This Little Piggy Went to Marketing…
Times have changed. People are hunkering down and learning to live within their means. They are foregoing weekly dinners out, opting to stay home and have movie night instead. They are shopping more and more at Discount stores like Wal-Mart or Target and even small scale discount boutique shops (see Bloomberg News).
In today’s environment, it is NOT chic to overspend or to be wasteful. Personally, I think its a good thing to live within your means and its good to have conversations with your kids about the VALUE of creating a budget and STAYING on a budget. But what if you’re a business owner, or an entrepreneur? How does this affect you?
Here’s what I’ve noticed. The minute that financial times are tough, the first thing that gets cut is excess spending, and most people count MARKETING in this venue.
Should you be concerned? YES! Why? Because there is a way to market yourself without spending much money, and yet most people give up on marketing themselves and when times change, money comes in and they start up again, they’ve already lost a wide audience. Those that stay in business are those that continue to reach out to their consumers. Those that continue to MARKET themselves and their services. If you’re going to give up traditional OUTBOUND marketing strategies (cold calling, TV or print ads), you need to replace with INBOUND marketing strategies such as engaging videos, websites, blogs, social networks, search engines, etc. (see The Customer Collective).
We are so lucky to have online marketing. Companies are flocking to the internet to let their clients know about their products. They hold raffles, give-aways, community fund raisers, etc, to engage the client. A prefect example of this is Dell - There they are, bright as day, engaging their consumers! Become a fan, they ask, and if you do, you will find out all about their promotions. “Great!”, you say, but I’m a REALTOR (or a lender, or sell dog biscuits). “It wont work for me!” I beg to differ! Look at these examples: GMAC has created a Facebook Fan Page and are giving their clients community information. The Canal Fultons community page focuses conversation on reaching out to the COMMUNITY and not talking all about themselves! The ALL-ABOUT-ME mentality is gone and you need to shift as well. So, I say, make adjustments to your budget if you must, BUT replace what you’re giving up with new engaging online marketing strategies. Interact and win!
Guest Post by: Amanda Wernick
