Ok, so the bad news is that the economy is down. No real newsflash there. Every day we see blips of the president pushing the stimulus plan, companies chopping half of their workforces, shuffling unemployment lines. However, last week, couture designer Hermes, reported a 6.2 percent increase in sales coming off the holiday season. Louis Vutton saw an increase of 4.2 percent. And today, sitting at the local Bad Ass Coffee shop, I watched person after person come in and drop $5 for a drink they could make at home for a fraction of the price. Why? Because they can.

So then, what’s the good news? Businesses can actually take advantage of this situation! Traditionally, when enduring hardships, companies cut costs, staff, and production-often times against the better judgment of economic and business advisors. This may result in immediate financial gratification, but does nothing to secure a financial foothold in future markets (and as we currently see, the economy). Instead, you should be ramping up your marketing and public relations efforts. By focusing efforts and finances on increasing your company’s voice, you’ll correlatively augment customer spending. And, a bonus, you’ll have done so without laying off hundreds, if not thousands, of loyal workers.

Zappos is a great example of the right way to conduct business. When forced to make a decision about where to take the organization after facing decreasing numbers, the company’s head shed changed tactics. Instead, they focused on marketing to current clients, improving customer service, and establishing an almost incomparable return policy, with 365 days to return unused products, and without having to pay shipping. I have to say that I’ve only bought one pair of shoes from Zappos, recently, but will no longer look anywhere else.

What steps are you taking to reach out to current and new clients?

Jaylyn Bergner