10 Ways to Increase Sales During Slow Economic Times

1. Your personal passion and leadership are the key to success. If you have a "Brand" that is well known, hype it at every occasion and show that you believe in the business and the consumer of your products. You will soon find that this passion will flow through your employees and down to your consumer as well and will become infectious throughout your organization.

2. If you do not have a "Brand" that you can associate with, let your creativity loose and ask each customer what you can do for them that will keep them coming back. Don’t be shy. Consumers like to be asked.

3. Go against "conventional wisdom" to "penny pinch" and find a few dollars here and there to spend and grow your market share. It is a proven fact that businesses that increased marketing investments during a recession grew market share, increased margins and had better long-term growth trends than their competition. It may be a simple as hand written "mark-down" signs, old inventory clearance, or call your supplier for over-stock deals, etc…. Use your imagination.

4. Find ways to trust your consumer as to what they really want. If it is within your capability to do so, offer them what that want in a short term exercise. Give them what they need to be true believers and loyal to you from this date forward.

5. Find new ways to communicate to your consumers. K-Mart did it with the "Blue Light" Special. Walmart does it today with Senior "Greeters". One may think that just being there to assist is enough, but it isn’t. Try reaching your customer base by any means that you have available, ie,…. Sales Slips, Warranty Cards, Returns, etc. Creatively deliver the same message across all platforms of communications and you will be able to quickly gauge the success of each communication.

6. Be sure to be a good accountant of your efforts and measure everything that you can. If you are not disciplined in these processes, you will become quickly frustrated and unsuccessful. Review all of your processes each week for gains and "no-gains". Adjust accordingly.

7. Do not forget to invest in your employees. You know them better than anyone and will have ideas as to how to build their skills, knowledge and ability to handle more than they do today. A weekend outing to discuss how you can grow your business with your employees may bring you surprises that even you did not consider.

8. Trust your consumers. They are your ultimate "brand consultants" in forming strategy, developing breakthrough creative and expanding media platforms. Consumer insights and experimentation can produce breakthrough ideas.

9. Strengthen your Supply Chains by "asking" … What is moving? What are others doing ? What is the best price break? Aggressive marketing with your supply chain often results in pursuing efficiencies and productivity that you never thought of. Next, watch your "cash flow" to take advantage of those easy deals and watch the dollars flow.

10. Do the right thing for your Customer. Your consumers will notice and reward you for giving back.