I recently came across a blog post focused on what small businesses are doing to increase sales during the recession. At Winning Workplaces, they surveyed their registered users and their honorees to find out what tactics these businesses are employing to drive sales. I was shocked at the responses.
For registered users and honorees, the most common choice was “introduce new products/services.” Although that might be an intial gut reaction when sales start slowing, good marketing practice suggests that a tight focus on core products and services helps propel companies forward. Those that diversify too much end up getting distracted from their goals.
Another shocker was that the least common choice for honorees was to “spend more on advertising/promotion.” Again, cutting marketing costs might be the first reaction to a downturn. But, those that thrive during tough times take advantage of the fact that their competition is cutting back. They actually forge forward and spend more on marketing (only on stuff they know works) in order to eat up market share while others are struggling.
I bring this up because I’m curious about what our blog readers (you) are doing during the recession. What specific actions you’re taking to increase sales during the recession? Please take a moment and share with us how you’re thriving in the recession.
[Image by Rich Anderson on Flickr]