I really think that you get what you think about. When you worry about competition, slow business, then that is what you get. In reality there is plenty of business to go around for everyone. In a changing economy it is important to look at what you are doing and make the necessary changes so your company can grow irregardless of the economy, competition, etc.

When you make an effort to offer excellent customer service, educate your customers on new and innovative products, and always work with honesty and integrity it will come back to you many times over. The definition of insanity is, “doing the same thing over and over and expecting a different result”. If what you are doing now is not working, then maybe its time to try a different approach. There are so many different ways to advertise and market a business. It is time to get creative and eliminate the competition. If you create a niche market, offer a seminar on how to save money, save water, go green with your plumbing, etc… you will differentiate your company from the competition.

When your customers know that you will show up on time, perform the necessary work, charge a fair price, and offer information on innovative products and services that they may benefit from having, they will stop trying to get the lowest price, because what the customer really wants is someone they can trust and depend on and that is worth paying for!

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Instead of waiting for the customer to call you, why not call them?  Target some of your local businesses, walk in and introduce yourself.  Let them know how you can help them save money or solve a problem that you are an expert at solving in the neighborhood.  Offer to do free plumbing inspections as a preventative maintenance promotion.  Each business you get into will probably be happy to post your business cards or brochures so all their employees will have a great plumber too!  Contact property management companies, apartment complexes, local restaurants, etc…  If you visit 2 companies per week for 50 weeks, that would be 100 new prospects.  When you leave brochures and business cards with them, that could become 1000 new prospects.  If you get 2% response that could be another 20 customers.  It is all a numbers game.  So come on and get in the game.  Try something different and see how it works.

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The brutal reality is that some companies are going out of business or they already have.  So, you can go through the yellow pages and call up your local plumbing companies and find who’s number has been disconnected.  Go to the local phone company and buy the number and have it ring at your office.  Someone is going to pick up the business, it might as well be you.

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How are you getting in front of your customers?  Lets face it if they can’t find you then there is a problem.  Some companies appear to get stuck thinking that effective advertising and marketing has to be expensive.  The traditional “yellow pages or bust” thinking has got to go!  There are so many innovative ways to promote your company and some very effective strategies are very cost effective.  The one I always go back to is doorhangers.  You can get 5000 doorhangers for about $300.  If you are not busy, then hand them out yourself, it’s a numbers game.  One person could hand out 5000 doorhangers in 2 months part time.  If you got a ½% success rate that would mean 25 new customers.  Doorhangers are one of the most simple and cost effective ways to promote your business, period!

Other strategies to look at are Free on line advertisement like Craigs List.  You need to update these on a daily or weekly basis, but its Free and it works!  Sponsor a soccer team, baseball team, footrace, etc…  Buy space on the local baseball field backstop.  Movie theater advertising, shopping carts, small local newspapers and the list goes on.  Try something new that you have not tried before.  But whatever you do, make sure it will get your company in front of new customers over and over and over.  It takes repeated impressions to develop “top of mind awareness”

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Why is it I ask myself that even in this “challenging economy” some companies continue to prosper and grow and others are struggling to stay above water?  I believe that there are many factors that contribute to the success or failure of a company.  First of all when conditions in the economy change a successful business learns to adapt and change with the conditions.  If you make changes in your marketing, advertising, services and products to better fit the economy you may just find a strategy that helps you grow your company even in this economy.

Lets start with services.  Have you looked into getting on board with a home warranty company?
I have spoken with some plumbers that do this and they say it is a great way to grow and expand their business.  The other thing you can do is offer your own priority service program that customers pay you to get top priority service, discounts, etc.

If you can show your customers products and services that help them save money, and/or be more “Green” you are providing a valuable education and your customers will appreciate it.  Find a green product that you can promote.  Offer a special to your customers and get some testimonials.  You could showcase a new product every quarter and mail a postcard, email to your customer list, or use it as a promotional piece to attract new customers.  There are all kinds of new devices like tankless water heaters, water savers, automatic shutoffs, leak detectors, re-circulators etc…  If you go out there as the expert in your neighborhood and you do it with honesty and integrity, this will help you build customer loyalty and create income from innovative products and services that most plumbers I have used did not even mention.  If the customer doesn’t know a product exists, they probably won’t buy it!

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