by Barbara Mitchell

Created on: January 24, 2009   Last Updated: February 28, 2009

The product or service you provide is not immune to the pressures this current economy has brought with it. You have two ways of doing business over the coming months: maintain the status quo or shake things up a little. The brightness of your company's future depends on the steps you take during this economic downturn. You want to be able to maneuver effectively through the next few months or even years and come out as a stronger force in your industry.

Here are some ideas to help you capture more sales and position your company to leave this recession with an even greater market share:

* Get Some Marketing Smarts

You need to seriously consider increasing your marketing budget if you haven't already done so. Examine your current marketing plan. Look for ways to strengthen your present advertising campaigns and find additional ways to advertise that make sense for reaching your target market. What online forums are attracting your potential customers? What magazines do they read? What talk radio shows are they listening to?

Get aggressive with online ad campaigns, such as Google Ad Words. When your target market types your competitors' names or products into a search engine, do ads for your products or company come up as well? See if there are any quality key word phrases you have left untapped.

* Revamp Your Website

Does your website need a facelift? If so, give it one. Allot more time to SEO strategies. Make sure you are utilizing the latest tools on your website to keep your current and potential customers informed (audio/video message from the CEO, newsletter, or satisfaction survey). Don't overlook testimonials. They are a cheap way to give your company and products instant credibility. Consider adding a blog to your website if you don't already have one.

* Get Connected (Remember, It's Not Who You Know, It's Who They Know)

Make certain you and your employees are utilizing the web in other creative ways, such as joining professional networking sites. Does your company have a video presence on YouTube or other video sites?

Do you Twitter? If not, then research how this unique way of communicating can further your business.

* Increase Your Value in the Eyes of Your Customers

Chances are great that your customers are struggling in this economy also. Offer them practical solutions. Sponsor a Webinar on growing a business through Twittering. Offer a free e-book or white paper giving helpful advice to your target market.

Other Simple Ideas That Work to Increase Your Bottom Line:

* Ask your current customers for referrals. You can do this at the time of sale, in a follow-up email, or a newsletter.

* Evaluate the price of your product(s). Raising prices might be a smart move (do this by raising a product's value), but lowering prices might be what is indicated. If so, inform your customers you are offering them a savings to help them through these tough economic times.

In summary, focus on doing the things you're already doing, but do them better. Find new ways to reach your target market. Contemplate the bright future that's ahead for your company. In fact, it's right around the corner.

Learn more about this author, Barbara Mitchell.
Click here to send this author comments or questions.