3 Steps To Success In A Slowing Economy

You've most likely heard of the three things a business needs to be successful – location, location and location. However, during challenging economic times there is something else that is just as important – marketing, marketing and marketing.

When times get tough, it's more important than ever to generate awareness of your business. When times are good, the work never seems to stop and extra effort in marketing doesn't seem necessary. But in a sluggish market, those who successfully market their businesses will continue to attract customers while their competitors are slashing their marketing budgets and falling behind.

Here are a few basic tips to boost your marketing efforts without busting your budget:
1) Get Back To Basics – Now is the time to continue the successful marketing strategies that have worked in the past. 
2) Focus On Your Best Products/Services – Remember the 80/20 rule: 80% of profit comes from 20% of your products and/or services. Drop the ones that aren't producing and focus on the ones that are.
3) Focus On Service and Information – Customers are going to spend their dollars with those companies that provide good service and readily available information about the products and services they provide.

Don't let the economy slow your business down – speed it up with marketing, marketing and marketing.

Your Best Marketing Tool

The business card is one of the most recognized and widely used marketing tools. However, it is also the most under utilized. While networking, you should always have a stack on hand. This is the best way to get your contact information into the hands of those who potentially want to use your products or services. Sounds simple enough, but I’m sure we’ve all had the experience of digging around in our pockets looking for a business card only to end up writing our contact information on a napkin.

There are countless design configurations for a successful business card, but the basic rule is to make sure that your contact information is easy to read and easy to find. Your business card is the first glimpse many will have of your company’s brand and it’s important that your card represents your image well.

As your company’s staff grows, every person who hands out a business cards is further expanding your brand awareness. This seemingly insignificant two-inch by three-and-a-half-inch card can play a major role in helping your business becomes a recognized brand.