Benefit from Unemployment
I almost did not write this post. It seems like such a negative to think of a way to take advantage of a situation where your customers are having to let their employees go. And, it was even more difficult to come up with a suitable title for this post!
But, I thought – the current rising unemployment is what it is. Due to cutbacks and loss of production, companies are having to cut costs, and cut staffing.
That being said, is there a way for your business to benefit from this?
Yes, there most certainly is.
Your business can benefit from your customers having to cut back on their employees.
It might not happen right away, but you need to start putting a plan into place, and getting the word out to your customers.
There are a few ways unemployment can help your operations:
- If you are one of the thriving businesses, you can hire skilled people at a lower salary than normal.
- There are many more options to hire employees on a contract, or part time basis.
- Group together with other companies to hire someone on contract, splitting the cost.
On the other side of unemployment, there are ways to increase sales:
Sales Idea #1: If you sell a service, many companies that have had to lay employees off still need that service, just not on a full-time basis. Market your services to those companies, showing them you can provide what they need at a much lower cost than having to hire someone to do it.
Sales Idea #2: Put together a type of co-op for your customers. Group customers together and sell them your service, spreading the cost around to the companies in the group. They all win, and you probably make more money than you would otherwise.
Sales Idea #3: Gather some friends that are recently unemployed, and put them to work selling for you, making calls, sending out brochures – whatever it takes to bring in business. Give them commission.
Sales Idea #4: Find out which companies in your area have had to let people go. Call them up and introduce yourself. The people there are most likely not busy, and now is a great time to get in and form some good relationships. Most other companies are not selling to those companies, since they don’t expect immediate sales from them.
Sales idea #5: In these times, the companies that are still around will do anything to save money. Call them up, find out if they can use your product or service, and bargain with them. I don’t recommend trying to undercut prices to the point where you are losing money, but do what is needed. Offer then a 60-day new customer special on pricing. Offer them extra services for the same money.
Times are definitely tough right now, and it seems like new job cuts are announced every day. It is never good to see people out of work, and by you taking advantage of the current economic situation, your small company might just grow, allowing you to hire some of the recently unemployed!
If you have any good ideas about how to sell in a slow economy, please throw me a comment!
