|| Print ||
|Friday, May 15, 2009|
So, what’s working for your business? It’s not an insignificant question, that’s for sure. With Oregon unemployment the second highest in the nation, finding and keeping customers is harder than ever.
Go to any retail area around Portland, or a main street in any rural community in Eastern Oregon and all of the “for rent” signs are potent reminders of those small businesses that never did figure out the answer to the question posed above.
For many businesses the answer is discounting. I know that's true for mine. I am in the business of selling content, and whether it is an article, a webinar, a speech or whatever, we are not commanding, nor are we asking for the sorts of prices we got even a year ago. And it’s working.
Of course, discounting your prices is a strategy that must be undertaken carefully. Cut too much and it could kill your brand or cannibalize your other offerings. But that said, it is equally true that right now it’s a buyer’s market out there.
Another thing that often works for small businesses in an economy like this is increased marketing, as counter-intuitive as that may sound. Because customers are in fact looking for a bargain these days, especially here in Oregon, loyalty is rare. So you need to keep getting new customers to replace those that are going to leave, and you also need to nab some of those who are looking for greener pastures.
Increased marketing allows you to do both of those things.
And it need not cost a fortune. Whether it is increased Internet marketing or a discount coupon, shoestring marketing works.
So what’s working for you?
Steve Strauss is the small business columnist for Oregon Business.
|The Good Hacker|
|It's a Man's Man's Man's World|
|Short Shrift:The threat of just-in-time scheduling|
|Downtime with the director of Barley's Angels|
|Fighting Fire With Fire|
|Shades of Gray|
|Man for All Seasons|
|How to court millennials|
|Wal-Mart wants meat suppliers to improve treatment of animals|
|Scandal negatively impacts Tom Brady's endorsement value|
|John Kerry pushes TPP in Seattle speech|
|Big banks hit with $2.5B fine|
|Six Chinese nationals allegedly stole trade secrets|
|Lane Bryant owner to buy Ann Taylor, Loft|
New conference aims to solve challenges, quell fears amid regulatory changes.
Tourism marketing supports entrepreneurship by attracting visitors to all corners of the state.
Beaverton firm's business intelligence platform rivals that of industry heavyweights.
The Oregon Entrepreneurs Network (OEN) will be presenting its third annual Entrepreneurial Summit on Friday, June 5 at Castaway in Portland, Oregon.
On June 13th Mayor Charlie Hales will attend nonprofit organization Dream Change’s inaugural Love Summit and will introduce one of its keynote speakers, Dan Wieden of Wieden+Kennedy advertising agency.
34 spots for food, 17 places to sip, and 7 sites to choose a brew beckon visitors.