Continue Your Marketing Research and Marketing MORE – Especially During a Recession
August 20th, 2012 by Diane Conklin under Uncategorized. No Comments.
You are probably reading the title of this article and thinking, “Marketing is the last thing on my mind.”
Times are tough. Many companies are eliminating jobs in the thousands, people are struggling to pay bills, and therefore consumer spending has decreased. The news is dismal. Don’t believe it!
As a small business owner, I am sure you are disheartened to see a decline in revenue, so naturally you start contemplating where you might be able to save money. As you begin looking at your expenses you like many other people zero in on your marketing expenses. Resist that notion!
Don’t rationalize cutting back on your marketing because you may think, “People know about us so I can afford to cut back,” or “People are not buying as much so I should cut back too.” The aforementioned statements may appear to be perfectly logical statements, but looks can be deceiving. This is the exact time when you analyze your completion, reevaluate and market more. Why? Because others will stop marketing and yours will stand out! Make sense?
Successful business owners recognize that this is not the time to cut back on their marketing. Why? These owners understand the importance of being part of their customer’s mindset.
So how does a company accomplish this?
First, you need market research to find out where your brand currently resides in the minds of your customers (if you are just starting out market research will enable you to identify needs that are not currently being met).
You then take the information obtained from market research and start promoting your products and services. The more frequently you market your products and services, the more you becoming a part of your target markets mind set.
Now is not the time to cut back on your marketing efforts. Try to maintain or if it is possible increase your marketing.
Now I am l aware that conducting market research and marketing can get expensive and time consuming, but there are several cost effective ways to help you gain the exposure trust and confidence that you need. Social networking sites such as Twitter, and Facebook are easy and free.
It is times like a recession that force you to become creative. Think outside of the box. Times may be tougher than usual, but customers will flock to those who effectively market and build relationships.
