October 10, 2008

When Budgets Get Squeezed, Do This..

If you are allergic to common sense, then you shouldn't read any further.

It seems that everyone has an opinion on what has been labelled as the "Credit Crunch" and the common message is to reduce our advertising spending.

Having survived a few recessions, in fact I completely ignored advice in 1991 and set up what eventually became a £1M turnover consultancy business, my advice is ignore the doom merchants!

Doing what everyone else does will get you what everybody else gets. When your competitors reduce their spending, you should be looking to grab a bigger share of the market.

However, and this is important, there is a way of both increasing your expenditure and reducing the cost of acquisition.. It's called being more effective. Or, getting more bank for your buck.

Just imagine being able to get a better click through rate from your adverts, increasing the number of people who subscibe to your ezines and getting a much higher sales conversion rate.

In a recessionary economic climate it's even more important that we streamline our sales processes, that we increase the effectiveness of each stage in our sales funnel and that we boost our bottom line profits.

If you've known me for even a short period of time, you'll know that I'm a testing and tracking addict. And there's a big reason for my obsessiveness.. I get better results than the vast majority of my competitors.

In today's economic climate it's even more important that we become more efficient. We now have a superb opportunity to gain that edge over our competitors.  In fact, I'll go one step further.. If you want to stay in business in these turbulent times you MUST seek ways of continuously improving your efficiency.

Because I feel so strongly about this I'm going to make it even easier for you. This month's coupon code "opal" will get you a 51% discount on Paul Hancock's "Small Changes - Big Profits" ebook. It's a MUST READ if you want to learn how to grow your business when everyone else is fighting for survival.

And remember to enter "opal" when prompted for a coupon.

Filed under News by John

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Comments on When Budgets Get Squeezed, Do This.. »

October 10, 2008

Karl Warren @ 10:20 am

John,

this is great advice, and something people would do well to remember. I find doom-mongers to be quite amusing - especially those who are parrots, spewing news and fears that they've heard. It's a bit like chinese whispers.

There are plenty of us who are going to keep on keeping on, and making a tidy profit - while others who are going to give up, making even more room for us who don't know the word failure.

John @ 10:23 am

Karl,

People who "report" bad news do nothing but reinforce bad news. Contrarian thinking will get you further ahead than listening to reporters. ;-)

Kevin Polley @ 11:06 am

Hi John,

snip … and the common message is to reduce our advertising spending.

Thank goodness for those of us who are young at heart and have learnt that this should be the last thing to do if we want to move forward while everyone else disappears into a hole of their own digging.

BTW Great post

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