How to Increase Sales during a Recession: 5 Doable Strategies

clakel — Sun, 26 Oct 2008 01:39:24 -0500

Many retailers and manufactures had a tough 3rd quarter and need to recover from the strain. It The holiday season is the most important time of year for the retail industry. Some 50%+ of revenue is earned during the last 3 months of the year. is critical to have a strong 4th quarter to close out the year. To do so, manufactures must engage with their current customers, seek out new ones in effective and efficient ways and incorporate new strategies to do so.

Manufacturers of great products are struggling right now due to the potential threat of a recession, a slow down in sales this year and uncertain political and economic times.

There are several successful, inexpensive marketing and sales tactics worth investigating. These strategies are ideal for manufactures in the retail and e-tail business. At Akel, we are working with our clients to overcome these challenges. Here, we are presenting 5 doable strategies to increase sales:

1) Grass roots marketing. Pay attention to the bloggers out there who write to your target audience. Mommy Communities and Blogs are great resources to get free exposure for your products

2) Increase online advertising dollars. Margins are higher for manufacturers who e-tail. Well written pay per click advertising campaigns can rapidly increase your ROI.

3) E-Newsletters. Your happy customers are your best source of advertising. Write to them, send an e-blast, and keep them connected to your business, products and future.

4) Re-purpose or market your product as a gift or a utility item. Both are always in need. We buy gifts and utility items year round.

5) Give back to your loyal customers. Everyone is struggling now. Do what you can to give back. Create POS materials for your retailers, try to get press in markets which will help your retailers, or give small discounts to your customers. We all appreciate the notion that we “are in this together.”

Although we are encouraging implementing these tactics during the 4th quarter, these are year round strategies to help increase sales. Implementing basic, predictable and inexpensive marketing tactics will help you have a successful holiday season and will prepare you for the upcoming challenges in the year ahead.

By Carolyn Akel is the CEO of Akel Ventures, a sales and business development outsourcing solution for emerging consumer products companies, at info@akelventures.com and the Creative Editor of SpyOnTrends, a site about Consumer, Luxury and Lifestyle Trends.

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How to Increase Sales during a Recession: 5 Doable Strategies