BVR's friend Gale Crosley reminds all appraisers that marketing is most essential near the bottom of a downturn. But, she says, "that doesn't mean expensive dinners. You can sell the value of your services just as well at Starbucks."
Here's an example of the kind of dedicated "focus" Crosley recommends
Targeting your buyer group has never been more essential. Let’s imagine your target is the dental community. You need to “drill” down, specifically identifying the subset of dentists whose needs you are prepared to serve.
One possible target might be practitioners who were about to retire, but who have put their plans on hold due to the economy. What are their immediate needs? What service could you provide that would respond to their changed situation?
Another possible focus might be dentists just out of school and establishing a practice in an economic downturn. How do their accounting service needs differ from those of an upscale cosmetic dental practice that now finds itself relying on routine procedures like cleanings and fillings to stay afloat? Here’s the takeaway – if a buyer group isn’t buying, look for one that is. Become an expert in it and craft your solutions to correspond to its specific challenges