The business editor of our local daily newspaper e-mailed me about a story on marketing during a recession.
Economists are divided as to whether we are officially in a recession, but most agree the economy is in a troubled state, to put it mildly.
My advice was that, during a recession, companies should be more flexible and accommodating in matters of price, terms, delivery, service, and sales.
For instance, a printer of specialty films might have a minimum order quantity of 1,000 sheets.
If during a recession, customers complain that they don’t need that many, they should consider waiving that minimum order or at least reducing the minimum order quantity.
That was MY tip.
My question is: what do YOU do in your business — in terms of selling, marketing, pricing, and customer service — to survive and thrive during economic downturns?