With the volatility of the stock market, the credit crunch and a slowing economy, it is very difficult to maintain your company's sales let alone increase it. But there are some simple things you can do, and I will show you how in this article.

#1: Mine Your Customer Database
It seems obvious but most companies do not make use of the customer data they already have. Studying this information not only tell you if it is time to contact your customers for repeat sales, but it also identifies cross-selling opportunities among existing customers. For example: my company sells company logo shirts and custom hats. However, most customers buying logo shirts from us don't even realize we also sell custom embroidered hats! By marketing custom hats to the customers who buy embroidered shirts from us, and vice versa, we are able to create new sales opportunities!

#2: Find New Customers Similar to The Ones You Already Have
We sold some custom logo shirts to a volunteer program at a local court. They are funded by the federal government, and have just been funded again for 2008. We identified other courts in California that have the same program and are now selling to 2 additional courts! By analyzing your best customers, the business sector they are in, and the customers they serve, you can find new potential customers in similar business environment to target new sales. Oh, don't forget to ask your existing customers if you can use them as references.

#3: Explore New Markets
I always say there is a bull market somewhere on this planet! Here is another example. Due to the weakening US dollar versus the Canadian dollar, we are now selling our products to Canadian customers, something we didn't use to do before. We are also targeting companies that export their products and are doing extremely well due to the weak dollar.

#4: Re-examine Your Product Line
A weakening economy means consumers are spending less, and companies are watching their bottom line more closely than ever. Perhaps it is time to examine your product offerings. Are there products that were once popular but are now unsuited for the new economic environment? Should you double your cost reduction effort to increase your margin or delay a price hike? Are there new, complementary products you can add to your existing ones so you can sell them to your existing customers?

#5: Increase Your Marketing Effort
A weakening economy means more competition for fewer customers. Getting in front of your customers becomes more important than ever. Some simple and cost-effective ways include:

a) Email marketing: make sure to include USEFUL information the recipient will benefit from. Otherwise it goes straight to the trash can.
b) Direct mailing: a post card size direct mail containing product incentives such as sales and mark-downs will keep your customers interests in your company.
c) Get free press with new products by submitting press releases to relevant trade magazines.
d) Call your customers periodically to inform them of new products, sale opportunities, or just to say "Hello".

It is likely that the economy will slow down in 2008. In order to maintain or increase sales you have to creative and persistent. Devise a plan for each quarter, execute, then review and revise plan accordingly.

Jackie Or is the owner of The Promotion Factory, Inc. Her company provides custom logoed corporate apparel, embroidered shirts, and custom baseball hats at wholesale price points.

Source: www.ezinearticles.com