Tips & Tricks

How to survive a quiet market

Quiet Economy 2015

It is easy to get caught up in the hype surrounding the current market conditions. With predictions of doom and gloom for some time to come, it can be hard to see a silver lining in all this talk of downward projections. The truth is however, that there are ways to hold steady and even thrive during market low points. If you have a business that you are responsible for and employees who need to be paid, then what are you doing to ensure that this happens?

I can remember having a chat with one of my clients at SFDesign a few years back when his industry went quiet and he was telling me they were really busy. I was shocked that he was doing so much business, and I started asking him why his business was bucking the trend. The first thing I asked was whether or not his products were better than the competition? He came back with a solid no. I asked him if he was somehow producing everything cheaper? and again I received a no. Perplexed, I finally asked what the secret to his success was? What he told me changed how I saw business and is also your answer to keeping your business afloat in a the quiet seas of a still market.

Recognising that the market was going quiet, my friend and his dad who run the business decided to hire 3 salesmen and begin on their largest marketing campaign to date. True there were less people interested in what he was selling, however, every person that needed what he sold, knew that he was providing it. In any market there are winners and losers. Winners will continue to expand their business even during a quiet market. Let’s take a look at three things you can do to jump-start your marketing and get your business on track even in the most hostile of marketplaces.

WordPress

Simply put, the future of marketing is social media. In the past few decades, the nature of how people find information on what they want to buy has shifted from direct advertising to references from social networks. Now, in order to be the person everyone turns to, you have to be the person that people know about. While marketing has always been a popularity contest, it has never been more important to be the first name that people think about when they consider your product.

WordPress is an interesting way to expand your marketing online while being either free or costing you very little depending on your marketing campaign. WordPress allows for the construction of good looking and professional websites through their easy-to-use online tools. Responsible for both the back and front end support through their website directly, you can save big on maintenance costs and instead focus your effort on getting your message out there. When linked to social media websites like Facebook, Pinterest, and Instagram, you can get the word out there more effectively regarding your product.

Get Infusionsoft

From personal experience, I cannot stress how important Infusionsoft can be for small business CRM and marketing online. Having helped to revolutionise how I approach business, Infusionsoft is the perfect blend of simplicity and power. Growing as my businesses grow, Infusionsoft comes with a simple and straightforward set up that gradually grows in complexity as your needs expand. While there are countless other options out there, I have performed extensive research on most of them and have yet to find a small business CRM that can do what Infusionsoft has already proven possible.

Know your audience

Knowing your audience has never been more important. When it comes to marketing, changes in social media and how we communicate have rewritten the rules on what works and what does not. Because much more of business now comes from social references, it can be incredibly advantageous for your business to focus on direct marketing campaigns. As a part of your marketing budget, research what your ideal customer is and create a model of behaviours and habits around this individual. Look at purchasing data that you have gathered either through your online store or at your physical location and check to see if there are any purchasing trends. From here, you can begin to construct a model regarding who will purchase your goods. Following that, you can look for where these people congregate online or in person, and spend your marketing campaign targeting them directly. While less people in general may read your message, more of those who see it will pay attention to it and respond. While marketing online is constantly changing, building up a relationship with the person buying means knowing what they want, what they are looking for, and how you can help them.