Good advice on surviving tough economic times from the virtual assistant folks at Team Double-Click® …
I do want to draw special attention to one thing … We didn’t stop marketing or selling. Let me say that again. We DIDN’T STOP MARKETING. In fact, one of the shifts we made was to take budgeting away from backend systems and move it over to sales and marketing. I attribute our ability to continue to grow and thrive during this economic mess, not only to cutting back in some areas, but also to stepping up our marketing.
Now’s the Time to Market More
Marketing can be even more effective in these tough times as competitors cut back their budgets or fall by the wayside. Less noise in the channel. And companies that appear to be prospering (because they continue to market) provide a perception of success that’s all the more attractive in these doomy/gloomy economic hard times.
Now’s the Time to Market Smarter
But, be prudent. Negotiate everything. Look for performanced based models both online and off and be sure that whatever you invest in is trackable. No more advertising on the back of cash register receipts – it’s not trackable. Code all your advertising so that you know when people respond where that response originated. If you’re using PPC strategies or you’re driving people from offline media (print advertising, broadcast, direct mail) then be sure and drive prospects to a dedicated landing page, not your home page. Use Google Analytics to track the conversion rate of your Pay Per Click campaigns. If you’re using a YellowPages or magazine ad or using postcards be sure and have the responder mention the ad by rewarding them with a special discount or premium.
Look for opportunities to expand the reach of your message without spending a whole lot (or any) additional money. Investigate and invest in local search, use Craigslist, link up on LinkedIn, Twitter & claim your space on Yelp, start a tips or howto email newsletter with signups on you website if you’revirtual and your counter or tabletop if you’re not…
In other words, dollars are precious so don’t waste any of them and, if you don’t know whether your marketing/advertising is working or not, then you’re wasting your money!
How Are You Surviving in This Down Economy?
Leave a comment with your best ideas to survive a down economy.
