How you can make the most of the current economic downturn?
posted on: Thu-Apr-30-2009 by Darren Langham
Everywhere you turn there is another story in the media relating to downward spiral of our economic state. We need to stay positive and try not to focus on all of the stories in the media.
Many organisations make the mistake of cutting their marketing budget dramatically during these challenging times. This can do more harm than good, as you’re unable to promote your products and services to your audience.
The way to look at it is while you’re competitors may be cutting their communication with prospective clients, you’ll be the one who is still be heard or seen.
If you know the products and services that offer more value to you clients or there is a good take up, you could focus on promoting these instead of new ranges.
Spend some time finding out what your clients are looking to do, and listen to the responses and make informed decisions from the feedback you receive.
What strategies can you use to make the best return on investment?
Use your website more effectively, directing people to your most popular products and services or clear out slow moving stock for a smaller fee – at least your bringing revenue in and it’s not tied up in stock.
Set up micro-sites to promote slow moving stock or your most popular products and services. Promote these to your prospective clients through emails, postcards or fliers.
Consider the amount of pages you require in printed marketing material. Can you use less number of pages and still get the message across? Is it possible to print on a cheaper material without losing the quality?
If you would like to discuss how we can help you make the most of the resources you have available call Darren or Matthew today on 0121 288 4227 or email us@twelve20.co.uk.
Article originally featured in our newsletter, spring 2009.
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