How To Market In Tough Times

Charge or retreat, it’s a matter of choice.  

I hear people complaining about the strength of the dollar weakening in comparison to other world currencies especially when the media is reaching for our attention with the stories and news of recession. So how do you leverage these economic challenges to benefit your company?

1. Expand your market – We get more inquiries and new business than ever before from place such as Canada, Europe, Australia, South Africa and Asia. I do not know if this is because of the exciting work we do and our marketing gravity, perhaps serendipity or the weak dollar. What is apparent to me is the fact that organizations and entrepreneurs outside the US are reaching out for help and expertise and a way to get better return from their own currency. Seize these opportunities, branch out and go global.
2. Help change your customers’ perception – In his blog entry Marketing in a recession, author Seth Godin writes about how in good times people buy because they feel they deserve it or just want it. Yet in tougher times they buy from a defensive position to avoid trouble or seize the opportunity. Change your marketing message to help your customers better understand why they need your products and services now.
3. Better use of technologies – Whether you are a large organization or a single entrepreneur, smartly using technologies enables you to deliver your expertise to your clients to help their business, build stronger relationships while allowing technologies to perform the work they should. So instead of receiving orders via phone, fax or a non-integrated web site and having to manually key them into your computer system, why not completely integrate them with your system through the Internet to automatically receive them in your warehouse or your receivable department? Instead of shipping hard copy books and CDs why not send them digitally as eBooks or an MP3 downloads. Instead of having to travel and visit your clients for meeting and training, why not use the Internet to conduct online live meetings and even archive them for future views?
4. Improve your web site – In his blog entry Progression in a recession, Dr. Alan Weiss talks about the importance of changing your web site to broadly describe your services and the importance of technology to reach out overseas prospects and partners.

Your web site and the Internet are both critical tools in helping you market your company, announce new products and services, deliver new offerings and reach global customers. So rather than listen to the negative news (how else would they get your attention) and act scared and indecisive, why not make a bold move, seize the great opportunities around you and make a positive difference for you and your customers’ success.