Marketing During Uncertain Economic Times

The recent tragic terrorist events that threatened our country's safety have left behind a cloud of uncertainty for business owners throughout the USA. Our economic well being is in the hands of our fellow countrymen as we strive as a nation to stand on our feet and keep the economy strong and prosperous without feeling the strain of predicted recession. As entrepreneurs, we must carry on with business as usual and keep ourselves apprised of economic trends during the upcoming months and make savvy decisions. During this time, and as always, marketing is inevitable. While we are tightening our purse strings to a certain degree, we still must allow for funds within our budgets for marketing. But that does not mean we cannot be frugal. As a matter of fact, this is the time to practice frugality, and today is a great place to start.

Budgeting on a shoestring is not a new marketing concept. Businesses have been practicing it for years. When finances are tight, business owners tend to put a halt to unnecessary spending. Unfortunately, they often cut out marketing, which is a necessary expenditure that should be budgeted for all year long. Your marketing budget should be fat during your busy season and lean when things slow down. But it should never be cut out of your budget altogether. The following are some frugal marketing tips, both online and offline, you may want to consider should the economy begin to slow down.

1. Seek free publicity through the media as often as possible by submitting press releases. The cost of having a press release professionally written and submitted is nominal compared to that of traditional advertising. You stand to gain more exposure at no cost to you, whereas with traditional advertising you would pay fees to each publication wherein your ad is published.

2. Get to know the owners of Internet businesses who maintain web sites that would be appropriate entities for you to swap ads or links. This is absolutely free advertising and creates a win-win situation between you and other business owners who are feeling the strains of potential financial crunch.

3. Engage in a post card marketing campaign. Post cards are relatively inexpensive and can go a long way in reaching clients on a monthly or bi-monthly basis to keep them informed of new and existing products/services. The secret of any successful marketing program is to keep your name in front of your existing clients.

4. Barter products/services for ad space. Contact local organizations, schools, clubs, businesses, etc. who may publish a newsletter or other advertising source. Work out an exchange wherein you provide a specific service or product in exchange for ad space.

5. Create promotional bookmarks for the local public library. This is another inexpensive printing project that can get your name in the hands of thousands of local potential customers.

6. Submit articles to Internet and offline publications that relate to your specific industry. Some publications will even pay you if they print your article. A great resource for locating paying publications is Writer's Market 2001.

7. Join an online or offline networking group. Better yet, start one on your own. By getting to know other entrepreneurs, exchanging ideas and leads, and engaging in general brainstorming, you can increase your connections and sales.

These examples are merely a few from a list of many free and low-cost marketing ideas that you can implement during lean times. When the going gets tough and consumers begin to hold on to their money more so than usual, don't give up-get tough and implement a savvy marketing plan that will keep you afloat and thriving during uncertain economic times!

_______________ Author:Rozey Gean

If you enjoyed this article, you will enjoy Rozey's new book, 'Frugal and Fun'. For FREE chapters, visit http://www.frugalandfun.com

More Writing Links

Home page

Information Index