Between the Geopolitical environment to the scary $20/barrel oil prices, all investors from wall street have retracted in their shells and this is trickling down to small business — and their customers. Our customers read the papers, they get conservative thus delaying contract signing and hiring of our fine businesses.
There has been a halt in spending that started off as an optimistic January. Don’t give in to it. Proceed with initiatives to reach your customers reminding them why they reached out to you initially. We are looking at closure rates for customers completed at even farther out on the points of contact scale. Meaning that it is taking one set of customers, to commit and buy your services 5 points (times) of contact, and others at 12. (This is done over different medias, for example: calls, mailing, following-up calls, newsletter, email, etc.) These are today statistics just in.
You are the experts in your fields. Touch base with your customers to remind them of this. Filling those follow-ups with a new fresh inspiring idea towards the project, or a comforting talk about how you can accommodate them with the timing or way the job can be executed, shows your professionalism that builds bridges. Empathize and show them that your business is there to help them get the improvement that they really desire.
And most importantly, remember it is the long-game that is your goal. Think about what you want your company to be in 3 years, and the ways to achieve it will form. Then start implementing them today. Shortsightedness does not allow growth. So fight back the demons of self-doubt and short-term panic, and go back in and do what you do best!
Here’s what we have to remember, you invested in your business with money and sweat when you started it. It shouldn’t be any different now. So don’t think you can sit back and let the business run itself, you need to stay top-of-mind with your customers and be the great businesses that you know yourselves to be.
I hope this was helpful.
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