5 Tips to Keep your Business Profitable During a Recession -Dallas Marketing Firm
Released on: January 27, 2008, 12:27 pm
Press Release Author: Shama Hyder
Industry: Marketing
Press Release Summary: Editors: You are welcome to reprint the following tips, as long as the contact information at the end is included.
Press Release Body: Dallas, Texas -- January 27, 2008- "Most experts agree that we are in the midst of a looming recession. If the economy continues to swing downwards, businesses will have to be prepared\", says Shama Hyder, the Chief Marketing Expert and Founder of After The Launch, a Dallas based marketing firm. Here are five tips to keep your business profitable during a recession.
1. Have a Game Plan Ready Always be prepared. Create an alternative budget in case the economy does turn sour. Make sure to keep all your employees and vendors in the loop. If possible, host a meeting to brainstorm ideas to cut costs and increase efficiency. Also consider allowing key employees to telecommute to cut down on costs.
2. Focus on Marketing Although the initial inclination of most companies is to first cut the marketing budget, it's not the wisest move. Instead, look for ways to use your marketing budget more wisely. You may also have to find new ways of generating old leads. In tough times, you have to do more to reach more. If before you were using just email to keep in touch, you may now have to consider following up the emails with a call. Lead generation in tough times requires more reaching out.
3. Team Up Find another independent professional or company that offers services complementary to yours and team up. You can both cross-promote and reap the benefits. If you are a dentist, consider teaming up with a local pediatrician. If you are a law firm, think about teaming up with an accounting firm.
4. Beef up Customer Service In tough economic conditions, your current clients become even more golden and indispensible. Make sure to keep them satisfied. Also, find a way to reward them if they send you referrals.
5. Keep your Long Term Goals in Mind It can be tempting to cut corners for short-term gain, but remember to keep your company's long term goals in mind. All economic conditions are temporary, but that doesn't mean the same applies to your business.
Shama Hyder is the Chief Marketing Expert and Founder of After The Launch, a Dallas based marketing firm. Her website, http://www.AfterTheLaunch.com, has turned into a high-traffic destination for people looking for advice on marketing their businesses successfully.
Interviews may be arranged via telephone or email Telephone: 469-774-8000
Web Site: http://www.AfterTheLaunch.com
Contact Details: CONTACT: Shama Hyder at 469-774-8000 (days and evenings) 2103 Nob Hill Dallas, Tx 75006 Shama@AfterTheLaunch.com http://www.AfterTheLaunch.com