10 Tips for Successful Marketing in a Down Economy

1 You know the old saying "A bird in the hand"
As is often the case, 80% of your sales come from 20% of your customers. Put your marketing effort into strategies geared to appeal to the "elite 20". Go out of your way to ensure customer service and marketing efforts to them is at its best. Reap the rewards - these elite will be proclaiming your praise to others - sustaining your sales through tough times and beyond.
2 Seek out prospects - Good Research is Vital.
Use the extra time you may have in a down economy to uncover the factors that motivate your sales. Who are your elite 20%? What products/services are they most interested in? Your best prospects will always closely resemble your best customers. Your research should produce some answers to who your prospects are, and where, why, when, and how they are converted into active buyers.
3 Tell the Truth / Gain Trust - do not exaggerate.
In tough economic times; consumers will often take more time to make buying decisions - carefully weighing all the options. Although enthusiasm is good - slow down on the marketing hype and focus on building solid relationships by presenting trustworthy information that will help them make a decision. Maintain confidence and a passionate attitude but use a softer sell approach.
4 Sell Benefits, not products or services.
Purchasing is an emotional decision. A buyer wants to feel good about the purchase - and you can set them up to feel this way by stressing benefits instead of features. Think about how your product or service will make the buyer's life better (happier, richer, more comfortable, more free time, etc.) and communicate with prospects from that point of view.

Customer Testimonials - Keep it Current and Real.
When it comes to tough economic times; we're all in this together. That feeling makes it natural for consumers to rely more heavily on testimonials and ratings in their buying process. People trust people, especially if they feel connected to that person. You can't buy trust - but you can build it by using customer testimonials that speak to potential customers in an honest and believable way.

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