Speaking with several companies today concerning today’s economic plight, it occurred to me that perhaps it is pointless to ask “when” things will turn around. A better question may be “what” should be done, sold or marketed while we are hip-deep in the recessionary mire.
For example: take “optimization.” Yeah, sure, it’s a simple buzz word used frequently when times are good. Yet, the word’s jam-packed full of new meaning when it comes to cutting costs in a day when everyone needs to optimize in order to “survive.” Don’t just sell what you make, sell things that address today’s problems. Fix people’s pain. So, for example, manufacturers could market newly updated software or automation systems that streamline process flow and utilize material even better. Perhaps telecommunication companies can offer inexpensive solutions that automate call flow and provide automated customer service (a benefit for companies forced to downsize). Home improvement companies can offer people economic solutions that cut energy costs, such as window tinting, window sealants and environmentally-friendly ways to heat and cool homes. Sure, this may to some extent require a reinvention of your corporate model or an examination of current product offerings. But addressing today’s economic situation may turn out to be more profitable that you had ever expected. At the very least, your company will seem in touch with your customers and sympathetic to their needs. And, in terms of brand loyalty, that’s worth a heck of a lot.
Grandma said it best: “it’s easier to sell lemonade in July than it is to sell snow cones in December.” What are your thoughts?