Cutting Costs And Coming Out Fighting
Cutting costs without cutting opportunity
Businesses up and down the country are looking at the current situation and considering where they can most effectively cut costs.
Given the reduction in demand for many products and services, there is clearly an opportunity to reduce overheads amongst the “doers.”
Mid-tier management and admin functions are often hacked at in trying circumstances.
One of the first things a business tends do in a crisis is reduce, and sometimes remove entirely, their spend on sales and marketing. If there is no business to be won, then why go after it?
But there is always an opportunity… “every cloud…” and all that…
This is not to profiteer from other’s misfortune. There are ways businesses can pivot to ensure they remain relevant to their customers, or deliver their products or services in a slightly different way.
We are seeing restaurants who have never operated a take-away service suddenly offering full scale meals to take-away.
We are seeing businesses adopt new ways of communicating with their clients and users, using e-newsletters, mailers, direct mail etc.
Businesses which traditionally thrived on face-to-face meetings are switching to video conferencing services. In response, many of the platforms are offering free or reduced subscriptions in the short term to support.
Technology is enabling business to continue; and we feel more comfortable with using it following the rise of video calling with apps like WhatsApp and FaceTime.
This is not a “shout out” for technology, rather a call to action for business owners to continue to invest in their efforts and find new ways to promote their products and services.
Coming out fighting
Instead of burying their heads in the sand, we are seeing businesses coming out fighting because of what is going on, and looking at how they can best approach the uncertainty to come out the other side stronger… you might recall those that came out of 2007/08 strongest were the businesses that continued to invest something in sales and marketing.
Make sure you’re coming out fighting…contact David Opie at Solve Legal Marketing today to discuss how you can continue to invest in your efforts to promote your business.
[email protected] / 0330 335 9125