By reacting positively, your business may not only improve today, it will also have a head start on tomorrow. These steps assume you can get an early indication on how to reposition your business in a changing marketplace. Some Proactive Measures Here are some proactive measures to integrate into your three plans.
Increase your targeted advertising. You can probably get good advertising deals in a slow economic period, so here is your opportunity to increase market penetration. Challenge your staff to find and use low-cost, no-cost marketing methods. Don’t let anyone forget that the digital age is here. Press for effective and creative uses of all marketing channels with an emphasis of “online” activities. This effort toward on-line sales and the resulting changes may become big parts of any corporate repositioning you might undertake as you develop your longer-term marketing plans. Emphasize service and quality.
In your advertising and in your marketing across the board, remember that the key to survival for many small and mid-sized businesses is service. By emphasizing quality and service, your business will not only survive in a recession, but will boom in the good times as well. Hire if you need to. If you need a crackerjack salesperson or another key employee, do not be reluctant to hire one now.