3 Cost Effective Strategies to Keep Your Marketing Up When the Economy is Down
These days it's difficult to avoid all the economic bad news – spending is down; Costs are up; Credit is tight. Although times may be tough for you and your customers, whatever you do, do not stop marketing! Now is the time to do more rather than less.
If you're worried that you can not afford to market, here are 3 no excuses, cost effective strategies to keep your marketing up when business is down.
1. Work Your Network. Networking works! Go to more events. Visit those groups you've been meaning to check out. Invite someone to attend an event with you. Ask for an invite to a group you've never been to. Meet with referral partners. Schedule coffee and lunch meetings with people you've been wanting to get back in touch with. Get on the internet and join some online networking groups. Connect and re-connect.
2. Focus on Follow-up. Pick up that phone! Contact every lead you have not had time to follow up with, no matter how old. What about all those inquiries from people who never purchased? Give them a call too. And do not forget all your former clients. This is a great time to check in and see how they're doing. After all, you've got nothing to lose and plenty to gain.
3. Connect with Clients. Show them you care! Make an extra effort to stay in touch with your current clients. After all, they're what keeps your business going. Let them know how much you appreciate their business and their loyalty. You may reward them with a gift or special discount. Getting repeat business from people who already know you, like you, and trust you is easier than marketing to strangers and starting from scratch.
To increase your chance of marketing success, create an easy to follow written plan. It can be as simple as a statement of your goals and the actions you will take to reach them. Choose any of the cost effective actions listed above.
Of course writing the plan may be easier than implementing it. If you want to see results, you'll need to take consistent, repeated action. We recommend you commit to doing one or more marketing activity every day for the next month before you assess your results.
Using these three cost effective marketing strategies will help insure that your business does well, no matter what is happening with the economy.