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Melissa Galt

Interior Design Business Coach

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Profit By Design: 10 Surefire Steps to Creating YOUR Prosperous Economy

It’s important to be in the know, stay in touch, abreast of the daily news, the markets and more. I’ve noticed that during this downturn, there is a much more significant resistance amongst savvy business owners and retailers.  In fact,  the best have found unique ways to leverage this crisis and grow their business in new and exciting ways. Even if you aren’t growing, I know you are doing business differently just to keep your doors open.

You  aren’t participating in the bad news; you are creating your own economy.  You are designing your own life.  As business owners and entrepreneurs, you have learned how to weather the storms; know the keys to capitalizing in a downturn; and get the secret to succeeding where others will fail.

This is the ideal time for creative marketing measures.

Marketing Message - Melissa Galt - Profit by Design
Make your marketing message stand out.
  • Do reassess your marketing message, method, and target.
  • Don’t cut back on your marketing efforts during down times.
  • Do learn the new “Language of Profitability.” Banish budgets and create investments.
  • Don’t use the same language that brought you into this, to get you out.

This is the ideal time for truly focused niche marketing.  Make it personal, relevant, and regular.  The beauty of a downturn is that the business world gets quieter and your message will stand out that much louder as your competitors get quiet.

  • Do create a way to stay in touch with your buyers regularly.
  • Don’t just send them an email when you want to sell or announce.
  • Do use creative methods that you might not have considered previously.
  • Don’t be afraid to test more than one method or message.

Use all marketing methods available including email, direct mail (old fashioned but it still works), radio, television, and the web (yes, I do mean social media!) Invest in the relationships with both existing and new buyers. Survey them to find out what they really want (www.surveymonkey.com makes it easy.) Relationship investing will lead to real business returns.

  • Do know who your target market is, be specific and focused.
  • Don’t take every prospect that comes your way, just because you are a little hungrier.
  • Do look for ways to take advantage of consumers staying put, unable to move.
  • Don’t assume they won’t spend; they often have more money because they aren’t moving!

Chasing a buyer who is the wrong fit wastes a lot of energy, time, and resources.  This is the time you need to be laser focused.  Trying to be all things to all buyers, will mean you are nothing to anyone!  Set yourself, your product, your storefront, and your representatives apart from the pack.  Ask yourself what can you do differently to create a memorable experience that will drive buyers to return again and again?

  • Do get rid of under performing employees, reps, and managers.
  • Don’t miss this chance to hire the best for less (there is a lot of talent now on the market.)
  • Do evaluate your location and your facility or storefront.
  • Don’t forget that there are bargains to be had in real estate and equipment.
Business Growth Business Development Melissa Galt
Grow your business in this economy.

Many savvy business owners are using this time to grow their business!  They know that they can get real estate, buildings, fixtures and equipment for far better deals than any other time.  This is also a prime time to review personnel needs and employee performance. While it may sound harsh, if you don’t have the best already on board, there are many talents now available, hungry and whose rates can be negotiated.  Go for it!

  • Do build your foundation now for the success that lies ahead.
  • Don’t undermine your efforts with random cost cutting.
  • Do be patient and optimistic, continue taking action.
  • Don’t become a pessimist, and shirk responsibility for your own success.

Now, that isn’t to say we aren’t affected. We don’t have our heads in the sand, instead we are looking forward, eyes wide open and taking advantage of opportunities created during this period to make needed changes.

It isn’t about what happens to you, but instead what you do with circumstances presented. Are you ready to seek the silver lining or do you prefer to pout amongst the grey clouds?   Are you ready to take your business to the next level? What will you commit to here, as a first step?

Filed Under: Best Business Practices, Business Development, Client Acquisition, Marketing Strategies, Motivation, Naked Marketing ~ Authentic Marketing, Prosperity Mindset, Social Media Marketing, Success Habits Tagged With: Business Development, Business Success, Life Design, Profit by Design, Prosper By Design, Tags: Business Owners

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Comments

  1. Nora Whalen says

    November 1, 2011 at 8:22 pm

    It is amazing the number of clients I have that think that they can just wait out the current change, reduce advertising costs, and (before me) are planning to resume business as normal when the economy turns around. Times are changing and we must change our methods.

    I would agree that a great first step would be to reassess your marketing message, method, and target.

    Reply
    • Melissa Galt says

      November 1, 2011 at 8:57 pm

      Hey Nora,

      I agree and unfortunately many have lost business they didn’t have to with the wait and see attitude!

      Hugs, Melissa

      Reply
  2. Micki Hickerson says

    November 11, 2011 at 5:01 pm

    I really want to tweet but don’t know how to start. Can you hepl?

    Reply
    • Melissa Galt says

      November 11, 2011 at 5:16 pm

      Micki,
      Just got to http://www.twitter.com and create an account. They walk you through simply and easily. Once you have an account, come find me @melissagalt on Twitter and happy to help you from there.

      Warmly, Melissa

      Reply
  3. Lisa Whatley says

    November 18, 2011 at 5:27 pm

    Melissa,

    If your above article you state that is is impratnt to “create a way to stay in touch with your buyers regularly and not to just send them an email when you want to sell or announce”.

    What are the best ways to stay in touch with our customerrs other than e-mail, facebook and direct mail?

    Thank you!

    Reply
    • Melissa Galt says

      November 18, 2011 at 8:04 pm

      Lisa,

      Are you already using regular email touches like an ezine (electronic newsletter?) It educates rather than sells.

      Facebook, Twitter, LinkedIN and other networks are an important component in that touch process.

      You can call periodically and send hand written cards or use send out cards to personally stay in touch.

      Hugs, Melissa

      Reply
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    June 26, 2023 at 1:06 pm

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  6. Brandonnardy says

    June 27, 2023 at 11:19 am

    meclizinex

    Reply
  7. meclizinel says

    June 29, 2023 at 10:16 am

    antivert

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When client inquiries start to dry up, the kneejer When client inquiries start to dry up, the kneejerk response for many designers is to go straight to panic mode. Economic uncertainties are bound to happen, but they shouldn’t dictate the trajectory of your creative business. 

➡️ What you think about you bring about–and if you’re thinking only about the worst, that is all you’ll see! 

Tune into today’s episode of The Affluent Creative for my strategies for maintaining positivity and stability even in an economic downturn.

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