Revenues are declining. You are managing variable costs, but you need to increase sales. The sales and marketing component of the business pan can be broken into two segments: new customers (clients) and existing customers (clients). Marketing plan strategies often are directed at attracting new customers through centers of influence (relationships established through networking, collateral businesses, or associations) referrals, customer referrals, creating new relationships, and internet strategies including social media. All of these in one way or another require a commitment of resources that can be substantial.
Sometimes the most efficient marketing plan strategy is to ride the horse that got you here. Where resources are tight and time is short, the best short-term reaction to falling sales is to contact existing customers.
In general, what you want to determine is what is going on from the customer point of view. Is the customer satisfied? Could new products or services be offered? Customers may not be completely candid, but direct conversations will be helpful in understanding the situation. Surveys, especially if conducted by third parties, can be more revealing. Surveys can cause irritation or aggravation unless there is an appropriate reward for participating in the survey (this reward should involve further interaction with the business through coupons, credits, or discounts).
Keeping in contact with customers in a variety of ways will help you understand what other opportunities may exist for expanding services or products with your existing customer base. This will be the quickest and least expensive avenue to maintain or increase revenue when overall revenues are falling.
