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Recession Marketing - Survival of the Fittest

Simon Eder - Monday, August 15, 2011

OK........so the market scares you right now. Will you freeze, pop your head in the sand and hope it disappears or take action? To make things work for your business during harsh economic times you may need to take different action to your competitors. The normal reaction to fear on the marketplace is to tighten up, reduce spending and sit and wait it out. Traditionally, the marketing budget is an area that business owners trim first. However, Dr. Sharan Jagpal, of Rutgers University and author of Fusion for Profit: How Marketing & Finance Can Work Together to Create Value, says bad times are the worst times to cut the marketing budget. "In a recession, it’s harder to gain new customers, to convince existing customers to buy more, and to win back customers who have left," he said. "So companies often need to be spending more money, not less. They just need to be smart about it."

(www.webpronews.com/bad-times-call-for-better-marketing-not-less-2009-01)

Your best chance of increasing sales during these times is to refine your target by focusing on the most likely market to need your services. Specialising makes you much more valuable than a general solution. As your competitors are most likely spending less on marketing, providers such as Google Ad Words and Facebook Ads charge less per click. This is because fewer companies are bidding for the same ‘clicks’ as you are making now the best time to spend what money you have on increasing your search engine optimization capacity and link building. Oolybooly can help direct more traffic to your website from the search engines if you require. By updating your website and making very clear ‘call to actions’, visitors will not only land on your site but will make an enquiry, purchase or make a booking.

Attracting new clients will be more difficult during these times as others will be looking at ways to reduce their spending too. Instead of focusing on new clients, try to re-establish relationships with existing clients. They are more likely to respond as they have dealt with you in the past. Reaching out to your database has never been so important. We can help you achieve this by email marketing through regular newsletters. If you haven’t already set this feature up, then call oolybooly. It’s not expensive and will certainly deliver results.

When was the last time you updated your website content? If times are quiet, then now is a good time to update the content on your website as this will help search engines find you on the web. Whilst writing the content, consider the terms people use when searching for your type of business. Again, it’s a relatively inexpensive way to bring traffic to your site. Wikis, blogs, twitter and social networks will also bring business and if all that seems too scary… let us organise for your business to be ‘talked about’ for you.

Now is the time to be smart about marketing…. Not scared. Call us now if you would like any assistance on setting up ways to stay afloat during these times.

oolybooly.com.au

 

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