More than a year to the day when the bankrupt bank Lehman Brothers, and global crisis all did not end there … And, perhaps, will last more than another month or even year.
As you know, to make predictions on such occasions – a thankless task … is much more necessary in the shortest time developing a clear and correct strategy, as not only survive the crisis time, but to complete this stage with a profit!
First, many businessmen began … lower prices. Who is on 3 or 10 percent, and some on all 40! To the detriment of business development, self-interest and salary expectations of employees
Believed introduction of discounts – the best way to keep turnover at the same level, But that’s just the level of profit falls. A radical reduction in prices must be “extreme” measure, but certainly not the first attempt to find a way out. Such decision is justified only if the company has exhausted all other possibilities: For example, additional benefits to customers and improve service. Often the same a sharp decline in prices could adversely affect the company’s image in the eyes of standing and potential customers that can pay for goods or services at full cost.
Why? People do quite a logical conclusion from this situation: decide once the goods have started to sell at a substantial discount, so the original price was too high. And either do stop to buy it, finding enough quality, or accept only on the reduced value – even when the crisis will remain in the past. Trying to retain customer’s discounts, you can accidentally get the opposite effect – the “gift” to their competitors.
What to do? Here are a few well options that will help your business stay afloat in this financial “storm”:
1. The main rule is that you as the leader of a good idea to write in his diary: can not go to the “crisis compromise on the quality of the product or service. Get an instant reputation as a cheap restaurant, your company risks permanently with her and stay in the eyes of potential customers.
2. No need to cut prices too much. It is sufficient to make a discount of 10 percent. Falling prices should not cover absolutely all the goods and services. Can announce the action only on those that sold slowly, but at the same time bring the company higher profits. So, sacrificing 10 percent, you are more likely to keep old customers, attract new and keep (or even increased!), Average turnover.
3. Think or inquire about the wishes and interests of their clients. Perhaps it is do not simply lower prices, and the modernization of your business? For example, if your company had only produce furniture for specific customers, you can add to the list of services for the renovation and modernization of old furniture. Transaction price, of course, be reduced (to update an old sofa is 2-3 times cheaper than buying another) – but you save and load the turnover of staff work.
4. Plan a PR company to 1.10 the following month. These days, people usually receive a salary and the joys of hunting spend money on something new and promising.
5. To market a “crisis-proof” the offer of goods or services under a new brand … or go to other outlets With a lower price category. Then you save and those of older clients who are willing to pay full price and get a new, less affluent, but perhaps more active consumers.
6. Form Info … groups, making it discounts – 5-15 per cent each. And sign on flyers or informational posters, how many consumers will save by buying one or another set of products. The experience of the Internet shop selling wine, sales volume, not only to keep (because people like to buy profitable!), But may even increase compared to pre-crisis time!
How to elect, to decide of course you, the main thing is that our advice helped you make a wide step to the conservation and Business Development in the current difficult time.
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