Marketing a Small Business in a "Recession"
Chris Mulvaney is the CEO of CMDS. I make things... I’m the creative entrepreneur with passion for (re)making brands and inventing solutions to problems no one knows exist.
Some small businesses are freaking out and going into defensive mode due to all the talk that’s happening in the news. If you’re among those looking all over for places to cut spending, take a deep breath and consider this thought: you are what you believe.
If you think your company will be directly affected by what’s happening in the economy, it most likely will. This sort of negative mindset will pull you into the undertow of failure. Solution? Stay the course on your marketing spending. If you don’t spend, start!
My advice:
1. Look at what you’re currently doing (if anything) and figure out what’s been successful and what hasn’t. Now is a great time to analyze your website statistics to see what marketing efforts spawn traffic. Find out what sticks and what doesn’t. Make changes when necessary and keep going!
2. If you can’t gauge the success of any online or offline marketing effort, either implement a tracking mechanism or pull the plug. Set up a new phone number exclusively for use in your marketing, have a call to action that brings people to your website to sign up for something free, and study your websites analytics.
3. Don’t give up after a single postcard mailing. All marketing efforts take time to show results. Keep your head down and continue to market your business. While other companies are worrying about a “recession” and not focusing on business growth, you will be ideally positioned to excel.
4. Resist the urge to cut your pricing ‚Äî that just cheapens the value of the product or service you’ve struggled for so long to build. Continue marketing!
NJ marketing agency CMDS recommends focusing on generating business using online methods. Why? All marketing dollars are trackable and can be analyzed better than any other medium. For more information on the marketing opportunities you can take advantage of right now, visit www.cmdsonline.com.