Make a Small Business Recession Proof
If you're a small business owner, there are several steps you can take to help weather the current economic storm. Read on for some insights into recession-proofing your business.
Instructions
1. Prove your worth. Instead of being vague in your claims about how you can help your clients, post testimonials and case studies that demonstrate how you were able to get tangible, measurable results for your other (similar) clients. A case study is far more interesting to read than boring facts, and it demonstrates your expertise in a believable way.
(Hint: Try adding a graphic image of the free thing, testimonials and video, and make sure the form is on the top of the page so the user sees it right away.)
2. Raise your rates. This may sound a little odd, considering our financial circumstances as a whole these days, but clients know that they get what they pay for. A slight rate increase also shows that you provide quality services. If clients are referred to you, especially, they'll see that they will get what they pay for.
3. Tailor a media pitch. Promote your company without paying for an ad by using the press. Newspapers are usually receptive to printing information that others find valuable. Offer tips related to your industry and include a paragraph at the end with a short blurb about your company and link to your website. If the newspapers don't print that, you may also want to put in at least a sentence of dialogue commenting on one of the tips. That way you can attribute it to yourself and your business to gain exposure.
4. Double up. If you're promoting something, use multiple avenues to do so. For example, don't just use radio advertising--try an email newsletter to reach clients as well. Different clients are receptive to different forms of media--so make sure you take advantage of all of them!
5. Explore a joint venture. By partnering with another company that's not a direct competitor, you can get access to their clients. For example, run a joint promotion that you're pairing up to offer something new. You can also offer a referral fee to that company, should they give you business. In addition, it's great to pair up with another company to share costs on expenses such as web marketing, trade shows and other promotional events.
