A lot of people are worried about their small businesses. They see the large corporations that have shut down and wonder if their business is next. But don't worry! Your small business can survive this recession and even thrive during it. There are many ways to find success when times are tough, and we're going to talk about them today:
Create A Marketing Plan
A marketing plan is a roadmap that helps you reach your business goals. Having a marketing strategy in place will allow your business to remain afloat during the recession. It's important to know what your goal is before you can create the plan to achieve it. To create a successful marketing plan, you must know who your target audience is. Here are some questions to ask yourself so you can define your target audience:
Who are they?
What do they need?
What does their pain point look like? How would I describe it to someone else who didn't know about my industry or product/service?
What does their interest look like in terms of questions, content, and more.
Establish a Compelling Brand Identity
Your brand identity is the personality of your business. It’s how you communicate with your customers and how you differentiate yourself from your competitors. In other words, it's what makes people want to do business with you and not someone else.
Your company's identity should be clearly defined so that it can be consistently communicated across all marketing platforms. This means that the way you provide customer service online is exactly like the way you provide customer service over the phone or in person (if this isn't already the case). If a potential customer visits one of your brick-and-mortar locations and receives great service from one salesperson, they should expect similar treatment if they visit another location or call for assistance on a different day.
A strong brand identity reduces customer confusion about who does what within an organization and also serves as an extension of personal brands for employees at every level within a company structure—from front line workers all the way up through executive management teams."
Prioritize Customer Service
The best way to stay ahead of the competition is to make sure that your customers are getting what they want, when they want it. This means that you need to be able to answer their questions (and solve their problems) quickly and confidently.
It may seem counterintuitive at first, but keeping up with customer service can actually help your business even more during a recession. As long as you’re ready for customers and get back to them quickly, they’re likely going to stick around because they already like, know, and trust your business. If you need assistance with customer service, contact Soulful Media Marketing.
Build an Online Presence
When it comes to making your small business recession-proof, there's no better way than building an online presence.
A website is a must for any business, but it can be especially helpful during hard times. You should consider including these features on your site:
A blog that provides useful information and/or guidance for visitors(like this one)
Social media accounts where you can interact with other businesses and customers regularly
An email list that lets people sign up for notifications about what's new in the company or industry
There are also some tactics you can use specifically during recessions:
Use landing pages to drive traffic to sites offering discounts or coupons when they're needed most (i.e., during slow periods). This will help boost sales while also generating more interest in your brand overall.
Stay Focused on Growth
The best way to weather the economic downturn is to stay focused on growth. This involves staying focused on the future, the long-term and what’s important in this business. It means focusing on your strengths, your passion and what you do best.
In other words, it means staying focused on yourself!
Small Business Administration (SBA)
The Small Business Administration (SBA) is the government's primary resource for small business owners and aspiring entrepreneurs who want to start or expand their businesses. The website has information about starting a business, securing financing, finding an investor, exporting your products overseas and much more. Check it out to learn more about the resources SBA has to offer!
SBA.gov - Small Business Administration (SBA) (https://www.sba.gov/)
If you’re a small business owner, these steps can help you make your company recession-proof. SBA.gov is a great resource for entrepreneurs who want to start or grow their business. We hope these tips have helped you get started on the right path! Contact Soulful Media Marketing for a free Discovery call!