Brooklyn's Progress Express
Volume 1, Issue 2

By ATIM ANNETTE OTON

With stocks dropping fast and the apparent failure occurring in the both the financial market and foreclosure market a real recession seems to be looming. But dare I say it: don’t panic! Instead, small business owners should become pro-active and make some creative changes. It is, after all, the time to step up your game to keep customers buying and continuing to do business with you. In my vigilance to grow my business during this critical stage, I can share with you what I have been doing since Bear Sterns collapsed.

Space Considerations
Even with the economy looking bad, I decided to go ahead with a planned renovation and expansion of my store space. Rather than postpone it, it gave me an opportunity to create more space, display products better and expand the clothing section of my business model that I scheduled. The results are in: I have successfully added more customers and given my existing customers a better shopping experience. As one stroller mom said when she saw the ramp – “Great, now I can come in without a struggle,” which told me that the little things, like a ramp, are bonuses to my clientele.

Increase Marketing
In turbulent times, most businesses reduce marketing spending. For me, this is the time to increase it, though I have been more selective and creative in going about it. The key is target marketing – but there is the catch. Do not go after new customers first; instead market to your existing ones. It is much harder to find new customers that it is to make your existing base come back to you more frequently. Your existing customer is familiar with you, your business services and products. In my business, I offer my clientele discounts, special sales, gave them new products and incentives to continue to shop with me. I can see that it has paid off, as August numbers, which are generally slow, were above average.

Hit the Road
Some small business owners spend a good bit of time convinced that their businesses must stay in one location. I see it differently - when I take my show on the road to trade shows, street fairs, festivals, and business events, I meet new customers who live in my backyard and often do not realize I was just around the corner until they see me across town. I also meet existing customers who enjoy the added bonus of shopping outside the store. On the road, I find I try new things and showcase the products differently, resulting in faster sales on products that were doing moderately in the store.

Increase Activities and Events
The best medicine for a stagnant economy is networking. I have increased my activities about 30% from last year by doing more events, meeting more people and participating in business activities. The end result is not immediate – for me, it is about long-term. My networking has been about connecting with more organizations, attending workshops and partnering with others to increase my circle of influence.  Even after four years, I find that networking is a core part of my marketing budget and strategy. It grows my business and helps brand awareness of my company.

Update Your Web site
I have just updated nearly all of our Web site in the last two weeks alone with the goal of increasing marketing and sales outside our physical location. This update included adding more products and opening our deliveries to Canada (we had been delivering to the U.S. only). This update also involved marketing the Web site in Yahoo and Google Search engines, two key locations. It also meant finalizing drop-shipping relationships with other companies to add more products to our Web site and serve more customers without having to store the products at our location. The results so far are increased Web traffic and a few more Web purchases.

Atim Annette Oton is the co-owner of Calabar Imports, a retail shop for unique African, Asian, and South American home furnishings, fashion clothing and accessories, jewelry and aromatic products in Prospect Heights. She can be reached at info@calabar-imports.com.