Marketing Your Business During a Recession
The world was such a more beautiful place before the evil “R” word came into all of our lives. Of course, by the “R” word, we mean recession. Unfortunately, both small businesses and major corporations alike have felt the financial pain of the recent recession. News outlets worldwide have reported that marketing and advertising budgets have been the first to be eliminated at many companies and corporations.
Many business owners and CEOs inaccurately identify marketing and advertising as a frivolous side expense in an economic crisis. However, it is extremely crucial to continue to invest in your marketing and promotional materials during an economic recession. Here are some quick ideas to consider when it comes to marketing during a recession.
- Without Customers, You Have No Business – This is an obvious sentiment, but it is deeply important to really consider this fact during an economic recession. Marketing is like gambling: you can indeed invest thousands of dollars, yet finish with no real profit. This is why it is crucial to be confident in your product before attempting to achieve any sales whatsoever. If you have firm confidence in the product you sell, then you should have a firm confidence in the fact that spending money on advertising will have a real turn around.
- Without Advertising, You Have no Customers – It is really important to consider why you ever put money into advertising and marketing in the first place. In a recession, many businesses decide to try and float on word of mouth and current customers, rather than new acquisitions. However, it is crucial to consider what will happen without a constant flow of customers. Word of mouth is only so effective – but it is really vital to continue to acquire new customers regularly to keep your bottom line healthy.
To really effectively budget for an economic recession, be sure to carefully consider what “frivolous” spending is for your business or company. Even putting money aside for something as small as “we’re still here” flyers can give your company a lucrative boost in revenues. At the end of the day, it is important to put enough money aside for marketing materials – even if all you can afford is something small and inexpensive.
Here are a few inexpensive marketing products that can be used to continue marketing your business during a recession:
- Business Cards – If you spend money on nothing else, you should always invest in business cards. Business cards allow you to share the identity you have created with everyone you meet. You can hand them out to people that visit your business, give them away to contacts you meet on the street, and stick them into every single envelope that leaves your business. They are inexpensive to produce, can start the brand recognition process, and provide the recipient with all the contact information that they need to reach you.
- Postcards – When you are operating on a tight budget you need to squeeze the most out of every dollar, then postcard marketing campaigns are a great way to brand your business to a target audience. With a creative and colorful postcard that features your company logo, slogan and colors you have a promotional tool that will help brand your business to the people who matter.
- Brochures – Brochures are another marketing tool that are relatively simple to produce and not too expensive to have printed. Your brochure should highlight specific products or services that you offer and include eye-catching pictures. Text should be short, easy to read, and to the point, and the entire brochure should be visually attractive. Brochures can be sent in the mail to interested clients, set out on a counter for customers to pick up, or left behind after you have given a sales pitch.
- Bookmarks – Bookmark printing is a cost-effective way to get your business name to a large audience and improve branding. The ROI is usually very positive when you consider the goodwill customers receive.
- Door Hangers – Door hanger marketing is quick, easy, affordable and highly targeted. Best of all, it’s one of the most effective ways to get your message in the right hands, at the right time. Be sure to have your door hangers professionally printed by a state-of-the-art online printing company such as WePrintQuick. An online service provided by Eveready Printing, Inc.
- Presentation Folders – Custom presentation folder printing is a great way to keep your business image professional when you mail promotional materials, hand out information at meetings, or simply give to customers at trade shows.
With a little planning, an experienced printer, and some well thought out designs, you can have a marketing plan that is inexpensive to implement yet highly successful. We Print Quick offers a wide range of services to compliment our premium print production services. You can make your life easier by working with one reliable company for all your production needs.
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