Don’t shy away from growth opportunities just because there’s a lull in general business activity. Now is the ideal time to build a greater market share through aggressive sales promotion.

May 2008 - Growth in Any Economic Environment

From the moment they open their doors, graphic arts companies should set their sights on future growth. However, even the best-laid plans need to be adjusted once the tempo tapers off in the marketplace. Despite an uncertain economic climate, well-run businesses still manage to grow, albeit at a slower pace.

Veterans of the graphic arts industry know that economic downturns are cyclical and they need to remain focused on doing everything they can to be ready when the pendulum starts swinging the other way. Here are some considerations to keep in mind as your company gears up for a more resilient market:

Maintain a Strong Marketing Program: A common management misconception is that when general business activity slows down, growth opportunities disappear. Actually, this is an ideal time to build a greater market share through aggressive sales promotion. Companies that cut their promotional budget during lean times suffer flat or declining sales and take longer to recover once the market rebounds. A strong sales growth program enables you to solidify your customer base so you don’t lose touch even if things are slow. A continued marketing presence keeps your name in front of people you need to influence and enables you to take business away from less aggressive competitors who have curtailed their marketing efforts until the overall marketplace improves.

Take a Long Run Management Approach: As long as your company is in it for the long run, match this goal with a long run management approach. Since the economic outlook for the rest of 2008 is dicey, your competitors as a whole are likely to be cautious about spending and hiring. This doesn’t mean you should shy away from opportunities when they present themselves. Take a cue from Wall Street: Be a contrarian. Buy when others are selling. In a downturn, your competitors might not capitalize on opportunities. If you have the resources, a downturn sometimes provides a stealth cover for your growth moves. If you have a chance to hire an experienced employee or install high utilization, low-risk equipment that could make a big difference, check your cash flow and if possible do it.

Move in and Fill the Void: When other businesses are pulling back, take advantage of this opportunity for your company to move in and fill the void. Most of your customers are facing tough times as well. Now is the time to provide them with expert guidance, reassurance and advice on how to manage through this temporary slow down. Achieving growth during uncertain times sends a long lasting positive message to your employees and customers.

What Can Grow Sales, Inc., Do for You?
Charting a course for aggressive, intelligent growth can be difficult. Grow Sales, Inc., has been helping printing and other graphic arts companies handle their growing pains with ease since 1996. Whether your company is in transition, the middle of an upswing or seeking help to get there, let us put our sales and marketing leadership to work for you.

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