Tuesday, January 27, 2009

Marketing in a Down Economy

Day after day, the news just keeps getting worse. Companies around the world are facing difficult decisions; cutting budgets, laying off thousands of employees, and doing only what is necessary to survive. I see the impact of these cuts across all industries. Many business owners say that they are operating with a bare-bones staff, and no one can seem to figure out what to do to grow their business. They are frozen, like a deer caught in the headlights of an oncoming car, just waiting for the worst to hit them.

This is truly a time unlike any other. It's a time for businesses to actively find opportunities. While marketing in a down economy is a difficult decision, history has proven that companies who stick to their marketing plan through these tough times will fare better in the end. Now is the time to remind your customers that your organization is alive and well.

History has also shown that when times are good, consumers are less likely to change their buying habits. It is during the difficult times when consumers and organizations are willing to look around for a better product or service (or a better deal). Now is the time to seize upon that willingness to change.

One other consideration you must factor in -- your competition is likely cutting back on their marketing budget as well. With fewer competing messages, now you can reach your audience more easily. Many media outlets are also offering deals to those willing to buy ad space or airtime. Let your competitors decrease their marketing budgets while you take advantage of this rare opportunity. You will enjoy the results.

By shifting your strategy from surviving to thriving, you can emerge as a market leader. K2forma can show you how to make every marketing dollar count. Contact us today and get it done right.