Independent Thought

Recession-proofing your business

Hi there!

I am so excited to let you know that I have just launched a new website with information about the services I offer, examples of my work & and the beginnings of a business exchange directory and (soon to be added) a DIY marketing/self promotion resource section with links to tons of great information for you. I'm also launching this newsletter "Independent Thought" which I will be sending out once a month with tips on making your independent business stand out and be a success.

I know everyone is getting nervous about the recent press coverage of the economy and we’re all beginning to feel the pinch, so it's a good time to begin preparing for the changes ahead. Now is the time to be rethinking your marketing strategies and instead of looking at it as a slowdown in consumer spending, see it as an opportunity to explore new creative ways to shake things up and generate new revenue sources. 

I spend a good deal of time on line perusing marketing sites and news lists keeping myself informed of the latest information I can find to use in helping you promote your business and increase your visibility. Today I came across a blog post from author Steven Van Yoder that I felt summed up the situation quite nicely and offered a great “laundry list” of tactics to help you out. You will find the excerpt below along with a link to the author’s blog, it's a little long but full of great information that I hope you will find useful.

ALL ABOUT YOU

You and I know there are a lot of advertisers out there who want your promotional dollars who will promise to “put an ad together for you” and as the market changes, you will probably see them even more often than you do already. Keep in mind these companies don’t always consider your business’ image as their priority or really understand your goals, which may contribute to a sense of money wasted on advertising.

Save yourself money, time and aggravation by having a plan ahead of time—know where your quarterly marketing budget is best spent and have an effective, consistent advertising campaign put together that can be used in any advertising situation. Now is the time to stand out from the crowd with a unique, interesting image and consistent message! As my high school French teacher loved to say, “Répétez.. Répétez.. Répétez.. Encore, s'il vous plait!”

Please keep in touch and let me know how you and your business are doing. If I can help you freshen up your image, create a targeted, aggressive advertising campaign or if you’d like to discuss ways to recession-proof your business, feel free to call or email me any time.

My best to you,

Lia Gallegos
Creative Consultant
Sleepygirl Solutions
727.385.5375
Web & Graphic Design, Marketing & Public Relations
www.sleepygirl.net

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Recession Proof Marketing
12:28 PM PST, February 27, 2008

Whatever you call it—a recession, slowdown, correction or disaster—economic turbulence is part of capitalist society. The economy has always been—and will always be—cyclical. The real mystery is why so many businesses are unprepared when recessions strike.

Making your company recession proof requires a proactive approach. Businesses that prepare for economic slowdowns, and ensure their businesses can adapt and survive in a slowing economy, are likely to do better than those that leave their economic fate to chance.

The economy does not stop creating value during economic downturns. Opportunity still abounds in recessions, but you need to think creatively and look in different places than when the economy is going full-steam.

Market Continuously—Not Just When You Need Business

Your best defense against a recession lies in aggressive, non-stop marketing. This is at the heart of recession-proof businesses and has two parts to it:

• To prevent a lull in business from ever happening in the first place, you market consistently and aggressively all year long, every week--not just when you need the business. No matter how busy or how short of time, you maintain your marketing so that you increase business in the short term while creating opportunities for the future.

• When things are slow, you increase the percentage of time you spend marketing your business. You shift resources toward new business marketing strategies at the first sign of a downturn, rather than waiting in hopes of better times.

An economic downturn is the time to be aggressive in the marketplace. This is not the time to pursuer a false sense of economy by cutting your marketing in an effort to reduce costs. Eliminating waste may make your accountant happy, but abandoning a well-crafted marketing program when business is slow only makes things worse.

By effectively marketing during a recession, while your competition is cutting back, you can capture a larger piece of a shrinking pie. And when the economy turns around, you will find yourself in an incredibly strong position.

Be Well-Informed
The more you know, the more power you have to adapt to changing circumstances. Do you spend a few hours a week browsing the web and reading about your industry? Do you subscribe to and read all of the important publications, newsletters and blogs that reach your target marketplace? Do you join and attend targeted networking functions hosted by your trade association?

If not, then it’s time to start.

-Subscribe to media that update you on business conditions in your industry.- Take advantage of Google News Alerts that deliver breaking news tailored to your specifications right to your desktop.
-Seek out and subscribe to those of your clients, customers and prospects. -Talk to your clients & customers. If things start getting bad for them, they may portend bad news you’re your company. In a down economy, your clients and customers may fret over every dollar spent…possibly what they spend with you.

By knowing what is likely going through your target market’s collective mind, you’ll be in a better position to make changes in your business or communicate your business benefits in a way that keeps them loyal.

Networking & Referrals
There’s an old expression about digging a well before you need the water. In other words, you establish your network before you need it.
One of the best ways to recession-proof your business is to establish and maintain a network of people who know you, like you and trust you—and, ultimately, refer you business.

Target natural business allies. If you focus on “family travel” you could develop relationships with local child care centers, community centers, and private schools. Cultivating a healthy networking “tree” will bear fruit in an economic downturn, just when you’ll need the business.

Form Strategic Partnerships
Partnering makes great business sense—especially in a down economy. Here are a few of the benefits of business partnerships:

• Increase market share & access to new markets
• Access to new technology
• Share marketing and operations expenses
• Improve customer service
• Cost savings
• Increase reach and market clout

The Sonoma Fine Furniture Association (SCFFA) was comprised of eight local furniture retailers, all of them competitors, who banded together to survive the recession of the early 1990s. They embraced cross-promotion and increased their buying strength and marketing reach.

Together, the group bought advertising at local radio stations and newspapers and developed combined events where customers were eligible to win prizes. They even printed a joint brochure that included map locations to each member.

Visibility & Credibility
Millions of businesses vie for attention from an increasingly informed and discriminating marketplace. You can gain an edge over the competition by making yourself known as an expert and thought leader in your field.

You can recession proof your business when you become so well known that when someone in the right circle needs what you offer, your name will either immediately come to mind or should be the first one mentioned when they turn to others to find what they need.

Establishing yourself as an expert distinguishes you in two important ways. First, it lifts you from the ranks of anonymity. Second, your clients will think of you as the unequivocal authority on their needs. Establishing a thought leader reputation lends a powerful edge in a market where consumers think twice before spending their money.

Keep In Touch
Most businesses do not make contact with their clients, customers and business contacts on a regular basis. We’re busy—and we expect that "if my customers were happy with the job I did, they’ll come back". But, you’d be surprised how busy they are too!

Email newsletters and blogs are the simplest, most effective ways of maintaining a relationship with your marketplace. Whatever your keep in touch vehicle, make sure it’s useful. Avoid the same tired topics everyone else is doing and address topics that are meaningful to your target audience. Communicate how your business helps people and position your business in a relevant light.

Stay positive
The most important thing about a slow period is not to get depressed by it. If you are down, prospects can sense your desperation and fear, and it has a negative effect on your dealings with them. Remember that everybody in business has slow times; those who say they don't are lying. The lull is temporary. People WILL call you and hire you again.

Excerpt from Steven Van Yoder "Get Slightly Famous"'s Amazon Blog
http://www.amazon.com/gp/blog/A3BIKBXGPM83RJ/ref=cm_blog_blog