17 Jan Marketing in a Slow Economy
Many marketers will tell you: In a slow economy you should spend MORE on marketing! I say spend LESS, but market MORE. How? First you get very focused and efficient. Communicate with all of your existing clients and referral sources in a cost-effective manner. Examine your website statistics carefully and redesign or revise your landing pages to increase your conversion rate. Capture every lead no matter its origin. Follow up on every inquiry. Identify your top ten prospects and study them. Study their problems, study their industries, and send them something that will help them. Plan to be at the top of their minds when they need your services.
If you still have time after you have done all of that, examine the advertising you did last year before signing up again this year. Do these messages reach your intended market? Do the ads speak to your prospects’individual needs? Do the ads say more about YOU than they say about your clients needs? Remember your clients and prospects won’t care about YOU until you demonstrate first that you care about THEM and their problems.
And lastly, MEASURE everything. Every marketing program should have a built-in method to measure its effectiveness. If you have already built this function into your past marketing efforts, then look at those metrics and consider discarding those that didn’t work. Don’t repeat mistakes! If you didn’t measure, revise these ads to include some measurement technique. Call me if you don’t know how.