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by Lucy Griffiths on 28th April 2009
During a recession, everyone has two objectives: save money and make more. Internet marketing is an effective way to achieve both objectives and here are 5 top tips for marketing during the recession:
1. Smart Spending
Experts at Harvard Business School conclude that spending on marketing and advertising is one of the best ways to beat the recession. But you must get the most for your money. Internet marketing has many advantages over traditional marketing, but the most obvious is the low pricing structures. Internet advertising and marketing are a fraction of the phenomenal sums charged by traditional marketing and advertising agencies.
2: Precision Targeting
Internet marketing helps you connect directly with your potential customers. This is a significant advantage during a recession. Instead of widespread blanket marketing (the expensive kind), you can target your market by the area they are in and precisely how they are choosing to word their searches for your products or services.
To ensure a smart spend, you can target your marketing to a geographic area and set a budget that you can afford. Once you’ve had time to analyse the results, you can make smarter spending decisions.
3. Measure It
To ensure the cost effectiveness, you must be able to measure the success of your marketing. This has traditionally been very difficult to gauge from a television advert or billboard. But online marketing is fully measurable. This means you can analyse how effective your various campaigns are and drop the ones costing you money but not delivering desired outcomes.
Google AdWords is one of the most effective marketing/advertising weapons in your contemporary marketing arsenal. It allows smart spending, precision targeting and measurable results.
4. Give It Away
You may have less money, but you still have another valuable resource, time. Marketing effectively during a recession means building credibility. This involves giving away your expertise for free.
If you sell “Red Widgets” and every time I’ve got a question about my current Red Widget, I find the solution on your website, then I’m much more likely to buy my next Red Widget from you when the time comes. Blogging and article writing are marketing activities that cost only time and build credibility, loyalty and a relationship with your potential clients that begins long before they make the decision to buy from you and continues long after they’ve given you their money.
5. Change Your Story
Your customer tells themselves a story when they consider buying your product. They imagine themselves using, and they tell themselves a story about the benefits that it will bring. Whether it’s new office equipment, a motorbike lift or a piece of software, they tell themselves stories.
But during a recession, the customer’s behaviour changes, the story changes and focuses on security and stability, but also a tiny sliver of hope that they can return to spending freely. When your customer’s story changes you must respond by changing the elements of your business that your customer uses to construct their story.
Even during these recessionary times, Koozai’s search engine marketing services still offer a cost effective to promote your business online. Find out more and if you’d like a no-obligation proposal as to how we could help, contact us to get full details and a risk-free SEO analysis of your site.