BusinessRX Blog

Re-Think Your Marketing Plans for 2009

April 07, 2009

Yes we are in a recession and no matter how hard we try to cut expenses we can not save our way to prosperity. Many cut advertising and marketing costs first. The man who stops advertising to save money is like the man who stops the clock to save time. In this challenging economy, companies need to be more visible, not less visible. We suggest conducting a brain storming session to re-think your marketing plan and budget. Invite people without marketing experience to sit in on the brain storming session to give fresh perspective.

Below are a few topics to start your brain storming session.

Social Networking: Is your company using LinkedIn to its advantage? Not only do they have 30 million individual profiles they now profile 160,000 companies. How can this information build sales? Businesses are starting to use other social networking sites such as Plaxo, MySpace, Facebook and Flickr to name a few.

Target Industries and Trade Organizations: Which ones are right for your firm in this recession? Explore public, private, non-profit and government agencies. Begin by researching local, state and national chapters of trade organizations. Be a presenter, be a sponsor, or attend an event. How can your company be involved without the cost of a trade show booth?

E-Zine: Do you have one? What is the message/offer? Does it have the right frequency and reach? Is the data base up to date?

Competitors: This is a great time to team up with strong players and take over weak players. Which competitors are hiving trouble with service? Can your company approach them to take over their accounts? Who is growing and why?

Customers: This is about maximizing current customer relationships. How you can expand products and services to existing customers? Ask for referrals and introductions. Does your company have customers that are money losers? Or you are not getting paid? It may be time to eliminate certain customers.

Current Marketing Plan: What is working? What should we stop doing? What should we test? Is your company getting a return on your marketing investment?

Web-Site: Is your web-site current? Is it fresh? Does it accurately present your company? Who is visiting? Has it been optimized?

Once you complete the marketing brain storming session, prioritize the top three to five ideas and get to work.
 

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