#3 Increase Your Prospect Lead Flow

All businesses are based on a sales formula: X number of prospect leads produce Y dollars. In a recession to maintain or even increase sales you must increase number of prospect leads. This can be done in several ways.

First, return to every single lapsed customer from your past. Make them a spectacular offer. Be direct: "We want your business!" Make it very clear to them that you are offering incredible VALUE for chance to serve them. Again, in a recession people cut their spending... but they remain on alert for increased VALUE. Let these people who already know you know that you have something very special for them.

Look at ways you currently get your prospect leads. What can you do to increase their number? At Worldprofit, we offer Lead Source, which is a prospect lead service for people with an online business opportunity, affiliate program, network marketing opportunity, etc. Lead Source enables cost-conscious entrepreneurs chance to get unlimited FREE prospect leads. This kind of service is valuable at any time, of course, but during a recession it's worth its weight in gold. It offers entrepreneurs a vital service they MUST have... while making it available at a price that just cannot be beat anywhere, anytime: FREE!

#4 Outmaneuver Your Competitors

Recessions follow good times. This means that a recession (a time of economic challenge) follows a time of prosperity (which means a period of sloth, laziness, and a pervasive lack of paying closest possible attention to detail.) The people who get through recessions develop money consciousness and pay attention both to what's happening with them and what's happening to their competitors. One reason for this competitor consciousness is so that you can outmaneuver people who may not yet be as alert to economic situation as you are, people who are still half sleep and are therefore easier for you to outdistance.

Your goal is to get through this recession in best possible order. Your competitors ought to have same objective as you do, may even SAY that they do, but may not ACT as if they mean it. This is an advantage to you. Your job is, first of all, to pay close attention to what your competitors are doing, offers they are making, messages they are sending customers and prospects. You must then go to these same people with a better offer, with more VALUE. In short, you must go with objective of making other people's customers YOUR customers. Again, remember that during a recession people don't stop buying, but they do look more closely for VALUE. By offering VALUE you weaken your competitors and strengthen your own position.

Last Words

Properly understood, a recession may be regarded as a blessing in disguise. Anyone can run a business and make money in good times. But only smartest people, most determined, best prepared can prosper during a recession. If you do what's necessary, that'll be you, prospering now so that you can prosper still more when next good times come, as they inevitably will. Or you can act like Chicken Little and run around shouting that sky is falling which it will surely do -- on you!

1. Weigh your options. Many small business owners panic at sound of word "refund". Don't! Think seriously about what you'll be losing. You could take a small loss of $29.95 now (or whatever cost of product is) in exchange for future sales; or you can retain your $29.95 and lose hundreds or thousands of dollars later in future business. If their complaints are handled to their satisfaction, majority of consumers say they will buy from your company again.

2. Get personal. The number one complaint most consumers have is that businesses don't appear to care whether they buy from them or not. Get to know your customers. Send a thank you note or small gift when a purchase is made. Fire off a short "just checking in" email when customer's purchases seem to slow down just to ensure all is OK. This extra effort will be noticed - and appreciated.

3. Follow through. If and when a problem with a customer does arise, be sure to follow through. Don't simply tell customer that you'll ship a replacement product immediately. Call or email them a day or two later to be sure new product arrived and is working as needed. This is a true way to WOW your customers and lock in future purchases.

4. Have a plan. Don't fall victim to "policy", but do have a flexible plan of action for when customers aren't 100% satisfied. Knowing what you plan to do will alleviate some of shock and stress associated with handling unsatisfied customers. It will also allow you to present yourself in a helpful and friendly way when working to fix problem.

A 1996 study performed by U.S. White House Office of Consumer Affairs proved that, if you treat your customers with genuine caring and fairness, they will indeed reward you with their repeat business for years to come. That's something you just can't get from ads or autoresponders!