Want to learn more about the businesses in your area?

Then come to the Spring Business Showcase at the Bellingham Sportsplex. 
It will be held on April 1st from 4-9 pm.

The cost without a ticket is $5  so stop by and pick one up!

Tickets are available at Gateway Centre Executive Suites:
1313 E. Maple St.
Bellingham, WA 98225
(behind Boomers and Diegos)

Tickets are also available at the Chamber office:
119 N. Commercial Street, Suite 110
Bellingham, WA 98225
360.734.1330

Gateway Centre would like to welcome two new executive tenants into our fold: Access Real Estate Services and Century 21 Bay Properties.

Access Real Estate Services can assist with real estate sales, referrals, and consultations. They also specialize in association management, including accounting with online access, strategies to build reserve funds, and non-profit tax filing.  Learn more at: http://www.gwcentre.com/pages/tenant-directory.aspx?trid=97

Century 21 Bay Properties provides real estate services for home buyers and sellers in Whatcom County, Semiahmoo, Birch Bay, Lynden, and surrounding areas. Learn more on their website: http://www.c21bayproperties.com/.

by Steve Marr

The current economic downturn is affecting every business and we all need to make adjustments to connect with today’s changing customer demands. Customers are establishing new priorities and are reducing their overall spending.

It is important to understand these two key factors:

#1 — The psychology of customers is changing.
#2 — What worked during past recessions may not work in today’s hard times.

You may be tempted to go along without changing your business, but King Solomon wrote, “How long will your fools fight the facts?” (Proverbs 1:22 NLT).

The stream of bad economic news is eroding confidence and purchasing power in dramatically different ways. Many businesses now understand that a lot of sales growth was based on customers living beyond their means. Today, customers face a mountain of bills, unemployment, falling income, reduced retirement savings, and more. Businesses need to respond to these new realities.

Customers on Hold

Some customers fall into a “freeze mode” stopping, postponing, decreasing, or substituting purchases. Customers falling into this category are typically lower income or are the more affluent that have become scared or unemployed. Price and need are now the keys to reaching these groups.

Advertise your best price and promote special deals. In addition, consider offering lay-a-way options, which can induce buying. Also, if possible, offer do-it-yourself options. One hardware store promoted do-it-yourself projects as a way of encouraging customers to spend a little and still get the benefits they wanted. Moreover, try offering smaller packages at a lower price point to trigger buying.