Are you searching for the perfect gift she will love? When economy headlines has you scared, don’t run. Many small business owners have knee jerk reaction to cut your budget. While cutting unnecessary expenses proactively is smart business. Cutting your marketing efforts could drastically impact your business. Review and revise your recession proof marketing strategy. Retool your marketing efforts by committing to shorter term plans. Adapting business strategies to increase market share and return on investment.
Follow these simple steps to give your company an economic stimulus:
1. Asses your customer’s perception
Review your customer’s perception of your company’s offerings. Are your products viewed as a need or a want? Many consumers are tightening their belts which also affects the behavior of how small business buys b2b services as well. How are current market conditions affecting your sales? Large dispensable luxury items may be cut out while smaller priced items may be viewed as “comfort purchases.” Remember people buy emotionally.
2. Measure your ROI
Track all marketing endeavors with metrics. There are many ways to measure your ads from coupons to specific promotions. Use free online tracking software such as Google Analytics to give you insight into your website traffic and measure your conversions. Make sure your marketing campaigns are targeted at making the sale. End unnecessary branding campaigns that generally have ambiguous results. Focus on acquiring new customers with products and services they need at prices they can afford. Remember perception is everything.
3. Market to current customers
Current customers are looking to current companies for the “safe buy.” Predictable pricing, service and comfort will help you retain your current clients while they are watching their limited budgets. It generally costs less to market to your current client base than acquiring news ones. Retain your clients with frequent contact via e-mail, direct mail, and phone calls. Keep your company top of mind without being unwelcome. Focus on incentives for current clients to bring referrals to gain additional business.
Share your strategies with other small business owners. Which marketing strategies are working for your small business search marketing plan?
Written by Brian M. Schoedel http://smallbusinesssearchmarketing.blogspot.com
