It’s time to double down
If you’re like most business owners, you’re probably trying to figure out how to keep marketing your business when things are looking bleak. Lots of people think that cutting advertising will save them – but in reality, marketing is more important than ever when times are tough. Why? Because people are still spending money – they’re just being more choosy about where they spend it. Here are five marketing strategies to keep your business growing:
1. Keep your marketing message focused on value.
When people tighten their belts, they want to know they’re getting the most bang for their buck. Offer customers something of value that will save them money or make their lives easier. Discounts and coupons are great and might just keep the phones ringing. Make sure that your marketing communicates the value of your product or service – what will it do for them that they can’t get anywhere else?
2. Do a collab
Partner with another business that compliments yours to cross-promote each other. Host an event that will generate buzz and invite other businesses to participate. Collabs are fun and will expose your business to new audiences.
3. Take advantage of social media
Social media is a great way to connect with potential customers and build relationships. But don’t just post on social media – engage with your customers. Find your customer’s social channels, and participate in their feeds. They’ll notice, and reward you for it.
4. Focus on existing customers.
It costs far less to keep a current customer than it does to acquire a new one, so make sure you’re doing everything you can to keep your existing customers happy. Send them special offers, give them exclusive access to new products, or just make sure they know how much you appreciate their business.
5. Get personal.
In a recession, people are looking for businesses they can trust – so make sure your marketing conveys a personal, human touch. Show that there are real people behind your business and that you’re committed to providing a great experience. Focus on targeted marketing and really connecting with your customers.
Get creative with branded merch and swag (You knew we’d have to mention swag, right?)
People appreciate useful gifts that help them accomplish a task or solve a problem. And they appreciate the person that gave it to them. Be thoughtful. Branded merchandise is a walking, talking billboard for your business. It’s a great way to get your brand out there and keep it top of mind with potential customers. Generate some buzz.
Bottom line: Be patient, and be realistic. Don’t expect instant results – good marketing takes time to pay off. Keep on plugging. Customers are still buying, they’re just being more careful about where they spend their money. Consistent marketing will help you stand out from the competition and build brand awareness.
In a recession, marketing is one of the few things you can control – so make the most of it.Image by Gerd Altmann from Pixabay