
Over the past few months, business owners and entrepreneurs haven’t exactly had the enthusiasm of the media around them. However, here in the Inland Empire portion of the U.S., things have become increasingly bleak due to our unbelievable foreclosure rate. In Rancho Cucamonga, since we have so many homes that have been built within the last 5-7 years, we’ve seen a dramatic number of homes fall into foreclosure. It is because of this, our city is full of luxury homes that all sold for around $800,000+ that are currently sitting vacant.
I recently walked through one foreclosed luxury home in Rancho Cucamonga (that previously sold for over $1.5 million just a year ago), and the previous homeowners had gone so far as to take anything and everything of value out of the house. I’m not talking about just the appliances either. These desperate homeowners took out everything from the custom cabinetry to the little brass knobs that went on them. They took every single bathroom fixture in the home (out of all 7 bathrooms), including all faucets and knobs. They tore out all of the homes built-in ceiling speakers, they even went as far as to take some of the door hinges off of the doors, perhaps because they are made of metal that can be recycled. This beautiful 6 Bedroom, 6,000 square foot, $1.5 million dollar home sits pretty much gutted, on almost an 1/2 acre of mountain view property. Who would’ve thought?
I guess it’s just a sign of the times. We’re hearing daily reports of layoffs, cutbacks, falling 401k’s, and of course foreclosures. This kind of economy is a true test of every business’s staying power.
Just as the dot com boom and bust ending up weeding out all of the businesses that weren’t as solid, from the ones that would go on to make millions; we are now seeing another wave of economic trials that will seperate the strong from the weak. Now, more than ever, businesses need to start thinking outside of the box. Things that once worked great for your company’s marketing, may now hardly work at all. Your target demographic will shift their attention to other things during economic hardship, and your job is to figure out what that is. Not only being agile and flexible, but being quick is the key to this strategy.
Many companies have found success in offering incentives and extras, to persuade their buyers that this purchase is the right thing for them, right now. This story posted in the Daily Bulletin is just that. Regarding offering incentives, the article states something very true!
“In fact, it might behoove some local dealerships to get the most creative bang for their marketing bucks if they want to stay alive over the next few years. “
Depending on your industry, incentives don’t have to huge. Small gestures often make a big impact on new and frequent clients and customers. A thank-you card, a small box of chocolates, a gift certificate, and of course the discounted price. Ford Motor Co. is offering pick-up truck rebates worth up to $8,000, coupled with other discounts, to reel in customers.
“Manufacturers and dealer associations have begun using more “guerrilla marketing” tactics to combat slower sales, where marketing teams set up tents at malls and give away T-shirts, music and prizes to participants. You can generate traffic from that stuff, but it’s not going to sell you too many cars,” he said. “The consumers are a little cranky right now.”
Shameless Plug: If you’re interested in getting serious with your business in these tough times, give us a call or shoot us an email! We’re always glad to help, even if it is just a free consultation…because we know how crazy it is out there right now. : )
- Your friendly neighborhood (actually, national) Internet Business Consulting firm.





























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