Doing Business In A Challenging Economy - Foundation Finance

Doing Business In A Challenging Economy

In trying economic times, when unexpected external influences radically affect day-to-day operations, businesses need to adapt to quickly changing circumstances in order to survive.

The home improvement industry relies on the purchasing power of its consumers. During times when the consumer buying index is down, it’s your cue to turn the focus on your business.

Follow our business-centric tactics to stay strong:

1. Adapt

Tough times don’t always call for tough measures, they call for creativity. It’s time for some brainstorming. Think outside the box on what you can do right now to adapt your business and your employees to current circumstances. Tap into feedback from customers and employees. Talk to 3rd party businesses. Use this input to re-adjust your business strategy. Foundation Finance has a superb dealer support system that can help you!

2. Be different

If your business is going to prosper in tough times, you need to continue to strengthen and expand your customer base. But, how? Stand out by offering something different than the competition does. Whether it’s a way in which you do sales pitches, conduct yourself on the project, or even answer the phone, be the business that stands out from the competition. Foundation Finance has new specials that will not only differentiate you, but help your customers get through their financial challenges, too.

3. Be visible

Where are your customers spending their time during an economic turndown? Wherever they are, that’s where you should be. Most likely, they’re online. Make sure you’re showing up in Google searches by updating your Google Business listing, adding articles to your blog, posting on social channels, maybe even running a sweepstakes or contest that gets your customers involved now for a potential reward later. And don’t abandon your marketing efforts! Now is the time when consumers are hypersensitive to their favorite media channels. Foundation Finance is providing dealer specials that will make your customers swoon!

4. Communicate

In tough economic times, communication to customers and prospects is important. Businesses that were open yesterday are closed today and that prompts customers to seek out information on your business the quickest way possible: online. Make sure to post current business status, contact details, and an empathetic message to reassure customers you’re here and you understand current challenges. Talk to them directly through email and text messages.

Your business is more than likely impacted by the current changing environment. Foundation Finance wants to support you and your customers in any way we can. We have new specials and accessible resources to help you, including a dealer support team prepared to answer any financing questions or concerns you may have.

Foundation Finance can help you close more sales. Leverage the power of competitive and convenient financing–every time you call on a customer! Contact us today for more info: 1-855-241-0024, [email protected].

Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").

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