Move the dial. Thatís what you want your marketing program to do, even in the best of times. But today, many businesses are slashing their marketing budgets, and thatís a bad idea. Why? Because proactive marketing during a recession pays off. Companies that continue to invest in marketing will see growth, or at the very least will be in a better position when the economy turns around.
Take Proctor & Gamble pushing Ivory soap during the Great Depression for example. The creation of the radio soap opera to promote P&G products could be viewed as an early form of the social media platforms that smart companies are using today to engage and stay in front of their customers.
That said, my best advice to those with a limited budget is to figure out whatís working and whatís not. Then shift funds into smart, creative online marketing and public relations strategies Ė namely email marketing, SEO, online PR and social media campaigns. These new digital marketing tactics are cost-effective ways to communicate directly with consumers, as well as with bloggers and journalists. Add social media to the mix, and you will multiply the effect while developing ongoing interactive relationships with your customers.
Our recent success stories include an online PR campaign for the Georgetown Business Improvement District to increase visibility for French Market, an annual two-day retail event. Online and traditional media coverage drew buyers resulting in a 25% increase in merchantsí revenues over last year. Also, the Finale Desserterie Mother/Daughter Look-Alike Contest, promoted through traditional, online and social media, created quite a buzz with 224 contestants and over 2,000 votes.
Donít miss your opportunity to stand out and gain market share during a time when your competitors may not be doing much at all. Give me a call, and Iíll show you how even in a recession, you can move the dial by using minimal marketing funds to get maximum results.