Cultivate a sense of urgency. Making your wine business recession proof requires a proactive & creative approach. A recession proof company is flexible and creates opportunities where others see only doom and gloom.
Focus on the 20% of your clients that deliver 80% of your profits. Do you know who those 20% are? A recession proof company understands its cost drivers.
Leverage hidden value with your existing customers. Offer outstanding customer service. Satisfied customers not only buy more, they recommend. Word of mouth is a very powerful marketing tool. When did you last ask your customers if their needs are being met?
Build a psychological barrier to exit. Be more aggressive with your marketing. How powerful is your brand image? Peace of mind is a strong disincentive to experiment with unknown suppliers.
Exploit the internet. Integrate the web into your marketing mix. Create a forum or user group. Email newsletters and blogs are powerful marketing tools & very cost effective.
So, what strategies does your winery have to avoid a recession?