In Troubled Economic Times, be Smart & be Bold: “Grow your Box”
It is within our means not to just survive a recession, but actually thrive in one. The first step in keeping control is going back to the fundamentals, self-management discipline, and keeping a positive mindset. The next business activity to master is your Sales and Marketing.
The first thing you need to change in your marketing plan is your mindset. Today, consumers are still spending money, but they are thinking twice about what they are purchasing. What you really want to do is compete for your share of what is in their wallet, not a market share. The next thing to do is to measure your results.
Make sure you know where your every customer is coming from. This will let you know which marketing strategies are working and which are not. Keep building on the strategies that work and rethink the strategies that are not bringing in business. Then, it will be time to get creative in identifying new ways to market and sell to your target audience. Many people refer to this exercise as “Thinking Outside the Box”. While that is often a great method, a better way to handle difficult times and situations is not to think outside the box. Take it a step further and learn to “Grow Your Box”.
The problem with just thinking outside the box is that, once the crisis or moment passes, we go right back into our comfort zone. True growth really occurs when we take all the necessary steps to make our box bigger, to grow our box and expand our comfort zone through innovation and experimentation.
You are only limited by the size of your box.