A
{{B}}About Marketing{{/B}}
Our theory going into 2002 was that most companies would hold their breath and wait for the economy to move before investing in marketing. And cutting back marketing dollars did turn out to be the wave that most companies were riding. But, it is just a knee jerk reaction to a down turn. Those that continued to market through this year are in better shape going into 2003 than when they staged in 2002, Marketing is not for just the best of times, it's crucial in the worst of times.
B
{{B}}About the Customer{{/B}}
Aside from wondering where you're going to get new customers, we all learned that it should really be about retaining your existing customers. Guess what? That's where the lion's share of your business is coming from anyway. Too bad many companies cut back on customer service. Some companies chased away their existing customers in droves in the interest of saving money. It doesn't make sense.
C
{{B}}About Relationships{{/B}}
Many assumed price was the major issue with customers. A customer is surely going to talk about pricing. But you have to move that conversation in a mote productive direction. It's not about pricing. It's about value. If you can demonstrate value you don't have to lead with price, In large part, the value in any customer interaction is the relationship you build with them and how you maintain it. And the hard truth is if you're serious about relationships, you maintain them even when they aren't buying. Why? Because once they have money they will stick with those who stuck with them.
D
{{B}}Doing More With Less{{/B}}
The days of spending marketing and sales dollars like water are over. That's not a bad thing, really. It means that companies are now going to really think through their decisions and make better ones. It's better for the economy in the long term. And it gives everyone an opportunity to present the best solutions and the best value for business propositions. Doing more with less is actually smarter and will improve the business climate over the long haul, which is really what counts.
E
{{B}}Pipeline{{/B}}
Every company should be working on near-term, mid-term and long-term opportunities. This is solid selling technique. In a tight economy, it's absolutely imperative. We all knew that 2002 had very little low-hanging fruit to grab. That meant you had to march harder, more creatively and longer to build a solid pipeline. Ideally, you should have a handful of deals just ready to close, a handful of hot prospects, and more than a handful of opportunities that you are moving along. The time to start is always NOW! Going into 2003, what does your pipeline look like?