HOW TO MARKET YOUR BUSINESS IN A TOUGH ECONOMY: A CHECKLIST
All too often in an economic slowdown, the first thing businesses will do is cut their advertising and marketing spend. This is now universally acknowledged as a BIG mistake. Now more than ever is the time to ensure that your business or service is ahead of the competition. Here are some approaches which have been followed by various businesses.
Remember, even in an economic downturn businesses can still gain market share, mind share and continue to grow.
Consider all media options available in particular “new media” like website advertising.
Rather than sell a service or a product, look at selling a solution or goal. Understand your target clients, what motivates them and how best to reach them.
Always differentiate your product or service from others by selling the subtle differences.
Remember that customers are not loyal when discretionary income starts to disappear. They will choose the best value and most desirable experience. If your company provides that they will buy from you, if not they will buy from your competitor.
There is a good chance that your competitor may pull back on ad