A Marketing Game Plan Stacks The Odds In Your Favour, So Your Business Will Survive This Economic Tsunami!
For last decade business was booming, companies were making truckloads of money. Now a large number are starving. For years, EVERYONE was MAKING SO MONEY. Now everyone is talking panic because all the sales have dried up.
Businesses have been bludgeoned with bad news. Soaring unemployment, plunging Stock Market disappearing liquidity; War on Terror; Consumer confidence at all time low.
Your business probably fits into one of these categories:
- An economic turndown has really hurt your business. Things are slowing & Cashflow is drying up. You have to generate more business, and soon or face serious consequences.
- You’re doing okay, but many businesses are not. Whether it’s a soft economy or a decline in your particular industry, your colleagues are hurting. And while you’re doing okay now, the question “will we be next?” keeps you up at night.
- Things are going great for you. But you know the economy is cyclical, and every business and industry has ups and downs. You want to put strategies into place that ensures your business continues to be profitable in both good times and bad… ride out any weakness in the future
The bottom-line for business is money. You want to increase your revenues and profits.
What do the odds look like for your business surviving this Economic Meltdown?
I just finished reading Jump Start Your Business Brain by Doug Hall
He quotes some staggering figures
Looking at these numbers at face value, you’re better off heading to the Crown Casino. So if you own a business, your odds of succeeding in Las Vegas seem higher, unless you’re playing the Pokies.
I don’t know about you, but the last place I’d be heading for is Crown Casino. Even though I’m sure, James Packer could use the money.
We know 80 to 90 percent of new businesses fail in the first three years due to a variety of factors. One of those factors is marketing incompetence.
A sad fact, most small to medium businesses don’t even have a Marketing Game Plan.
I’ve been to plenty of seminars, lately promoted to help, recession proof small businesses.
Their number 1 idea – Cut your costs.
That’s a good place to start, reducing your overheads, will help.
The bean counters love the slash and burn concept.
Once they prune the stationary orders and get rid of deadwood.
There looking for more bloodletting.
There next clueless actions usually, start the process of business suicide.
They slash the marketing budget.
The only way businesses will survive the looming economic meltdown. Is to get more Business.
- Get more customers
- Get them to spend more and
- Get them to spend more often
“Dig the well before you thirst.”
Why You Should Concentrate on Marketing Because…
- The Winner takes all in this global economy
- It’s the key to survival and growth
- There an opportunity to share market share
- Leverage – Fixed Cost – Leveraged Returns
- Your competition going down the slash and burn path or their asleep at the wheel
Has Greatest impact of Bottom Line Improvement
- Cost Cutting 1% – 20%
- Productivity 5% – 20%
- Automation/Technology 10% – 50%
- Marketing 50% – 5000%
You have a choice, continue doing what you’re doing today and struggle as you wait for the “good old days” to return. It’s just short of suicidal madness.
Get Proactive and start marketing to your clients. If you’re not, then your competition probably trying to entice away.
“Because its purpose is to create a customer, the business has TWO – and only two – functions… Marketing and innovation produce results, all the rest are cost.” Peter Drucker
You can usually head off an oncoming slump with effective promotion and marketing strategies.
So how you do this marketing thingy?
I’m astounded at what I discovered talking to small business because 92% of them don’t have a Marketing Game Plan.
Yet if you asked them. “Do you have a game plan for coaching their kids’ sports team?” They’re boasting of their detailed plan to beat their opponents.