Posted under General
The last five years have been glorious. All my 30+ friends that own houses were living large and loving it. Gucci purses, weekly spa treatments and lavish vacations.
It is very reminiscent of the mid-90’s when all my friends were
working at AOL and planning to retire on stock options at 30.
And here we are facing a recession. Many businesses, large and small, are quick to cut marketing budgets in these times. Luckily, small business owners are a little more flexible in budget adjusments than corporations.
According to Terry Brock, Marketing and Technology Coach, “Tough times have a lot of benefits for those that have that indomitable spirit to succeed. What many don’t realize is that tough times create enormous opportunities for those willing to seize the moment.” (http://www.terrybrock.com)
Be creative in your marketing. Its likely your competition is setting out to cut their budgets as well. Take advantage of that opportunity to shine.
Here are some money saving tips to staying on top:
• Negotiate ad rates. For print publications, you can pick up remnant ads which is unfilled space that crops up before they go to press.
• Create targeted campaigns. Really define your target audience and work on campaigns to reach them directly and creatively so you are not spending willy nilly without a defined message.
• Create word of mouth opportunities and incentives for existing customers to bring in potential customers. Make your customers your sales team.
• Send emails. You can email tips, helpful resources or discounts. Email blasts are cheap and people sign up for them if they think they are going to get something free.
• Put it on the web. A website is hands down the cheapest and handiest marketing tool. If you have one, update it and if you don’t have one, get one. It is the main way most people get their information so make sure they can get yours.
• Provide great customer service. I can already tell you that you can beat your competition on this one. Customer service is severely lacking these days and creating a positive customer experience will win you business. Period.
Even if you are feeling the pinch of tough financial times, don’t let on that you are. Stay on top of things, keep your existing customers happy and get in the minds of new and potentional customers so when they have money again, they will give it to you!
All the best!