Sales and Marketing during a Recession
How should I market in this Economy? How can I increase my company's sales and still market in a recession? Should I not advertise or is this a prime opportunity to advertise when most of my competitor's aren't advertising? Should I cut back or capitalize on the circumstances? Studies have proven that businesses who are standing on solid ground when the economy declines absolutely must continue to promote marketing and advertising their company to successfully maintain the growth they have already achieved. In fact, while continuing to advertise, their business will progressively increase over their competition whom have not chosen to advertise. This "smart marketing" places the company who continued to advertise in a paramount position when the economy turns around.
  1. Turn your advertising dollars into cash: Don't spend your entire budget on one venue. Build by way of several vehicles and venues. It's proven that placing continuous and consecutive advertising over a span of time gains the attention of the reader because it's seen over and over again. Choose an ad size that your budget will successfully support throughout an entire year. Re-visiting ad purchasing wastes time, effort and money! Show your boss that you're spending the company's advertising dollars wisely and saving time simultaneously.

  2. Additional Value: Offer "value-added" packages and give your clients a reason to choose you over your competition! Whatever your product or service is, make your customer feel like they are your "only" customer in time and attention. All customers want to feel as though they've been SMART about spending their hard earned money. Explain what they are getting with your organization that they wouldn't with your competitor.

  3. Know your client: What are the pros and cons of Mass Marketing versus Niche Marketing? Every company is seeking a proper ROI (Return on Investment). Spend less money marketing to those whom will never spend under any circumstances and spend more money on getting the word out to the "right" audience. Fewer people from the "right" audience will produce a larger bottomline than more of the "wrong" audience. Focus and concentrate on the people reading your ad! If it's an editorial magazine, it's been proven, subliminally all readers will notice your ad. They have to because it's amongst the editorial and photos they are actually looking at. In an editorial magazine, the reader doesn't have a choice. He/she MUST view your ad because of this. For example, if you are a company whom sells hotel space or apartments, diplomats are one of the greatest sources of revenue for this! They do regular delegations and are in need of living arrangements with flexibility all the time. Thus, they are spending the money anyway, why not spend their money with your company! Take an ad in a magazine such as: Diplomatic Connections - a publication diplomats and their staff read regularly!

  4. CO-OP your ads: Ad space and cost can often be shared with another company. You'll save marketing dollars at the very same time you are actually Marketing! You are now marketing smarter, not harder!

  5. Ask for editorial: If you purchase advertising space in a magazine, ask if you can gain some editorial space to tell more about your company! Then, it's as if you are getting two for one!

  6. Meet your clients and readers: Attend trade shows whenever you are able to actually meet and greet your readers. They want to meet you and you might potentially gain an enormous amount of business just from shaking someone's hand and making their acquaintance! It only takes a few hours at a trade show or networking reception to make a cold call into a warm call!

  7. Banner ads on websites: Studies have also proven that many people will click on a banner ad quicker than any other ad because it's right before their very eyes! Invest in different banner ads on different websites, they pay off!

Turn the advertising dollars you do have into an increased bottomline for your business and advertise!

FREE Digital Edition
See and read Diplomatic Connections Magazine
View Archived Digital Editions