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Tips for Doing More With Less in a Down Economy
By Sarah Pearson Published: 02/02/2009
With the economy in the shape it is, nearly every business – and especially small businesses – out there have had to cut spending. If you have not had to do so yet, you are one of the very lucky few! For the rest of us, though, cutting spending is one of the ways we go about trying to make sure our business's head stays above water when the economy takes a turn for the worse. One of the first things to go is usually the marketing budget, which can be seen as dispensable – but marketing is even more important when the economy is in bad shape, because you need to be actively out there and hustling to bring in sales and profits.
With that in mind, though, there are things you can do marketing-wise that won't cost an arm and a leg. All it takes is a little common sense and some elbow grease, and you can both keep your current customers around and bring new ones in.
Here are some ideas:
1.) Focus on your customer service. Great customer service doesn't have to cost an arm and a leg. Being polite and flexible goes a long, long way.
2.) Get online. You probably have a website, but are you taking advantage of all of the booming social networking sites out there? Building a profile on MySpace and Facebook for your business is free and easy, and it will get your name and your brand out there for many more people to see. Squidoo, LinkedIn, and Twitter are three other places you should check out and get involved with. You may be surprised by the results!
3.) And speaking of getting online, how's your company website doing? Keep in mind that customers' tastes change rapidly, as does the technology of the day, so having an outdated, outmoded company website can really work against you. Giving your site an overhaul may not be free, but it's not something you can avoid if you want to keep your web presence effective – ESPECIALLY if you rely on Internet sales for any portion of your profits.
4.) Consider adding a blog. Whether you add it to your company website's domain or you start a free one with Blogger or WordPress, a blog is a great way to put a face behind your company and offer useful, valuable information to readers about your specific products or services. It will help potential customers trust you and if you update regularly, it will also help drive traffic to your site – and all it has to cost you is some time.
5.) And of course check out our advertising page for many different options that will drive very targeted wholesale buyers to your site!
These are just five ways you can do more marketing with less budget, and in today's tough economic times, that's definitely advice we can all use.
