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Five Ways to Step Up Your Marketing Efforts During Tough Times

By Dana Blozis

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Published: 26Jun2008
Word count: 692
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Every day we are bombarded with how dismal the economy is. Fuel and food prices are rising, while real estate investments and paychecks are declining. Although it may seem illogical, this is the time when you should be stepping up your marketing to make sure you get a part of the ever-dwindling consumer pie. Why? Because customers make choices. They can buy from company A or company B. They've bought from both before because they have similar products or services with comparable prices and customer service. The differentiating factor is often which company is at the forefront of the customer's mind or who is running a special or a sale. If you stop running ads now, they might forget you...but they won't forget company B because she is running her print ad in the community newspaper every Friday just like clockwork or airing her radio spot during afternoon rush hour Monday through Friday.

Try these five marketing tips to step up your marketing efforts in a slow economy without breaking the bank:

Tip #1: Rethink your marketing copy. Make sure it appeals to customers who might be feeling the economy's slowdown and that it hooks them so they take action now. Give them a reason to think of you first. For example, try this ad headline: "Gas prices got you down? Stop in today and get a $25 gas card with a purchase of $XX or more!" or "Bring in your government stimulus check by July 4 and receive double the face value in home improvements!"

Tip #2: Bundle your products or services. Since some customers will have to forego nonessential purchases now, you may have fewer customers. Make the most of the ones you have; encourage them to spend more by bundling your products and services. "Escape today! Treat yourself to a manicure and pedicure for just $25." "Super savings this weekend only - Buy 2, get 2 free!"

Tip #3: Maximize your e-mail marketing opportunities. With so many e-mail marketing services clamoring for your business, e-mail marketing has become very affordable. Send a graphically appealing, postcard style e-mail to your customers once a month listing your monthly specials. Include a coupon at the bottom for an additional discount. Most services allow you to track the number of opens and link clicks so this is a great way to see what works for just dollars a month.

Tip #4: Capitalize on cross-promotion. Find a business that complements yours and partner up on marketing opportunities.

(a) Pool your pennies to buy a larger print ad featuring both of your businesses. (b) Offer coupons, discounts or bag stuffers for the other business at your store. (c) Include them in your e-mail marketing or postcard campaign. (d) Share a booth at a community fair or trade show. Market two businesses for the price of one!

Tip #5: Fine-tune your customer lists. You may have a little down time this summer, so outsource the inventory sorting and window washing and spend your time fine-tuning your marketing list. Sort by preferred communication type (postal mail vs. e-mail), purchase level, preferred products and services, zip code...whatever will help you to target your marketing messages to those particular buyers. If your lists are incomplete, take the time to get the rest of the information. If you have an e-mail address but not a mailing address, send a friendly e-mail asking if they would please provide that information so you can be sure to include them when you send out your next round of coupons, catalogs, special invitations, etc. As an incentive, offer a discount or free gift when they reply with that information. [Bonus tip: Be sure to include your website address in your e-mail and add a marketing tagline at the bottom. "Ask me about our July specials!" or "New merchandise just arrived!"]

Try these five marketing tips to keep your business afloat during the tough times, and you'll be surprised at how a little extra effort can pay off.

Copyright 2008 by Dana Blozis for Virtually Yourz

Dana Blozis, owner of Virtually Yourz, specializes in creating and implementing affordable marketing plans for small businesses and nonprofit organizations. For more free marketing tips, subscribe to her monthly marketing newsletter here.

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