5 Tips for Optimal Marketing in 2009
With the necessity of budget cuts across the board, it’s understandable that you may need to spend less on marketing in this economy.However, marketing drives sales and successful marketing is the key to business success in any economy.
According to the Chief Marketing Officer’s Council 2009 Report, marketing budgets are “holding up fairly well with dollars being stringently controlled and directed toward growing and retaining market share. Marketers are not running scared from the economy. Half of the marketers responding to the survey report say they’re either holding firm on budgets or anticipating increases. Nearly one third plans at least a small budget increase, with 8.2 percent planning a bump of more than 10 percent.”
Here’s a few tips we hope will help you optimize your marketing efforts this year.
1. Invest wisely.
Assess your spend and revise your plan. Craft a long-term strategy. Are you spending all your marketing money in the same medium, reaching the same audience, attracting the same customers?
Know your reach. Define and redefine your target audience. Determine your most profitable audiences and focus your marketing efforts there.
Consider your timing. When and how often do you reach your target audience? Timing and regularity are key.
2. Focus on an integrated marketing mix.
Take the time to identify your marketing medium options. Yes, that means social media, too. Develop a clear understanding of how social networking, blogging, email marketing and other Web strategies can optimize your marketing campaign. Think you don’t have time? You can’t afford not to take the time.
Smart marketing choices can be complex. If your brain can’t comprehend social media and Web marketing strategies, you can likely save yourself a ton of work and lots of money by working with a company that understands the importance of a comprehensive approach to marketing. Integrated marketing products give you optimal cost-control, efficiency and maximize returns on your marketing investment.
3. Strengthen your relationship with your current customers.
Customer experience and customer loyalty go hand in hand. Find ways to provide more value to your existing customers. Make it easier for them to view you as a trusted source. Market to them and reward them regularly with special promotions and discounts to let them know you care. Provide exemplary customer service and ask them how you can help them more, better or in different ways.
4. Win market share.
Keep a watchful eye on your competition. Act early and act often with product changes, value-added offerings, special promotions and pricing. Make it a priority to be cognizant of changing customer needs and change your positioning to accommodate those needs as quickly as possible.
5. Maintain a reasonable marketing budget.
Don’t risk losing out to competitors because you’ve cut your entire marketing budget or reduced it so much you can’t strike a balance. Prospective customers are searching for you right now. Can you be found?
Be firm and fight for your marketing dollars. It’s more important now than ever.
Need help making smart marketing choices? Call EasyChair Media today to request your complimentary one-hour marketing consultation and analysis. 800-741-6308.
www.easychairmedia.com
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