Hoping to survive the economic downturn? Don't Ignore These 3 Types of Customers

By Samuel Timothy, Vice President of OneIMS.com, an inbound marketing agency and co-founder of Clickx.io, the digital marketing intelligence platform.

As we enter 2023, the expected flow of economic forecasts is well underway. Some say the global recession is inevitable. Others acknowledge geopolitical and economic shifts, but try to find a silver lining.

However, we are all feeling the effects of the current financial crisis. But one thing is certain, now is not the time to retreat. Don't stop marketing and don't forget your customers in these difficult times.

Let's see how we can generate more B2B opportunities while remaining understanding, supportive and empathetic towards our prospects and customers.

Your customers and prospects feel it too.

Costs are rising for businesses, but consumers are suffering even more. Due to rising inflation and the cost of living, they feel pressured and forced to change their shopping habits.

It is our responsibility as entrepreneurs to think strategically. We must focus on long-term results and try to maintain relationships with our customers long after the crisis is over.

As a B2B company, you can still generate opportunities while remaining sensitive to your target market. How? By appealing to the following three types of customers.

1. Go back to your lost offers.

These are leads that you lost to competitors or leads that weren't ready to engage at the time and became inactive. Revisit these offers with a little nudge, reminding them that you are always there and ready to help them when they are ready. Show them your value as a business, how you can make their lives easier and help them become more profitable in this difficult environment.

2. Contact your past clients.

Take the time to contact past clients; ask them how they are doing and if there is anything you can do for them during this time. It shows them that you care about their success even after the sale. It also gives you the opportunity to learn more about their needs, so you can adjust your product or service accordingly. This helps build trust and loyalty, which can pay dividends later.

3. Reconnect with your old prospects.

Reach out to people who have previously expressed interest in your product or service, but never converted it into a sale. Ask them if they have any questions or if they need anything else from you so they can make a buying decision now or in the future. They may be able to provide valuable feedback, which can help inform future business decisions such as adjusting pricing structures, offering new products, introducing discounts, etc.

Understanding who your customers are and what their needs are is essential for any successful business, especially when budgets are tight and every penny counts. Focusing on these three types of customers (lost deals, past customers, and past prospects) will make it easier for businesses like yours to find opportunities, even in this uncertain economy. When the going gets tough, meet your customers' needs...