I spoke to client of mine the other day who was frustrated. They felt (in England at any rate) the irrepsonsbile media were stoking the fires to talk ourselves into recession. He felt that this was encouraging his customers to say to him, at ‘renewal’ time, ‘yes, we’d like to sign up for another year, but, y’know the credit crunch and all that, so can you reduce your rates’. They apparently give no other reason for demanding a decrease.
I asked him where he’d had this and managed to maintain his rates. It happened where he had a strong relationship with someone that relied heavily on what he provided. So, he manged to get them to fight his corner, basically saying, ‘how can we reduce anything for all this?’
So, the trick when faced with this, is to make sure you speak to everyone touched by what you do and build an emotional, as much as a financial case for continuing. There is a danger, of course, that you’ll find people aren’t as enamoured with what you provide as you thought. View this as an opportunity to get back in there and re-sell all-round, preferrably with even more.