How to Market in a Down Economy

Sure, times are tough for all of us right now and marketing budgets are being cut up like a bad kindergarten craft project. Of course we don't recommend cutting the one thing that will keep you on top when the economy is back on track (and we know it will be), but we understand that's just the reality for many businesses. Instead, we want to give you some tips to help you make small changes that can make a big impact right now.

Our NurtureNotes newsletter for September has the Top 10 tips for marketing in a down economy so be sure to sign up now and get free marketing tips delivered right to your inbox every month.

Today, let's talk about three small changes to help get you started.

1. Rethink your messaging.
Are you spending lots of money to grow your business right now? If so, congratulations! If not, you are in the same boat as most of your customers. Instead of going on and on about benefits that aren't on their radar right now, focus on the things that are important to them – like money. Shift your messaging to solve their problems, not sell your product or service. Their problems are a lot different today than they were just a year ago. Even loyal customers are looking for ways to cut costs, and that might just be with your competitors.

2. Mix up your marketing.
It's easy to get stuck in a marketing rut. What worked in the past doesn't seem to be working as well right now and that's for several reasons. Your prospects are scattered all over the place and you are supposed to find them how? If you only use email campaigns, try a few direct mail pieces. Not a fan of social media? It's time to become one and soon you will have some fans of your own. Never thought about old school telemarketing? You would be surprised how effective a personal call can be these days. If you don't have the resources to explore new marketing avenues on your own, hire a professional marketing firm to help you out. (We happen to know a great one!)

3. Dress to impress.
This goes beyond traditional marketing tactics but deserves a spot in our Top 10. A first impression can be everything and it's critical to find new ways to differentiate your company and your brand. Whether you are greeting a customer on the phone, in your office or in theirs, think about the image your front line is portraying. In a business casual world, become the designer suit. Polish up your image whether it’s how your receptionist greets your visitors or callers, revamp your website to welcome online visitors, or ask your sales staff to take it up a notch next week.

Have some tips of your own to share? Be sure to leave a comment below. We enjoy hearing from you.

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