The economy isn’t exactly stellar and
the housing marketing is at a stand still. So, what does
this mean to you and your business? It means a couple of
things. First, if you haven’t been aggressively marketing
your business, you’re already behind the eight ball.
Second, it’s important to learn what you need to do
to ensure success in a slow economy.
Research has shown, over and over, that the successful companies are the ones
who maintain, or better increase, their marketing activities during slow times.
Typically, one of the first things to be cut during a slump is marketing. So,
while the competition is cutting back and losing market presence, the ones who
step things up are the ones who increase their visibility. Plus, because of this
increased visibility, they’re poised to be in a much better position when
things start to recover. Often, they can overtake a top gun who cut their budget.
Here’s a few ideas to help get you through the tough times.
Build your prospect list without spending a cent
It’s always best to build your own list, rather than renting one. When you
build your own, you do the research and learn a lot more about your prospects’ companies
than just a name, address and maybe a phone number. When you know about your
prospects, it’s easier to tailor your message to address common problems
and challenges.
Talk to your sales people
They’re the ones in the trenches. Find out what tools (ads, brochures,
white papers, website landing pages, PowerPoints, etc.) work best to help sell
your products or services and allocate your marketing budget accordingly
Focus your message
Your company image and branding are important. But, if dollars are tight and
things are slow, don’t spend them on general messages. Instead, focus a
benefits-packed message with a solid offer and call to action toward a well-targeted
group of prospects.
Get some press
If you’re getting slow, consider using this time to put together your press
kit. Send it out to your local media and also trade magazines within your niche.
Also, look for things that you can put a newsy spin on and send out a press release.
Get back in touch with former clients/customers
Pick up the phone and renew some old connections. Maybe get together for lunch
or just coffee. Learn what they’ve been up to. Find ways to keep in touch.
How about an e-newsletter or occasionally emailing them some useful links to
articles, sites and such? Become a resource.
Get active
Join and get active in some community groups and/or business organizations. Get
on a committee or two. Or, better yet, chair them. This will increase your visibility
and get your name around. Working on committees also lets others see how you
work.
Provide speakers
Provide your company’s executives as speakers for business clubs and industry
meetings and conferences. It helps to position your company’s executives
as experts and you can generate leads by having audience members contact you
to receive a special report, white paper or other valuable information.
Find marketing partners
Consider teaming up with businesses whose products and/or services complement
yours. For instance, splitting the costs of a joint mail campaign might be just
the ticket. Plus, you can get more mileage by sharing lists.
Don't forget to forward
this newsletter to your business associates.
The
Odell Team
330 Schneider Street, S.E.
North Canton, OH 44720
330.499.3441 voice
330.499.0596 fax |
