and slowing sales has made them look for ways to make sure they don't take a hit on sale of the asset which for many is their largest single one. They are doing their homework and finding staging is a tried and true technique and a wise investment in any market. I'm busier than ever.

[Chris Toombes]

Thanks for your input Eddie and as a publisher myself I have to agree. Maybe more publishers also need to adopt the virtual model like we have both for cost savings and for environmental reasons

Eddie Clarke said:

We are finding more and more publishers are beginning to realise that licensing a magazine or content for a magazine is the right option for them. It enables them to keep going when times are hard and come out the other end with confidence.
Brucesawfordlicensing.com

[Eddie Clarke]

We are finding more and more publishers are beginning to realise that licensing a magazine or content for a magazine is the right option for them. It enables them to keep going when times are hard and come out the other end with confidence.

Brucesawfordlicensing.com

[Sandi Ashby]

Now, more than ever, is the time to "keep up with clients". Our existing client base is our best source of potential revenue. They are also our number one source for referrals, i.e. new business. Most businesses do not have a system in place to maintain contact throughout the year with their clients. Sending out your flyer or an email blast with your monthly specials is not "keeping in contact". What are you actively doing to nurture your long term relationships with people? Do your clients REALLY feel like they're important to you? Do you show them appreciation on a regular basis? Have you given them any reason to choose you over your competition? Good service is not enough. That is already EXPECTED. You need to go beyond what is expected. Make your clients feel valued and important ... even when they AREN'T in buying mode.

If someone says or does something that makes you feel like a million bucks, don't you feel like doing something nice right back? Your clients are no different. Treat each one like they're your number one client, and a flood of new business will be coming your way. The problem is that most business owners and professionals don't have an easy , consistent, cost effective way to do this. Many folks are not comfortable with the more personal side of business, and yet that is truly where your future success lies.

I have a great solution that makes keeping in touch and showing appreciation for the long term, simple, effective, even fun! I'll even give you a 7 day free trial of this service. I look forward to being able to help you grow your business.