How to respond to the economic crisis - Part 1

The current crisis is everywhere: in newspapers TV, in magazines, in discussions at the coffee machine ... Yet this crisis is a crisis of confidence in that the results of the previous year are good for most businesses and activity does not (yet) suffered a major decline in the last quarter of 2008. Most companies are just beginning to collect some slowdowns since November.

But it is now too late to expect a good year in 2009: companies are now anticipating a crisis-which they themselves caused by reducing their budget by cutting spending not helpful in advance, preparing to reduce the wing of the organization, to freeze the increases ...

In this context, it must therefore expect a difficult year 2009 and the first months will be decisive for whether the crisis of confidence will last one year, or if it will be a longer trend.

The companies have no choice but to prepare for setting up an anti-strategy, but also preparing to grab the opportunities when they arise. Indeed, it is not for nothing that the ideogram for "crisis" in Mandarin also means "opportunity" because difficult times enable more nimble companies to catch up (or buy) competitors slower or less reactive.

For that we offer this first series of 13 tips on adjusting your business policy and marketing deal with the consequences of the crisis.

1 - A strong competitor or redeemed.

We must seize the opportunity to offer competitive bids times very aggressive to customers who will surely lose confidence in the products of the brand. Do not forget to go door to enter the distribution system if necessary by identifying the dealers via the Internet.

2 - The business no longer consider the morale and the new targets unattainable.

There is of course review the objectives, but neither too early nor too late ... In addition it is necessary to take action, Team Building (trail Karting, cooking ...) to regonfler morale of troops and reunite teams that will be turbulent address the crisis.

3 - The Best Commercial leave the company to go to another company that pays better.

In case of departure (or termination) is the corporate memory disappears, it is essential to keep order not to lose relationships and customer knowledge. Therefore more than ever set up a CRM solution to keep the history of trade relations, potential customers ...

4 - The sales are more difficult.

It should promote exchanges among business but also with marketing teams to take into account the good practices and identify key points that can tear a sale. If necessary we need to call an external firm that through an external will be able to identify the strengths and weaknesses of your sales process and possibly the best.

5 - Customers are even more pressure on prices, and are playing competition.

It is imperative to control costs and further improve its quality of service (performance customer service and technical knowledge of technicians, assistance in setting up solutions ...) and its reactivity (answer within 24 hours at a Quote, deliver faster ...) so that the client can no longer take into account the price, but a complete service.

6 - The margins are shrinking and crumbling.

We must remind the trading limits permitted in terms of discounts, and review its trade policy, such as pricing. Sometimes it is interesting to re-schedule according to the typology customers to provide more room for negotiation.
At the same time it is essential to review its product range by removing products that do not relate to the company (eg propose that offers 3 product line instead of 5). Similarly it is necessary to analyze its services to identify opportunities for growth by defining different offers entry-middle-high range, or set up new offerings with modern communication tools (eg support entry range by email and chat, mid-range support with unlimited phone calls and high-end support with guaranteed response within one hour ...).

7 - too commercial or not enough variable in their wages.

Depending on the situation the company needs to review its remuneration policy favoring such a fee on the margins instead of sales, increasing a fixed when goals are difficult to reach by setting up of premiums on new customers acquired or the quality of information returned in the CRM to focus capital clients ...

8 - marketing no longer work as well.

It is necessary to analyze its customer base and identify the profile of your best customers (CSP, business, business size, record purchase products purchased ...) to address communications and offers. At the same time you have to buy files this type of prospects to be sure to propose an offer.
At the same time it is necessary to establish channels of loyalty to effectively exploit its customer base (eg proposal for additional services to 2-month promotion to go to the range over after 6 months ...).

9 - The marketing expenses are reduced.

It is necessary to be creative and do the same with less money. For example building partnerships with companies offering complementary products for emailing Crusaders. We must use new tools cheaper or more effective that are not currently used, such as SMSing, voicemail, emails with videos, membership ...

10 - Customers are longer to decide.

Should be put in place a tracking leads, if necessary with actions planned in the long term if the decision cycle than 2 months. This chain of exploration should take into account the different stakeholders in the project proposals from competitors ... and what kind of message to push for the different stages of decision-making (from education, and to the end of promotions).
At the same time he must reassure the client of the firm's performance, and the merits of choosing a company in a difficult economic environment for many businesses.

11 - The trade was more difficult to make big business.

The manager must be present at the side of its business to support them and encourage them in the deed of sale to key moments. Moreover, the Directorate-General must have a clear priority on the objectives of the company so that all know what is most important to do in their daily work.

12 - The commissioners are overwhelmed to achieve the objectives, the company becomes rigid.

To continue to move forward without jeopardizing the daily activity must outsource certain activities to become more responsive. For example make use of proxy forces at the launch of a new product for a commercial transaction, to attack a new business ...

13 - The competitors are very aggressive in the market.

The company can focus on a niche market for s'hyperspécialiser (but be careful not to be dependent on a small number of customers or be on a weak market). However, in all cases it will be essential to differentiate its products and enhance its USP (Unique Selling Proposition, ie so that your products are different from your competitors). ... We must focus the needs and problems of its customers to respond optimally to market.
Also it will set up a watch to monitor what our competitors and analyze their offers (arguments, weaknesses ...) for effectively.