It seems like everyone has an opinion of how to weather this weak economy. Gosh, some of the gimmicks out there are down right awful. People in advertising are very judgmental by nature, but really...if you have a dog as your spokesperson or are slashing prices by the thousands - you are one of the "bad" marketing culprits. And instead of accepting that business is different now and directing your focus on getting back to the basics, most are obsessed with the "glory days" of order taking and minimal marketing efforts. "Just wait until after the election. For sure the market will come back." If that's you, it is not a good idea to keep holding on to that pipe dream, cause Lucy, you are fooling yourself. The market has changed and it is a permanent change. For those who of you who say you've been around the block and weathered worse storms, you guys are the worst for resisting this change. The ideas of the past are not the ideas of the future.

Some things are out of your control. But what is in your control is the way you think and focus on gaining market position, which is a relentless and strategic effort. A good indicator is - if you are hurting now, you weren't doing what you needed to before.

So what is the solution? Accept change, listen to your customers and above all listen to those who you have hired to be the experts in their field. The world has changed and no matter who wins the election, will your business change with it?

So here's my advice, only 5 short of David Letterman's:

Top Five Tips of How To Gain Market Position in a Weak Economy:

Sell Like Hell.
Wherever there is trouble, there is opportunity. Now is the perfect time to up-tick your new business efforts, script your sales process, prepare for objections (not the old ones, the new ones), focus on benefits (the real ones), fill the pipeline and use limited marketing dollars more effectively.

Marketing Counts This Time Around.
Customers are not looking to be sold, they are looking to buy, to have a relationship with their chosen brands. In this customer-empowered economy, most companies realize that they need to continue marketing to stay close to their very valuable customers.

Cut Expenses Now. Don't Wait.
Now is the time to get your expenses in order and in line! Does your overhead match your billings? If not, take action now. You won’t be able to afford to wait.

Use the Web – Know the Web.
Companies and consumers are intrigued by it, but really don't yet know how to use it properly for marketing. Hint, we do.

More Billings from Current Clients.
Think this doesn't apply to you? You are wrong. Every business (even Real Estate) has an opportunity to gain new business from its past customers.

I am sure there are many businesses out there that will be affected by the upcoming election. However, if you are expecting a Y2K moment the minute after the election, I would highly suggest you rethink that strategy. But if you want (and that is the word - want) to be really great, then you have to be willing to get uncomfortable, get "out there" and do something different!

LA&M
Jenny Taylor, Vice President of Client Services
Resource: Second Wind Network

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