United States of America (Press Release
) November 10, 2008 -- There is real fear in today's marketplace - do you feel it? Fear of the unknown, fear about jobs, fear about the housing market. It is brutal. In fact, this economic downturn is more widespread than is currently understood - it is affecting most if not all of the globe. It affects nearly all aspects of business
and industry. If you haven't already felt the affects of job cuts from wall street to main street and a nation wide credit freeze - you will shortly.
In quick succession every single business out there (except maybe big oil, coal and other energy providers) are having to make cuts due to reduced consumer spending and increased costs of doing business. Most business owners are faced with two decisions. The first is to cut back on everything they do, reduce their inventory, cut back on advertising, reduce overhead - essentially "hunker down" and weather the storm. The other choice is to take advantage of the downturn, to realize that somebody always gets rich during a downturn and that this is the time for you to "break out of the pack".
Which One Are You?
Are You A "Grin And Bear It" Or A "Use The Downturn To Make A Fortune" Kind Of Guy/Gal?
If You Want To Do More Than Just Weather This Storm - You Will Have To Innovate The Way You Service Your Clients Or Offer Your Products.
Jim Rohn once said "-Have Something Good To Say, Say It Well And Say It Often-". This could be one of the most important things you read during our economic downturn. Why? Simple - right now business are fighting tooth and nail over the dwindling client prospects. In every sector from automobile manufacturers to life insurance
- there are less and less prospects to go around. Consumer spending has dropped and credit has frozen , leaving many business owners to hunker down and wait out the hard times.
This means more and more of your competition (including the kind of competition we call "inertia" - which means doing nothing) are encroaching in your market space. How many business owners are thinking "we are going to wait till next quarter". Consumers are the same way, but there are still a plethora of buyers that are looking for products or services that are truly better or different.
The Good News Is This - People Are Still Buying! (Maybe Just Not From You - Yet!)
Prospects are still buying, if you need proof of that simply pull up a few stats from the oil industry
. When gas was at it's highest (around $4.50 a gallon) consumer spending only dropped about 12%. That's right even though the cost of a gallon of gas doubled, the purchase of gas only dropped a smidgen more than 10%.
So the question is this - how to get more of the customers that ARE buying? To get the answer we simply need to refer back to the very first part of Jim Rohn's statement - "Have Something Good To Say". Now, this is only an email so I don't really have time to go over all the different ways you can have something good to say (if you want a detailed explanation simple request one of our FREE 45 Minute Business Evaluations By Clicking Here) but acceptable innovations will NOT Include Any Of The Following.
*Been In Business Since 1942
*We Are The Biggest
*We Are The Best
*Family Owned And Operated
*Lowest Price/Best Discounts
Customers look at those words and immediately discount what they mean because everyone is saying them. If not these then others that are pretty worthless, things like Largest Provider, Most Secure, Highest ROI, or any other worthless tripe just goes in one ear and out the other.
Having Something Good To Say Means Innovation - And Innovation Leads To Marketing
When you need something good to say about your product or service to capture more of the product base out there, you need to innovate. You need to make your product or service actually better. You need to look at the things you already do that puts you above your competition and talk about those. If you don't have any you need to get some.
(For A Free Discussion On How To Do This Correctly Set Up A Free 45 Minute Consultation).
Generally speaking, you can't just change your pricing structure and call it good. You really have to figure out what your prospects want, identify their hotbuttons and then innovate around that. For example, if your a dentist, offer a Healthy Teeth For The Family Plan, where you offer a little bit of a reduce pricing , on an agreement basis , but require the entire family to come at once and on a specific day. Include basic things that you don't normally include like extra fluoride, free mouth wash or even a certain number of cleanings. This is just one example, again for a detailed explanation of innovation request a Free 45 Minute Consultation.
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This is a good option for businesses that need to understand how to innovate their business to truly have something better to say.
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This is a good option for businesses that already know what they want to say just need to say it better.