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RISING WOMEN EXPERT
ADVICE...
How do I market effectively in a slow
economy?
Is the economy starting to recover? That depends on who you listen to. In a
slow economy, a small business owner needs to plan a more aggressive
approach to sales and marketing. Small business marketing strategies are
constantly evolving, especially as technology evolves. Traditional
advertising strategies that worked five years ago may no longer be effective
in today’s markets, therefore you should regularly evaluate your small
business marketing strategies
In a sluggish economy, the purchase of “luxury” items declines. If your
product is not considered a necessity, you need to go back to the basics;
you need to solve a problem, satisfy a need, or make life easier in a
cost-effective manner. Remember the cliché “going the extra mile”? It’s
necessary to meet your customers needs.
So how do we effectively market in a slow economy? Step up customer service
and communication regularly through newsletters, emails, Social Media and
mailings. Don’t focus on your product features, rather focus on how your
products or services are helpful and cost-effective to your consumer. You
want to build and maintain your relationships with existing customers who
will remain loyal when the economy recovers.
Consumers always want to feel good about themselves and a purchase. This is
more evident in a slow economy. Promote attractive offerings, both in
appearance and in value. Be creative in meeting needs. Not only do you want
the customers to buy what they need, you want them to have a reason to buy
it from you.
Mix traditional advertising with modern strategies. The key is to integrate
all forms of advertising and find a marketing mix that works for your
business. To get the most value for your money, and to successfully create
an integrated traditional and new media strategy, consider hiring a
professional writer and graphic designer to create a brand “headline” for
all your campaigns that are strategically designed to capture your
audience’s attention. Remember, you have on the average only three seconds
to capture the attention of your audience, and by creating a consistent
message (or brand) throughout all your marketing campaigns increases the
chances that your audience will recognize you more readily. With the right
strategy and target consumer, your small business marketing efforts will be
successful.
Renee Clydesdale of Impressions By Renee |
