In harder economic times a business owner must look for more ways to reach more customers, since fewer people are buying and those that are expect discounts and are buying less. This dilemma makes life tough as less revenue is coming in, yet more marketing is needed. Advertising, branding, promotions, well all that costs lots of money; money that may not be in the budget as the company works to keep its head above water and its profits out of the red.
So, what is the answer to this challenge, as failure is not an option and making a mistake is unacceptable, indeed, it might cause the firm to go into bankruptcy. Well, these are all the problems we face, and thus, a solution is needed and in a hurry. Well, let me make a suggestion to you.
Find other companies that are non-competitive and create alliances by sharing customer bases and bundle services. For instance, a flower shop might bundle with a restaurant putting gift certificates in gift baskets. An air-conditioning company might give out discount coupons for appliances. An automotive maintenance company, might give out coupons to the carwash. This works very well, and if you find a company that can give a reciprocal coupon, it works even better.
Pool cleaners can share lists with landscapers, bricklayers with wood deck builders or cleaners. The sky is the limit and it takes a little thought, but it is definitely a way to bring in more business, network in the community and increase sales and hopefully prices. I’ve been doing this for decades, and always made money during the recession periods. Think on this.