In these uncertain economic times, consumers and businesses are understandably giving careful consideration to every expenditure. There’s a good chance that your business has some strong prospects who have yet to take the next step and become customers, or some previously steady clients who have backed off on their activity. But even with buyers keeping a tight rein on spending, there are five steps you can take to nudge them into action as part of a business development strategy, without a significant marketing investment.

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1. Convey a sense of exclusivity. Accelerent, a business development and networking organization in the Baltimore/Washington area, limits its membership to just one business in any given field (for example, one bank, one dry cleaner). By doing so, Accelerent has virtually guaranteed that when it has an opening, local businesses are clamoring for the spot. “As part of their sales approach they let people know there’s only one spot,” says Michael Webb, president and founder of Atlanta-based Sales Performance Consultants, which worked with Accelerent.

   Similarly, if you can create urgency in the customer’s mind, you can drive a faster buying decision. The limited-time offer is a marketing classic, not surprising since it taps into a very basic emotion — people hate to feel like they could miss out. With modern tools like a customer database and email, a business can spread the word instantly. Smaller businesses can apply these principles as well to business plan development. Webb cites a gourmet pizza shop in his area. “They created a club where members receive a newsletter and discounts,” he notes. Other retailers could try similar approaches such as frequent-buyer cards or invitation-only after-hours parties with exclusive offers.

2. Vary your offerings. With spending on the decline, businesses that offer high-end specialty services or luxury products are particularly vulnerable. John McMahon, publisher for SalesVantage, an online b-to-b marketing and sales management resource based in Rutherford, N.J., describes how his company made a needed change: “People aren’t marketing as much on a cost-per-click basis, so I had to adjust my offering to make it more based on cost per lead.” SalesVantage also has added services such as creating microsites for clients.

   Retail and even home-based businesses can apply the same tactic. For example, a jeweler that’s seeing business drop off could expand into repairs, or add a line of moderately priced products. A home repair contractor could consider adding smaller jobs to its menu of services, jobs that might not have been worth their time when the economy was booming and bookings were filled up.

3. Demonstrate the value you provide. One simple reason buyers hesitate to make a purchase is doubt. They wonder if their need will truly be met once they’ve spent their money. SalesVantage implemented sophisticated Web tracking software that shows its clients the precise path that specific visitors followed to their site, as well as the action they took once on the site. “Instead of doing cost per click, I charge for actions that lead to a desired result,” McMahon explains. Because of the tracking software, he says, “clients know they’ve gotten sales directly from us.”

   Businesses that aren’t suited to such a data-driven approach can achieve the same effect from a credible customer testimonial. Ask loyal customers if they’d be willing to write a comment you can use on your Web site, in exchange for some freebie.

4. Know the customer base. Drew Stevens, president of Stevens Consulting Group in Eureka, Mo., says a big mistake many organizations make is failing to consider their demographics. “I worked with a company in Tampa that was trying to generate leads and was focusing 98 percent of their efforts online,” he says. “But they said their target customer group was people 58 and older.”

   According to Webb, a common mistake many growing businesses make in b-to-b marketing is overlooking the complexity of organizations. “You might need a case example that speaks to the chief financial officer and points to the financial impact of not solving a problem,” he explains, “and another for other departments.” Stevens points out that marketing departments often have valuable customer satisfaction research that could help sales personnel in their jobs, but they fail to share the information across the organization. Be sure everyone is on the same page.

5. Remove any barriers. Are you possibly missing out on sales and business because you’re not making it easy enough for customers? Even simplifying your Web site, taking the consumer’s eye view, can make a difference. “You want to make it as easy as possible,” Stevens notes. Following up with prospects is also key. Stevens cites statistics showing that more than three-quarters of the time, sales professionals fail to follow up with a potential prospect.

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