I talk to a lot of people; Contractors, employees, small business owners and etc. Everyone agrees that 2019 is going to be a slow year for business.
Business owners are already feeling it. People are reluctant to spend, unlike previous years.
According to this CNN commentary, China’s economic slowdown is starting to weigh on some of the worlds biggest business. Growth in China last year was the weakest it has been in nearly three decades and outlook for 2019 could be worse, as the trade war with the United States continues to damage their economy.
When demand is low, when consumers don’t spend as much, businesses will be the first to suffer. When that happens, expect jobs to be slashed and businesses to go bankrupt.
However, not all is gloom and doom.
While everyone is complaining about low sales, you can move away from the pack and be a part of the minority that is thriving and profitable.
Thriving When Everyone is Losing? How?
How do you become profitable when everyone else is struggling financially? The answer is simple really. Observe what everyone is doing and DO THE OPPOSITE.
You need to adopt a contrarian approach if you want to SURVIVE this year.
What do businesses typically do when sales are low?
Here are some of their To-Do list:
- Reduce workforce.
- Cut down on expenses.
- Cut down on marketing.
- Conserve cash.
- Reduce production.
- Close shop.
The worst action to take of course is to close down the business but sometimes, closing down the business is the most sensible thing to do.
Now, what I find puzzling is businesses will usually cut down on marketing expenses when sales are low. That doesn’t make sense.
Marketing (and sales) is the lifeblood of any business. When you cut down on your marketing, you are essentially cutting down on ways people can find out more about your business and potentially buying from you.
So, instead of cutting down on your marketing budget, you should increase it. Pour more money into marketing, identify and eliminate unprofitable marketing channels, explore new channels to reach more customers, always find ways to be seen and heard.
Can Digital Marketing Bring In Tons of New Customers Into Your Business & Fill Your Bank Account?
Digital marketing has the potential to bring in a lot of new customers into your business if done correctly. The key here is to do it right.
Here’s the thing: almost anyone can create a Facebook page. It’s so easy even my 7 year old niece can do it. However, not many can create a Facebook page that generates 1 million ringgit in sales every year.
Not many people have the know-how or even the capability to achieve such enormous feat.
We however have the experience and we have been in the trenches for many years building digital marketing systems that generates tons of profits for their owners.
I don’t like to brag but we do know our stuff.
If you are a struggling business owner looking to add more ZEROS to your profit and need our digital marketing assistance to help you get there, then I would suggest that you send us an email at email@example.com or send us a WhatsApp message at +6012-877 3186 to continue our conversation.
Looking forward to hear from you.