Is your business experiencing stagnation with the Recession? If so, continue reading.
Five years ago, did you see this economic recession coming? Perhaps, you did to a lesser extent, but you didn’t really think it was going to be this bad, right? With that said, companies have to gain leverage and position themselves to their markets by becoming the number one choice to consumers through cost effective marketing.
However, with traditional advertising costs through the roof, companies need to find more effective ways to target their markets, specifically through online media outlets – public relations, banner advertising, SEO, blogging, and branding.
Here some low cost ways of effective advertising:
1. Research and understand the goals, values, and behaviors of your market. Once you have a thorough understanding of your market, you will know how to deliver messages effectively.
2. If you decide to hire an agency to manage your advertising, make sure you are the only account they are managing in your market. If the company manages any competitors, look elsewhere.
3. Tell your market what your USP is and why you are better than all the rest of your competition. A USP is the Unique Selling Proposition, the one element that makes your business better than everyone else’s business (superior customer service, late hours, 24 hour customer service, best prices, or highest quality).
4. Use the right places to advertise online. There is nothing worse then placing an advertisement in a food e-magazine (that has little or no relevance to your market) when you are trying to sell cosmetics, which should be placed in a fashion e-magazine or some other complementary publication.
5. Create an irresistible offer. You want to attract prospects and make them contact you immediately. Offer a discount for first time buyers; offer an introductory period, or a gift that has a high perceived value.
6. Diversify your marketing efforts. Use online advertising, blogging, social media marketing with branding and public relations to get the best results. You should also determine where your marketing dollars are generating the best ROI to prevent careless spending.
If you need assistance in marketing planning, market entry or strategic planning or your website, brochure, or any other marketing material content need to be edited, proofed, created, or re-written, please contact Kristin at [email protected].