Marketing a small business well in a recession doesn’t require much cash, but it does require managing people resources, using local outlets to contact target customers, and emphasizing unique benefits.
People Resources
Identify key people who will speak favorably about your business to generate word-of-mouth results and reduce advertising costs.
Provide existing customers with exceptional service then follow-up with personal notes to show appreciation and ask for valued referrals.
Create an online presence to co-promote your business. Limit your social networking tools to a manageable number so updating them regularly is easy. Facebook and LinkedIn are two credible sources for creating online profiles. Using a service like Twitter can assist in staying in touch.
Use your online presence to talk about other local businesses. Write entries on talking with a local life insurance salesman or having your back adjusted by your chiropractor. You will be appreciated for helping others get the word out about their businesses, too.
Local Outlets
List your business on free and low cost local online websites, network regularly with your chamber of commerce and even write letters or drop off gift baskets to key contacts at large companies.
If you advertise in the local paper, ask about special offers and discounts you can receive for referring other advertisers.
Emphasize Unique Benefits
Small business owners have the advantage of their unique personality. Emphasize the benefits offered to customers. This will show your unique problem solving skills.
Measure Results
Create a budget to show how much you spend on networking groups, local advertisements and estimate how much time you spend online.
Then track the sources for your referrals and new business. Put more time and money into sources proving effective.
In this way, you are taking action in your marketing to thrive in any economic climate.
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