Since the beginning of the year the so called “pundits” have been preaching gloom and doom from the economic pulpit. Recession, high gas prices, shrinking dollar, a roller coaster stock market, and the list goes on and on. The long honored “fourth estate” that used to simply print the news has, in recent years, begun creating it. Or should I say “spinning” it to attract readers and viewers. Like all other businesses the news business has become more and more competitive and that has spawned an information environment that is not always helpful to business. Corporations and business are often portrayed as the bad guys rather than the saviors of the economy.

Your customers soak up all this negative energy and pull in their spending horns and decide to ride out the storm. And the media message becomes a self fulfilling prophecy. Now they are free to report a ‘see we told you things would be bad’ message and have it believed. They can then relax in their high backed leather chairs and reflect on how wise they are. Meanwhile, customers are left questioning how does a recession affect the stock market, further contributing to their cautious behavior.

Unfortunately, on the small business street below, they have created great hardship for the small business owners of the country. While the consumer can curtail their spending the shop owner still has to keep cash flow coming in. The question is … how? Here are a few suggestions to keep the cash register ringing during hard times.

Bag The Elephant
In the movie “Wall Street”, Bud Fox contacted Gordon Gekko every day for three months to finally get an appointment to make his presentation and eventually “bagged the elephant.” The point is – profile your ideal customers. Who are they and where are they? The more affluent the customer the less they are affected by economic changes. With so much to lose most are usually prepared for the worst. They are also quality buyers rather than price shoppers. Not to say that the wealthy aren’t frugal with their resources but show them a value and if the need is there they will buy.

Create a Prospect List
In my opinion, the best way to reach a small targeted market is by direct mail. If you can’t afford a mass mailing then mail once a week or as often as you can. I like postcards. They are relatively inexpensive to print and mail.

What’s Your U.S.P. and U.P.B.?
USP stands for “Unique Selling Position.” This is how customers position you against other companies they feel offer the same products and services. For example, Burger King and McDonalds might be seen as similar stores by customers. The USP for these two giants are their sandwiches. Burger King has the Whopper, McDonalds has the Big Mac. Customers don’t choose between the two companies based on the companies they choose on the basis of the sandwich they like best. The sandwiches are the unique selling position.

The UPB is your “Unique Perceived Benefit.” This is the benefits of your company, products, or services in the mind of your customers. Customers buy benefits they don’t buy the features of a product or service. This is the real key to increasing sales. Customers still have needs even in weak markets. Every minute of every day someone needs your products. Life goes on and people still buy.

Get The Right Message Out
After you have decided on your USP and your UPB you have to devise a message to communicate with your customer that will cause them to act. It might be a limited time offer, valuable information, a seminar, some reason for the consumer to contact you. You need sales now, not when the customer gets around to it. Make a compelling argument in your mailer to come in now.

Final Pep Talk
The vast majority of people want to maintain their lifestyles. It’s not natural for them to sacrifice in spite of what they read and hear. At best they will only maintain that position for a short period of time. They have needs and desires. They want to buy. Show them how.

Check out Tom’s Weekly Radio show at http://kmmsam.com Every Saturday Noon to 2 PM Mountain Time – Follow Tom on Facebook at facebook.com/smalltownmarketing and on Twitter @smalltownmarket