3 Things To Position Your Business For A Comeback

When times are tough, go back to the foundational elements of your business and make sure that they are working well. There are three areas that small businesses can learn from the big organizations that will better position themselves for the economic comeback:

1. Conduct a competitive analysis. Understand what your competitors are offering and how they are promoting their products and services. Is there something they are doing that you should be considering? How are you uniquely positioned vs. your competitors. (Be honest!) Define your competitive advantage. Do you need a template to help with your competitive analysis? Add "competitive analysis" in our contact form and we'll send you our template that is super easy to use yet thorough. https://thepurposepartners.com/contact/
2. Experience your experience. Check in with your current customers. How is your customer experience? Ask them what’s going well. What do they like about working with you? Do more of that. But just as important, ask for their frustrations. What are their challenges, with your company and in general? Be sure to listen and not try to defend or challenge. Just listen. Issues are always an opportunity to solve a customer problem. If you can solve their problems, you are providing them with value and are an asset. That’s always a good thing.
3. Review your brand experience. Brand experience goes well beyond your logo and color palette. How is your brand being represented online?

• Google your company using “generic” search terms that your prospective customers might use. Where does your company rank? Are you on the first page of search results? If you are not, you need to be. Make changes to improve your organic ranking and consider paid search options. If prospective customers can’t find you, that’s a problem.
• Does your website represent your company well? Is it easy to navigate? Websites succeed when they meet users goals. Can your customers get the information they need or is it easy to make a purchase? Can they get in touch with you easily if needed? 
• Audit all of your marketing materials. Is your value clear and evident? How does your company differentiate itself from others? Are you clear about why a customer should choose you? Are you communicating how you can help your customers’ achieve their goals?

One of our clients had been meaning to update their website for well over a year. When their retail business got soft, we spent a month updating the user experience and overall look and feel of their site and have seen a 30% growth in their online business immediately following the launch of the new website.

Another client had been wanting to create a consistent content marketing plan. The downturn gave us time to work with his team to develop a weekly cadence of marketing messages that support their business strategy. They've seen a 5% increase in their requests for quotes.

Take time to review these three foundational areas of your business. Make any necessary adjustments so you are well positioned when the economy makes a comeback. Remember, when the foundation is strong you can continue to build and you are better prepared to weather the storms.

If you are not sure where to start, we can help. www.ThePurposePartners.com

What have you been doing to invest in your business or yourself during this downturn? We'd love to hear what you've been up to as well.