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How To Ensure Your Business Is Patronized In Hard Times

How to Ensure Your Business is Patronized In Hard Times

The hard times are here, they are not on the way. It’s time for businesses to tighten up their belts so that they can remain in business. What you do now will determine whether you’re business will stay afloat or sink completely. Patronage is key to remaining in business and overcoming the hard times. Keep reading to learn more.

Here are tips and tricks that would attract customers to your business during recession;

Tip #1: Sell the Right Products

Right now, thousands of people are out of job, which means little or no income to live on. Therefore, luxurious items matter less to most people right now. The basic needs are what people are focusing more on right now. If your business is not oriented to basic and essential needs at this moment, you may struggle to survive.

But, you can get smart and re-adapt your offers to meet the most pressing needs of the hour so that you can attract customers and remain in business. And, if you are just about to start a business in this recession, you should focus on people’s most pressing needs such as food, groceries, health enhancement items and more.

Tip #2: Offer a Fair Price

Right now, many people are drawn to terms such as “cheap”, “affordable”, “budget-friendly”, “inexpensive”, and “low-cost”. You should ensure your present offers align to these buzz words. Consumers would not think twice to patronize businesses that can meet their needs in the most cost-effective way.

To help you offer the most competitive price in your niche, you should look for the most practical ways to cut production costs and the costs of running your business. For instance, ransack the internet for the best prices on materials you need for production. Automation and outsourcing will also help you to save more on staffing costs.

Tip #3: Spread the Word about Your Business

This is the time to get more serious with business promotion. Thankfully, you do not need conventional advertising and their massive costs to get popular as a business.

The internet is there for you to leverage the most cost effective and even free measures of promoting a business effectively. From social media marketing to email marketing, blogging, and video marketing, you have versatile options to choose from. It’s always more effective to outsource online marketing, so that you can focus on your core competencies.

Tip #4: Offer Discounts and Deals

Do not be too uptight in these times. Be as generous as possible, as long as you’re not making losses, so that you can attract more customers and stay on the lead. Consumers would be swift to ditch their favorite brands for the ones that offer good deals.

Indeed, these 4 tips and tricks are sure-fire solutions to remaining in business during a recession.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams

2 Responses to “How To Ensure Your Business Is Patronized In Hard Times”

  1. Melita Long says:

    I love it when individuals come together and share views. Great website, continue the good work!

  2. Bob Farmer says:

    As a small business, we appreciate this advice – Thank You!

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