10 Ways to Kill Your Small Business in a Recession

Posted by Street Team Consulting | Posted in Marketing | Posted on 03-08-2009

One of the most seemingly reasonable approaches to surviving an economic downturn is to slash all unnecessary business expenses. But before you start slashing take a quick read through this article; you might redefine your focus…

In their panic to save money, wild-eyed and frothy-mouthed entrepreneurs begin looking suspiciously at their marketing plans. On the surface, advertising and marketing cutbacks would seem to be a logical choice. In reality, cutting back on marketing is the quickest way to end your business.

If you have taken a close look at the magazines and newspapers you subscribe to, you may have noticed they have been downsized… and it wasn’t the their idea. Advertisers are running for hills as they pull back and slash their marketing budgets, in many cases by half.

To stay out of economic harm’s way, you need to keep your marketing momentum at full throttle, even during a recession. And now is the BEST time since your competitors are hiding from potential customers. Your marketing will stand out even more! But, if you think that “hunkering down” through an economic storm is the way for your business to survive a recession… Think again.

Here Are the Top 10 Sure-Fire Ways to End Your Small Business

1. STOP MARKETING and pretend everybody knows who you are and what you have to sell.
2. STOP MARKETING and fantasize that you have more important worries than promoting your business.
3. STOP MARKETING and make believe your customers won’t notice that you discontinued your monthly client newsletter.
4. STOP MARKETING and keep telling yourself that your customers would never abandon you.
5. STOP MARKETING and ignore the potential new clients that would get your products or services if they were contacted by you.
6. STOP MARKETING and stop thinking about your competitors and the fact they want your customers.
7. STOP MARKETING and keep telling yourself it costs too much to market.
8. STOP MARKETING and disregard the fact that marketing is not a business expense but an investment.
9. STOP MARKETING and make-believe your established customers don’t need to be reminded that you appreciate their business.
10. STOP MARKETING and forget that now is the best time to market since all of the idiots are cutting back on doing it.

Certainly you have the choice to follow the above practices and drive your business into the ground or to make the smart investment into marketing.

Here Are 3 Reasons Why You Should Relentlessly Market Your Business Today:

• Prove to your clients that you really do value and appreciate them – market to them using an email newsletter.
• Show your customers that you are a successful entrepreneur willing to invest in your relationship with them – Get your brand all over the Internet.
• Instill trust, credibility and confidence in you and your company as well as your service or product – Invest in online marketing.

The bottom line is, if asked to list their company’s most valuable assets, many would include buildings, equipment, inventory, and accounts receivable. Very few would even think to include their customers. Your clients are the most valuable asset you have. When you use attentive, relationship-building marketing strategies, you create a bond that will allow you to weather any type of economic environment.

Don’t end your business by slashing your marketing. Instead, invest in your marketing intelligently. Call or email Trinacle Internet Marketing at the info listed below.