Recession – Wave # 2
I think many of us were hoping the recession would be all said and done at this point. Not so. George Moen, the vice president of Blenz Coffee, spoke earlier this year about an impending second wave of the recession in 2010.
Here it is in all its glory. So what are you doing about it? Panicking? The most important thing you can do is not panic. When people panic, they rarely make good decisions.
I would suggest that right now be a time for reflection. For the next week or so, take this opportunity to get a good grasp on what is working best in your business to get your existing customers coming back for more. If your business is one where customers rarely make repeat purchases in the short-term, ask yourself how you can motivate them to tell others about the quality of your company’s products and services.
This could be as simple as calling customers who have made a major purchase in the past two months and ask them: “How are you enjoying your new __________________?” This suggestion comes courtesy of CFNR Radio’s Ron Bartlett.
Often we jump to the question “How can we get new customers?” without looking at tapping into our existing customer base. “People do business with people they like and trust,” says master sales trainer Howard Olsen.
So, how are you leveraging the relationships you already have?