Know-How Exchange : Strategy

In recessionary times keeping customers close should be job one. This means targeting in on selling more to existing customers, over delivering on commitments to existing customers and identifying the customer's own business issues.

It probably wouldn't be too wild of a supposition to say, your customers are facing a squeeze now too. You can endear yourself to them by working to provide a better value from you to them. And, it needn't be price.

Here are some ideas to build this:
Value Engineering - are there products purchased from you which could be replaced by a lesser product - from you?
Value Engineering - are there products purchased from others which could be replaced with a product from your company that is easier to install, maintain, use etc.

Process Improvement - are you doing everything possible to get your product into the customer at the right time in the right quantity? Just in Time delivery?

Process Improvement - Can you do kitting? pre assembly, or some other outsourced service that allows you to eliminate some of the labor costs? Or maybe another vendor?

Finally, you asked how to pull in more business on a low cost basis. The answer is via targeting. Here are a few thoughts on targeting:
1) What company is the best prospect for your product?
2) Who in that company is most likely to recognize the value you provide?
3) Which of these companies are most likely to successful navigate the recession?
I find that in poor economies, the customers who do switch their business to you are often companies who have poor credit with their current suppliers. They work to put you on the hook for credit in their final death throws before going out of business.