A year ago we published a paper on marketing in a down economy. We identified 11 key tactics. I am sharing them in this blog over the next few weeks, but if you want them all at once you can download the paper free.
Tactic #4 is to focus on profitable accounts. The trap of marginal business dooms many companies. Use this time to focus your attention on profitable accounts and release un-profitable ones. You only have so many resources and you must deploy them in the most effective ways. There is an inherent aversion to “firing” customers. But sometimes customers cost you more than they bring. Should you call your customer up and inform them you will no longer sell to them? NO! But, stop assigning your top people to an unprofitable customer. Reassign your people to focus on providing added value to the customers who will respond favorably (and profitably) to your attention.