Are you taking for granted that your normal business processes are effective?
Sure, you may need to advertise or prospect more than usual during these tough economic times, but what else are you doing? Is it possible that the future will come and you will find that you’ve lost business to competitors who have focused on adding value, versus reaching more prospects?
Here are three essential practices for adding value for your customers during tough times:
- Stay close to your existing customers- While this habit is always important, it is even more so during tough times. Not only can you help them by adding value during difficult times, but that assistance gains you more loyalty at a time when your clients may be forced to re-examine everything. You may not get new business in the short term from these efforts, but it may keep you from replacing lost business in the future. The long term effect of this renewed focus may very well be eventual business growth within existing accounts.
- Work your relationships — People still buy from people. The tighter things become, the more importance placed on every purchasing decision. When you can’t afford to make a mistake, buying from someone you trust is even more of a must. These are the times to work your personal relationships and business networks harder than ever. Networking into an opportunity as someone who can be trusted may be the edge you need in earning new business.
- Focus on the positive- It is easy to become discouraged, especially when trying to sell and serve customers through tough times. Keep focused on the fact that not every company out there is just trying to hold on. There are many companies, just like yours, which are committed to growing while others are wringing their hands. Go find them!
If your company needs ideas or advice on how to add value for your customers, please contact The Farst Group. We’ll be sure that your business thrives through tough times and beyond!