Top 10 Marketing Strategies For a Recession - What You Need to Know to Survive and Thrive
But did you know that there are still companies that are doing very well, or even thriving, in spite of the current economic climate? If you are ready to dominate your market during the recession, here are the top ten marketing strategies that the pros are using to succeed in tough economic times.
- Sell value instead of cutting price Cutting prices is a knee jerk reaction many companies resort to during tough times.
- Social Network Marketing If you're not using these strategies (Facebook, Twitter, MySpace, LinkedIn, etc.
- Joint ventures One of the best and most time-tested approaches to marketing without spending money is to join with someone who already has a similar market and customer list and do a 50/50 profit split with them on a particular project/product.
- Article Marketing The most cost effective way to market your business online is by posting fresh and relevant content on content delivery sites such as EzineArticles.
- Blogging Being a prolific blogger is a great way to generate traffic to your website without having to invest a lot of money.
- Selling membership sites If you have a membership site with a residual income stream (newsletter, trainings, etc), you are not going to have the money worries you would have if you had to keep generating new sales.
- Referrals People still buy during recessions.
- Passing out business cards While you may not get a flood of new customers this way it can help you to keep your brand in front of people and will eventually bring you some results.
- Video Marketing This is one of the easiest and most powerful ways to explode your business.
- Selling to existing customers If you have people who have bought from you in the past, they are always going to be the easiest to do more business with, provided you did your job and provided them with great value.
However, this narrows your profit margins and undercuts your value.
Instead, think of ways to provide more value for the same cost.
People respond to value, and will always buy where the perceived value outweighs the cost.
) you will not survive in today's marketplace.
If you learn a few simple tactics and social networking strategies, and as long as you focus on building relationships with people, this will always be one of the most cost effective ways to market yourself and your business.
They're not just for teenagers with too much spare time on their hands.
Not only does this create traffic, but it creates residual traffic.
One article posted today will bring traffic for your targeted search term for years and years to come.
If you understand some simple strategies this method alone could create a huge profitable business.
Oh, and it's free.
Many are free to set up.
Just be sure that you are consistently writing on your blog (every day is ideal) and adding relevant and interesting content for your readers.
People in a financial pinch will not usually think to cut costs by eliminating membership to sites that are in the $9-$25 range.
This level of security will give you the focus you need to concentrate on new creative marketing strategies.
They are just more careful about who they are buying from.
And they want to make sure that they are getting full value for their purchase.
Asking for referrals from your current satisfied customers, and/or getting involved in a word of mouth referral organization are powerful ways to bring in new targeted customers that already have a pre-established level of trust.
And they're free!
Not only that, it really requires no additional effort on your part, just the presence of mind to offer people a way to keep in touch with you.
You can create and market short, interesting, compelling videos based on targeted keywords related to your business or opportunity, and have thousands of people coming to you looking for what you have to offer.
Much like the article marketing, this also has a residual effect.
Once they're posted, they're posted for good (though you have the option of removing them if you choose to).
Instead of worrying about generating new sales only, make sure that you are still making the most of the opportunities you have already established.
There are some great internet home based business opportunities that teach, train, and mentor people to become experts in many of these free and low cost online marketing strategies, and even provide a start up business that can generate a 6-figure income in just a few short months.