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A slow economy provides an ideal environment for marketing

Author: lhaworld

Date Posted: February 1st, 2010

When there is a slowdown in the economy and business cash flow, the fact that marketing budgets are the easiest for companies to reduce quickly is not new. However, one of the major challenges of any integrated advertising campaign is cutting through the clutter of a saturated market without overspending. But, in a slow economy, because many companies cut their ad and marketing budgets, the once saturated market opens up with abundant opportunities. The result is that today’s advertising and marketing budgets will go much farther in gaining visibility and results. In today’s economy, and with today’s new online marketing channels, it is far less costly to gain high visibility and awareness. By advertising consistently during uncertain business times, companies can establish the perception of stability and success. That perception can lead to an increase in their competitive advantage and market share. Also, maintaining or increasing marketing programs – online and traditional – will result in much greater sales growth and profitability during and after economic downturns.

Some key guidelines to achieving maximum results for minimum investments are:

1. Set realistic goals and a realistic budget.

2. Decide on a marketing approach and tone. In this business environment, incentive-based marketing is usually the best strategy.

3. Advertise/market efficiently: target customer retention before acquisition; negotiate the best possible ad rates and material pricing; and , for your online presence, (your website and your social media) look for as many hot-link opportunities and affiliated partnerships as possible.

4. Constantly measure results and act accordingly.

By following these simple guidelines, you’ll be able to turn a slow economy into the opportunity to thrive.

7 Responses to “A slow economy provides an ideal environment for marketing”

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