Cut Marketing in a Bad Economy? No Way!11 Feb, 2009 By: Roger Jung imageSource
Cut Marketing in a Bad Economy? No Way!
You might be asking yourself if you can afford to market in a bad economy. My
answer is, “How can you afford not to!”
The fact of the matter is, we’re in a recession. No one denies this, not
even our soon to be former president. So when I recently posed questions to a
room full of business owners asking, “During tough times, do you cut
advertising? And if so, how much?”–as suspected, I received a lot of different
According to an article in Small Biz Technology, "In a slow economy the one
thing to boost is sales and marketing - without sales and marketing your income
will decrease as most customers will buy less and less from you, and more and
more from your competition."
Now think about those companies that are actually increasing their
advertising efforts in a bad economy. Could this strategy help you drive some
of your own competitors out of business?
This is definitely not a great time to fall off the radar and you definitely
don’t want to lose your business to the competition, or give your customers the
perception that your business ship is about to sink In my opinion, the answer to
this question is quite simple. Keep Marketing! Finding and utilizing a good
marketing strategy that is highly targeted and cost effective is the key! A
highly targeted marketing campaign puts your marketing dollars right in front of
your decision maker. This is not the time to cast a big net (general
advertising) in the middle of the ocean, right in the middle of a hurricane (bad
economy) and hope to hit a school of fish (one phone call). This is the time to
utilize technology (World Wide Web and good online marketing services) to find
your big fish quickly. This is the time to spend your marketing dollars on
marketing initiatives commonly referred as One-to-One Marketing.
Today’s challenge is still about building a relationship with customers, but
on their terms and in their world. One-to-one marketing treats each customer as
an individual. The most effective way to build a relationship with a client or
prospect is to identify his or/her needs and provide a solution that is most
appropriate for their business. In other words, dealers need to cater to their
message so that it speaks directly to their prospect’s business needs.
Yet to customize your marketing message to each customer or prospect takes
time and money, right? Well, not really, marketing solutions such as Evolved
Office will affordably allow users to utilize the power of the Web to create
professional marketing campaigns that relate to your current and potential
customers, catering to their needs and wants on an individual basis. Evolved
Office’s Dealers are able to target their existing clients with electronic
newsletters (cost effective), find new business with custom tailored marketing
pieces (Vertical Post Cards) and even Close More Deals with sales support
collateral materials that will empowers your sales team.
Business owners and marketing strategists all have their own opinion as to
which approach to take, but there is one thing that they all agree on. As the
economy turns, many will fail; but those that play their cards right will be
golden. Keep marketing!