Marketing Budgets
Because of the recent economic difficulties many small business or home based business owners look to their marketing campaigns to make come budgetary cut backs. However, historical data indicate that cut backs in marketing can be difficult to recover from even during the recover period. Keep reading and I’ll share five marketing recession proof strategies that can boost your business.
Recession Marketing
McGraw-Hill Research published a study awhile back that followed 600 different companies from 16 industries over a five year period. Their efforts and spending in marketing was the main focus of the study. The data showed that the companies who either maintained or increased their marketing spending during a recession experienced 256% growth while companies who made cut backs only grew by 19%.
Step Up Your Game With These 5 Strategies
1. Take a good look at where you are spending your marketing budget dollars and make sure you aren’t wasting any of it. If your marketing campaigns do not provide solid measurable data on cost per lead, cost per sale and lifetime value of a customer you might as well burn the money.
2. Preemptively address your leads’ concerns and provide solutions in any copy you put out. Consumers are much more careful about where they spend their money during an economic recession. By addressing these concerns up front you are preventing your leads from making those objections.
3. Review your UPS (Unique Selling Proposition). Does it really set you apart from your competition? Does it explain how your business will benefit your leads? Develop a powerful USP and pull your leads into your personal story. Remember, today’s consumers respond much better to a personal touch than a hard sell.
4. Seek out specials, sales and bargains that are being offered by marketing campaign providers including leads lists, printing costs, media and shipping costs.
5. Look into using new media outlets to send out your newly revised and powerful USP. Direct mail campaigns, radio ads and even local TV commercial are all great avenues.
Opportunity for Growth
By using these marketing recession proof strategies you can turn a difficult economic time into an opportunity for growth. While consumers do change their spending habits during an economic recession, they will continue to spend. Grab their attention and show them why spending their money on your business is the prudent choice.
Have you been struggling with finding the best marketing recession proof methods? I can help you learn how to start protecting yourself and your financial future from the current economic depression. Don’t wait until it’s too late! Also published at Discover 5 Marketing Recession Proof Strategies That Can Make You More Money In Any Economy.
