09
Jun
09

Put your Money into Marketing…Especially in a Recession

Easier said than done. Or is it? Many business owners find it difficult to allocate dollars to marketing, whether they’re starting up or growing their business. However, the name of the game these days is lead generation.

The question becomes, “How am I going to keep my client base or find new consumers?”

If you are starting up your business, you are probably struggling to raise enough capital to just open the doors. However, costs today are lower than years ago. On businessweek.com, Your Startup on a Shoestring” holds true even as our economy struggles and banks tighten up their lending process.

Look to the Internet. Establish your Web site, and even do this in steps if necessary to keep costs down. Cap your pay-per-click (PPC) campaigns and budget your dollars. This article also has some great money saving tips and provides great recommendation, such as “put as much of your money into marketing as possible”.

If you are an established business trying to grow or just maintain, the same is true. Look to the Internet. Evaluate your Web site. Maybe it is time for improvements. Explore social network opportunities. Get involved. Create a PPC campaign. Update your promotions and coupons.

On entrepreneur.com, the article Win Sales from Recession-Minded Consumers discusses “3 ways to woo shoppers this summer”. You know it is all about savings!

  1. Market Special Promotions
  2. Modernize Coupons
  3. Woo Stay-at-Home Shoppers
coupon

coupon

Just think, coupons are back. And, by popular demand! This article highlights that “nearly 80 percent of consumers surveyed in the 18-to-34 age group say they’re much more likely or somewhat more likely to use coupons if they can download them and have them automatically connected to an electronically swiped frequent shopper card.” That is something to think about.

dell couponAnd coupons are not just for consumers. Dell has coupons for small businesses online.

In times of recession, we must be creative and continue to think of ways to reach clients and consumers to build relationships. Talk to your audience online or at an event. In the article Recession Marketing All About Connections, the author recommends face-to-face connections to build credibility. Hold an event and promote it though your social media networks. Promote your business at a trade show. New and old ways of marketing can be combined to keep costs down and maximize exposure.

There is a lot of good conversation and advice online for B2B and B2C. You will notice writers continue to talk about Internet marketing and social media. Why? I believe it has to do with putting clients and consumers in the driver seat and putting your money into marketing channels where you can track results immediately.

How are you allocating your marketing dollars? What results are you seeing? Let us know and we may share your story!


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