The economy is in the dumps, and it look like is going to stay that way for awhile. That doesn’t mean you should cut your marketing. On the contrary. Companies that maintain (or even increase) their marketing spend during bad times come out better in the end.
However, while maintaining your marketing spend, be sure to spend smarter. Here’s how:
- Tighten your target markets: Are the clients you targeted before the right ones? Rather than spend money on a national campaign, concentrate on regional ones. Rather than a general email blast, build a targeted promotion, and you will get better results.
- Keep in touch with clients: Leverage the power of email newsletter to keep in touch with current clients. Show them that your business is strong, and be sure to include ideas of how you can help their business during the downturn.
- Offer samples: Everyone loves something free. This is more true during an economic malaise. Offering a free sample of your product or service will attract new clients to your door.
When times are tough, savvy businesses maintain their marketing spend and look for every advantage so they will be better off when the economy eventually regains steam.