Now is the time to stop chasing clients/customers who are not in a position to place contracts or orders with us. Times are tough and could get even tougher as the global economic downturn continues. Consumers have their wallets tightly shut. What we should be doing is more marketing. Yes you heard that right. Its not a time to cut marketing budgets or downsize marketing departments. Now is the time to invest in more marketing in terms of segmentation and research. Not for now, but in the future when things start to pick up, as they inevitably will. What will our market space look like then? Who will have gone under and who will be the survivors? Will we be in a position to offer what the market will be demanding by then in terms of services or product or both? Will we have the appropriate people with the right training and technology to deliver what clients will be looking for?
And what about now? Some of our clients are still placing orders. They should be the focus of our efforts. Let us make sure we know as much about them as possible. Can we sell more of our services/products to them? We need intensive relationship building, all the corporate hospitality we can muster. A charm offensive the like we have never seen before! After-all, these people and organisations are our best ‘marketers’. They will go around talking about us to their “friends” and will help promote us without a cent of our hard-earned profits being spent on so-called traditional advertising.
Now is the right time to bring our business organisations together. People are in fear for their jobs and livelihoods. Now is the time to unite and pull together in one big marketing effort focused on more than just survival, but on building the brand strategy for the future. And this means focusing on our most important clients/customers, not chasing after those elusive big spending clients that don’t exist right now.