Feeling battered by the recession? What’s a marketer to do when budgets are slashed and resources are thin? Making every advertising dollar count takes some planning.

Define your audience
Who is your target audience, and what is the value proposition you’re delivering to them? The answers to these questions are always key, but in a recession, there’s no room for guesses or, worse, errors. Ads must contain the right message, be targeted to the right customer and be placed in the right vehicle at the time the customer is ready to buy.

Use channels that deliver the best ROI
When budgets are tight, you can’t afford to be everywhere at once, so be where you’re most effective. Look for cost-effective options in which the audience is pre-qualified and actively seeking the products you sell. And remember, “ROI” doesn’t mean “CPC” or any other payment method. ROI isn’t about how you pay, it’s about what you get: i.e. achieving your desired results.

Use social media
Online communities and blogging are emerging as effective new ways to connect to customers. We at MediaBrains have created a powerful new tool for BtoB marketers: Business Chatter on Industry Directories. It’s like Twitter, only highly targeted and focused on BtoB. Let prospects know what’s going on in your company, talk about the benefits of new products, etc. But keep it real. Readers quickly see through commercials disguised as conversations.

Keep in touch with existing customers
Relationship building doesn’t mean bombarding customers with phone calls. Instead, provide useful information to them in non-intrusive ways, such as forwarding an email with an article about breaking news in the industry. You keep your name in front of them, while supplying knowledge that helps them in their jobs.

Up-sell
Existing customers are more valuable than ever during a recession. They already know and believe in your products and services. Don’t overlook them. Dedicate time and resources to keeping your existing business and cross-selling to your current customers. Use your knowledge of their business to re-connect, stay in touch and demonstrate the value that you bring.

Get feedback
The best way to find out what customers want is to ask them. It sounds simple, but it’s a tactic that marketers often overlook. Every business has changed over the past few months. Make sure you’re in touch with how your clients’ businesses are adapting.

Improve your website’s usability
If there’s any time you want customers and prospects to be able to easily buy products and get information online, it’s now. Also, don’t overlook the basics: like having your contact information up-to-date and prominent on every page of your website.

Marketing during a recession isn’t impossible, but it does require careful planning. Taking the right steps will ensure you have the best advantage now…and when the economy rebounds.

What are your marketing strategies for riding out the recession?

Tags: Budgeting, ROI, social media
Posted in Marketing and Advertising | 2 Comments »