CANADA
Finding a Silver Lining: Why the Oil Downturn is a Great Reason to Invest in Your Business
The country’s economy is mired in the longest slump since the 1980’s and Canadian businesses are wondering how to weather the storm. For the owners who understand the advantages a downturn in the economy brings, it is the best time in the history of the world to get aggressive and experience rapid growth.
These powerful insights will help you grow when all others see only doom and try to get by:
Invest in Marketing
People still need your goods and services, it is up to you to make sure you are the one who has the image of being the best solution and let the world know. They can’t buy from you if they don’t know you exist. Stand out as THE company with the best products with the highest value for money spent.
Paradoxically, buyers often have more money in a down economy than good as they have conserved cash. Work with your marketing and sales teams to develop the best strategies for getting clients and prospects to buy now.
Grab Available Talent
An economic slump of this magnitude is likely to have affected even the best companies’ top teams and that means there are many highly talented people looking for a job. This is the time to re-evaluate your staff and restructure as well as fill open positions with top talent you couldn’t attract when times were good.
It’s True, You Can Grow Fast
Our team worked with one of our large national clients, Superior Propane, in this stagnant and declining economy and we know it is true, you can grow. The changes we facilitated have helped the company achieve a 180-degree turnaround in their culture, and grow by 3 percent annually -- in a marketplace that is declining by 1 percent per year per year.
Be Strategic About Spending
Review where you’re allocating your marketing spend and how you can really make that investment work for you. Get an expert help to assist you to identify how you could better spend your marketing dollars and increase sales and profit.
Discover more ways you can take advantage of the downturn and read how other companies are turning this downturn into a big upturn for their business in the full article.