How to Market During These Rough Economic Times

Looking for ways to stir up some business but know that you have to be wise with your marketing dollars - here are 6 great ways to help you get started.

Now is not the time to stop marketing in fact it is a great time to market as long as you know how!

1. Focus your marketing. Use directed marketing methods when possible. Direct marketing media can typically be tracked and monitored. Tracking will ensure you are getting the most value from your advertising. Be sure your advertising uses a call to action to get customers to contact you. Offer prospective clients free samples or a gift for appointments to pitch them on your product or service. Then be sure to follow up with each potential customer. Remember, you have to work a little harder to win a customer in tough times.
2. Stay in contact with your current customers. Marketing professionals have proven it costs more to get a new customer than to keep an existing one. In tough times, go to your existing customers. Reward them with incentives; let them know they are important. You will most likely make up some of your slow sales by increasing sales to existing clients. Keep the lines of communications open and build the strength of that relationship. Bring back old customers with a welcome back offering or gift. Build the relationship so they will do business with you again.
3. Let your current customers help you. Word-of-mouth and referral sales can be extremely effective and cost efficient. Offer your current clients a gift or reward for sending business your way. Customer testimonials are extremely effective in gaining new business. Obviously, a satisfied customer is much more likely to talk about your business than a less than happy customer.
4. Look for free or inexpensive advertising and promotions. Consider using barters or trade-out for services with companies that can help promote your business. Be creative and think outside of the box! Tough times call for creative thinking. Use press releases when ever possible. Offering a new product line or making business changes can always be considered newsworthy.
5. Keep your employees happy. While this isn’t exactly marketing, it does work hand-in-hand with it. Your employees are your most important assets. Tough times affect them as well which in turn affects your business. Recognize their efforts. Reward them for going above and beyond their duties. Help them understand their importance in the company and let them sing your praises to potential clients. Your employees can be extremely effective marketers when they are happy.
6. Use the Internet. Finally, one area that businesses are realizing untapped potential is in Internet marketing. Use your website to your fullest potential. Advertise it on your company vehicles, business cards, flyers, billboards or anywhere you promote your company. Over 60% of Americans now use the Internet. If your business does not use the Internet, then you might want to rethink your strategy. The Internet is here to stay and it will continue to grow exponentially in the coming years