In an article entitled Seven Winning Tactics During a Downturn, MarketCulture chairman Linden Brown outlines some tactics to use during a downturn that help grow market share and improve the value your company provides its customers. Chief among them:
- Take another look at your firm’s mission. How well does it emphasize your customer?
- Reconsider the team you have in place, and trim only those that don’t provide customer value. Across the board cuts miss this point.
- Spend more time researching your customer and the competition.
- Price strategically. Resist the urge to drop prices.
Be aggressive during a downturn and focus your team’s energy where it needs to be: On building profitable consumer value.
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