Marketing in a Down Economy
The economy is tougher than before. Sales are down and a lot of companies are closing down. That’s the harsh reality but there are still things you can do that will help you sustain your business in this tough time. Even if a lot of people are cutting back on expenses, at least five out of ten people will still buy from you. As a business owner, you need to reach out to these people and influence them to buy from you even on a meager marketing budget. How do you do that?
First, evaluate your marketing campaign. Get rid of the unnecessary marketing materials that don’t deliver. You can try to do them again when the economy picks up and you have enough resources. Stick with the materials that give you the best results. Make sure they stay on top of your list so you can implement them right away.
When evaluating take a good look at the campaigns you did in the past. Determine what worked before and what didn’t. This will help you take away those that did not show good return on investment so you can concentrate your investment on those that provide the best results.
Second, don’t reach out to the entire market. Even if you have the best materials carefully created by your trusted online printers, you can’t just send them to everybody. This won’t give you good results. It’s best if you focus your effort on a well targeted group of prospects. Tell them the benefits and features of your products and services not general messages. Remember that the whole market is not your target market.
Third, go out and meet people. Attend networking events, tradeshows, business meeting, community activities, and other events. These are good places to meet new contacts. You don’t have to spend a fortune to go to these events. Just being your business cards with you and perhaps a few flyer and brochures which you can hand out to people. Be sure to design your materials well and include the important details about you and your business so you can encourage your prospects to take a look at your offers.
Fourth, speak out. You can be speakers on meetings, seminars, and conferences. Speak in prominent events which will help position you as an expert in the field. This will help you generate prospects which later on can turn into one of your loyal patrons. You can hand out a copy of your presentation after the event with your business card so interested people can get in touch with you.
Finally, increase direct mail. Direct mail remains an effective marketing strategy. This will allow you to deliver your message to the right audience at the right time. Instead of using colored mailers, you can use business letters to cut costs. Make sure though that you have a good mailing list so you know that the people you send your mail to will likely be interested in your business. If you need to print your direct mail piece creatively, there are overnight printing companies you can hire which will help you produce your materials in the best quality but affordable price.
Be sure to evaluate after every campaign. This will help you know if your strategy worked or if there are changes that need to be done. This may be a difficult time, but will the right strategy you can easily beat the difficulties and emerge successful in the end.
John Ray Daniels is a specialist of brochure printing and is also a web designer. He is knowledgeable in printing and continues to support the developments in the field to help out companies in their business marketing needs