Innovative businesses make more money during financially difficult times by understanding the need of their customers and prospective buyers and helping to meeting it.

The normal trend is: reduced income for buyers and customers leading to a drop in sales for sellers, especially sellers of expensive products. This is followed by a cut in seller expenditure, most impactful on the society being laying off of staff or cutting down their income. In extreme cases, these may be necessary but most of those who do that have not truly exhausted their options.


WE NEED A CHANGE OF APPROACH

While it is true that expenditure must be cut down when income begins to dwindle, we need to take a people-centred approach. Laying off people is more disastrous than it seems. There are things to do first before thinking about making people jobless at a time when businesses consider hiring more as burdensome and when things are more expensive out there.

1. ELIMINATE INEFFECTIVE ACTIVITIES

Define the core of your business and see if you are unnecessary embellishments sucking out your funds.
* One of the things to do is check all popular industry practices you've been copying with no justifiable reason. Drop what has not been helping you. No "follow-follow"


2. IDENTIFY OPPORTUNITIES

Analyse your business processes to see areas where alternative measures are available that will cost you less. Often, it is because we continue to operate the same way as long as we are making money that we don't recognize already existing alternatives, not because cheaper alternatives don't exist.

3. REMOVE OBSTACLES FROM THE WAYS OF CURRENT. AND POTENTIAL CUSTOMERS

This is related to the above points too. Make it easier for customers to access your products and services. People are like water, they flow in the part of least resistance or form a dam. Don't be jealous of business dams when your customers have to go through a lot of stress to do business with you.

• Some of us feel cool when we see customers queuing to purchase from us. You are begging for a new and better competitor. Those people are not queuing because they enjoy your service; it's because they don't have a better alternative yet. Make things easier and faster for them before one of then wakes up and start a competition close to you.

• We have many manufacturers and wholesalers with no online marketing and selling platform, yet they complain about sales. There are people who could be interested in becoming distributors, who may even have the market but are absolutely unaware of your company's existence.
• Many retailers try to send customers from Facebook to their website rather than sell to them right on Facebook. Statistics show that most people don't leave social media websites to view other websites. It's human behavior. Just open a branch on Facebook an sell there. I'm an F-Commerce trainer. I know what I'm talking about.

4. ADD YOUR CUSTOMERS TO YOUR PAY ROLL
Yes, stop saying "thank you" during economic crisis. Empower your customers financially and they can buy more from you.
"Is that not crazy? I need more money. Why should I spend more?" You are probably spending more already, trying to convince everyone to buy from you.
There is no other method of advertisement as powerful as word-of-mouth. Develop a reward program for your customers who invite others to buy from you. Some call it referral programs, some affiliate, some "partnership". Whatever you call it, just stop saying, "Thank you for banking with us." People are only happy when they leave the bank with money, not when they go in to deposit. Is that not so? Especially in financial crisis.

THERE'S MORE

• RAPID SALES STRATEGY

There is a sales strategy your company can employ that can help generate more income for both the company and clients or customers without creating the problems of Multilevel marketing. Interested business owners can send me an email (see below) to learn more about it.

• F-COMMERCE
If you're interested in real F-Commerce (I'm not talking about just opening a Facebook page and expecting to sell from it.) please contact me. There are techniques to doing business on Facebook that will shoot up your sales.You can 30% or more jump in revenue, while some who are too knowledgeable to learn are getting frustrated with Facebook.

Send email to: mailboominn@gmail.com
Or whatsapp: 08132478757

Thank you.