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Smart Marketing And Sales Tactics During A Tight Economy

Anita Campbell of Small Business TrendsAnita Campbell of Small Business Trends | October 2nd, 2008 - 11:14 PM
(16) found this useful. Do you? Yes

Marketing techniques in down marketsWe can all use a little help every once in a while, especially in times like these. If your small business is searching for marketing and sales tips to not only survive, but thrive, during economic downturns, you’ve come to the right place.

We’ve created this roundup of 10 resources to help you market and sell — and thrive and be successful — during tight economic cycles:

- The National Federation of Independent Business offers solid suggestions for surviving economic slumps. They include: offering complementary products or services such as lower priced items; looking for bargains from vendors you buy from that add to long-term ROI; and stepping up marketing efforts by using search engine optimization tactics to build online awareness and supplying information to journalists and bloggers for publicity purposes.

- Marketo’s Jon Miller provides 7 strategies for B2B marketing during a recession that includes a focus on lead generation, landing page optimization and appealing to the nervous buyer — just to name a few.


- M. H. “Mac” McIntosh of SalesVantage.com advises how to use your marketing dollars more effectively in a down economy. He shares ways to cut cash outlays in areas of websites, trade shows, direct mail, marginal investments and more. Start to trim the fat!

- Anthony Pappas, CEO, Pappas Group, has some branding tips for you, too. He examines the value of loving your core customers and ramping it up online.

- Ready to turn things around? Kim T. Gordon and Entrepreneur.com says, “When the economy takes a tumble, don’t let your marketing go down with it. Stay standing by retuning your message.” She offers several marketing steps to take to endure tight times.

- At The Marketing Catalyst, Bruce Allen provides ten tactics to drive success during an economic slump.

- At Harvard Business School Working Knowledge, John Quelch provides eight tips to marketing your way through a recession. While the article seems geared toward larger businesses, many of his tips apply equally well to small businesses.

- Neal Mendelsohn CEO of Fourth Wall Marketing and Jeff Seabold CEO of CS Financial speak with “Money for Breakfast” in this Fox Business video on the topic of how to market in a down economy. Among the great lines in this video: “Relationships outlast transactions” and “Embrace technology .. you need to understand how people communicate online.”

- Laura Pasternak, President of MarketPoint, LLC explains how to make lemonade out of lemons with her 8 strategies.

- Read Eric Holmen’s commentary titled, “You, Me And The Economy … Nine Months On” in which he discusses the importance of embracing new media tactics.

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Posted:

11:14 PM on Oct 2, 2008
By: Anita Campbell

 

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Comments

  1. Mary Grace Ignacio | October 3rd, 2008 at 2:29 am

    Wow. There are a lot to read, Anita. Thank you for sharing these.

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  3. Don | October 3rd, 2008 at 7:10 am

    These sites make for some interesting reading. I could use some tips and direction for marketing in these rough times. I will come back to this over the weekend and read the links thoroughly. Thank you for finding us the best info Anita.

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  5. Gen | October 5th, 2008 at 5:54 am

    In my recent interview with Michael Gerber, (best selling author of “The E Myth” and “The E Myth Revisited”) I asked if there is a magic bullet for small business. The Guru of small business replied that if there is a magic bullet, it has to be the implementation of systems in business, no matter their size.

    In these tight times, it is not just about smarter marketing, it’s also about running your business smarter and more efficiently. Gerber tells us that business, afterall is just a collection of systems. The marketing system is just one.

    In this interview, Gerber reminds us to get back to basics - its about understanding the customer - the demographics and the psychographics.

    We need to remember, business is all about the customer. Focus on their needs and how your business satisfies their frustrations.

    The article above talks about branding and marketing. In times like these where we need to take care with our spending dollar, we need to ask, if our spend is about us or is it about the customer?

    To your success
    Gen Yan-Colebourn
    http://www.start-up-a-business.com

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  7. Kelly Hayes | October 7th, 2008 at 2:04 pm

    I especially enjoyed The Marketing Catalyst tips by Bruce Allen - a refreshing take on some strategies old and new. I think the “Feed YOur Clients Sunday Dinner” hits home in particular. Customers and employees are reading and seeing so much doom and gloom in the media. They need business leaders to help reassure them. I wish our government leaders would offer up some optimism - it’s easy to get tied up on the negatives, but I think we may need to get moving forward if we want to overcome the problems.

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  9. Joe | October 15th, 2008 at 12:26 pm

    In my experience, when budgets are tight, the right decisions regarding marketing shouldn’t be about cutting funds or expanding funds, but it should be about focusing and fine tuning where the available funds are going. Direct marketing with appropriate promotional products has proven to draw more targeted sales leads and potential business than all traditional advertising. Many large Fortune 500 companies spend millions on “brand marketing”, but when stock values and budgets are shrinking at alarming rates, perhaps it is time for those companies to shift their marketing monies to more niche markets and to use marketing tools that are more likely to generate a response.

    Joe
    President/CEO
    Executive Brand, Inc.
    http://www.execubrand.com
    (866) 583-4713

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  11. Bibhash Choudhury | October 25th, 2008 at 6:51 am

    I have been reading and also watching about the overall amarican crisis and the bailout package which Mr Bush had has given to over come the crisis but even those efforts are too small to change the overall sentiments of the market and and the market is going from bad to worst . we in India have grown up on US movies and stort books about superman and how amarica as a nation was formed and being the only superp[ower every country directly or indirectly is effected with the US slowdown . I am not an economist or an astrologer but as a layman i feel amarican cosumer industries should take up the lead and make the markets lively so that people again starts buying for which they have to come out with popular products which hits back at hose lethal words like depession Bust and the lexicons attached to todays situation like you come out with Deodarant, soap , anti resistants , antiseptics detegents which uses the lexicons liberally and turns them into unimportant words which creates doubts in your mind

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  13. Kelly | October 27th, 2008 at 8:18 am

    Bibhash,

    I agree that the main stream media in America has been working hard to help create this downturn in many ways. Focusing on negative news has become the normal method of television networks and newspapers.

    Currently, with the popularity of one presidential candidate, I don’t see a big improvement likely since their entire party is focused on pointing out the negatives of our current system - even now instead of offering positive changes, they are pointing their fingers.

    The only “change” I see that might help is a change to positive reporting and an end to focusing on how bad things are, how bad they have been, and how bad they are going to get.

    Perhaps more than ever, Americans seem a little unsure about the right way to move forward. We are heavily criticized for doing so much of what we do, then when we slow down and stop a bit, we are again criticized for the impact it makes on other countries. We can’t win for losing as the old saying goes.

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  15. Smart Marketing And Sales Tactics During A Tight Economy | We Love... | October 31st, 2008 at 9:05 am

    [...] Read the whole blog on Open Forum >> [...]

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  17. Your Publicity To You » Blog Archive » Smart Marketing And Sales Tactics During A Tight Economy | November 27th, 2008 at 5:36 pm

    [...] Anita Campbell of Small Business Trends wrote an interesting post today onSmart Marketing And Sales Tactics During A Tight EconomyHere’s a quick excerptIf your small business is searching for marketing and sales tips to not only survive, but thrive, during economic downturns, you’ve come to the right place. We’ve created this roundup of 10 resources to help you market and sell — and … [...]

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