by Olwen Anderson

Created on: February 18, 2009   Last Updated: March 02, 2009

When the marketplace seems to be contracting, what should you do? It's tempting to bunker down and wait while you ride out the economic storm, hoping you'll survive. And yet intuitively you know that buying and selling continues, even now. How do you reach the people who are still active in the marketplace and attract them? All you need to do is apply some solid, basic marketing principles:

1. PEOPLE LIKE TO BUY FROM PEOPLE THEY KNOW AND TRUST.

Your role is to develop meaningful relationships with your potential customers. Review your prior sales to establish your past customer sources. Which method gave you the best return on investment? Networking events? Blogging? E-Newsletters? Media releases? Choose the method or combination that's proven itself for you and apply it rigorously.

2. PEOPLE LIKE TO BUY FROM BUSINESSES WHO ARE ALREADY SUCCESSFUL.

And the successful business can be seen generously sharing information. You can build relationships with your clients while providing information that they seek. For example, if you sell real estate, you can easily run a series of seminars, or e-newsletters, educating potential buyers about how to thrive in the current real estate market. You have now positioned yourself as the expert in your field, the business they can turn to for help when they're feeling lost and confused about their potential purchase.

3. PEOPLE TALK ABOUT THEIR PURCHASING EXPERIENCES.

Maintain that valuable relationship you worked so hard to develop. A client referral program is essential, and will keep your business front-of-mind. Follow up with buyers after their purchase to establish what they liked about purchasing with you and where they feel you can improve your service.

Customers are out there in the marketplace. Be the business they would most like to deal with in the current economic climate.

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