Just one little thought about the choice of “hiding out” or expanding your marketing in tough times.
There is merit in dedicating yourself to retention of existing customers in hard times. Because it is way more expensive to find brand new customers than maintain existing ones, and existing happy customers also get you referrals.
A company needs to consider then, how you retain those existing customers. You can send them a discount coupon, works for pizza, I guess. Maybe for ten free DVD’s of their next project? Whatever it is, it better not be a lowering of your rates!
My opinion is that you do it by reminding them of the relationship that exists, of reviewing their past successes with you. It’s like a marriage and you know if you’ve been married that you can’t take the spouse for granted for too long before things blow up! Same with clients. You have to stay in their subconscious in case they get a notion to do another project, or their eye may start to wander…. That involves spending marketing dollars as well. Just targeted a little differently.
OTOH, if your company just rolls up the carpets and turns the lights out and sits by the phone waiting for another call, well, that could be a long wait. Better to pick up that phone and call the last ten clients and tell them about the latest upgrade you gave the suite, how it will improve your graphics, or how you’re doing something brand new this year, like DVD authoring, you didn’t do last year. Or that you won an xyz award for one of your clients by using the new frannis plug-in by whosis in a novel way. An evergreen in hard times is to look at how to re-purpose their existing back catalog of projects to leverage the asset, make it do more work without having to start from scratch. I’m thinking something like compressing and porting over old videos to the web, converting them to podcasts, whatever. That’s just one option.
It doesn’t have to ask for a sale. It’s an informational call, updating someone you already have a relationship with, and sharing some ideas. You’re not doing a sales call. You’re problem-solving for a client. Who just happens to also end up paying you.
You and the client are going to get ahead of the ones who are just waiting for the rain to stop.
“Oh, you wanted to RECORD that?”