With marketing budgets under scrutiny, doing more with less is essential for creating a positive return on your investment. The fact is that marketing budgets are shrinking in today's difficult economic climate. This is the exact opposite of what should actually happen. When times are tough, its time to start marketing.
Do more with your shrinking marketing budget. This is easily done when you consider the power of viral marketing. The purpose of viral marketing is to leverage others - customers, prospects, friends, and connections to help you sell your products and services. Here are a few other ideas you can use to jump start your marketing.
Leverage all of your assets. As a business, are you leveraging every customer interaction you have? Whether it is on the phone, face-to-face, or over the Internet, how frequently do you use that opportunity to ask about other needs or pain points?
Start a referral campaign. You'd be amazed at how many companies do not have a standard procedure for acquiring referrals. It's simple to begin a referral campaign. The quickest way is to simply ask your previous customers for the contact information of others who might benefit from your product or service.
Focus on your communications. If you are sending letters, giving away business cards, or packing someones groceries, be sure to include a flier or message about other products and services you offer. You may even consider a special offer that can be included with each of these touch points.
Test. Test. Test. When marketing budgets go south, many businesses stop experimenting and trying new campaigns. Although you wont have the money to try anything, you may simply try new "value adds" or other things that can improve your conversion rates at the retail level or online. Consider adding a frequent shopper club.
Improving ROI doesn't have to be difficult. When considering where your successes were in the past, you can probably recall some simple campaigns that produced the greatest return and cost next to nothing. Consider all the different ways that you can recruit others to help you sell. How can you leverage your existing campaigns to bring in more money with less? The key is to focus on the tried and true, make some minor tweaks, and measure the results. Rinse and repeat.
Offer a free download on your website. What can you do to attract more visitors and have them give you valuable information about themselves? The information you provide could be a free informational packet, checklist, or video. If people want free, you can give it to them but remember to ask them for something first. Be the master of get/give and you can build your list quickly.
Do more with your shrinking marketing budget. This is easily done when you consider the power of viral marketing. The purpose of viral marketing is to leverage others - customers, prospects, friends, and connections to help you sell your products and services. Here are a few other ideas you can use to jump start your marketing.
Leverage all of your assets. As a business, are you leveraging every customer interaction you have? Whether it is on the phone, face-to-face, or over the Internet, how frequently do you use that opportunity to ask about other needs or pain points?
Start a referral campaign. You'd be amazed at how many companies do not have a standard procedure for acquiring referrals. It's simple to begin a referral campaign. The quickest way is to simply ask your previous customers for the contact information of others who might benefit from your product or service.
Focus on your communications. If you are sending letters, giving away business cards, or packing someones groceries, be sure to include a flier or message about other products and services you offer. You may even consider a special offer that can be included with each of these touch points.
Test. Test. Test. When marketing budgets go south, many businesses stop experimenting and trying new campaigns. Although you wont have the money to try anything, you may simply try new "value adds" or other things that can improve your conversion rates at the retail level or online. Consider adding a frequent shopper club.
Improving ROI doesn't have to be difficult. When considering where your successes were in the past, you can probably recall some simple campaigns that produced the greatest return and cost next to nothing. Consider all the different ways that you can recruit others to help you sell. How can you leverage your existing campaigns to bring in more money with less? The key is to focus on the tried and true, make some minor tweaks, and measure the results. Rinse and repeat.
Offer a free download on your website. What can you do to attract more visitors and have them give you valuable information about themselves? The information you provide could be a free informational packet, checklist, or video. If people want free, you can give it to them but remember to ask them for something first. Be the master of get/give and you can build your list quickly.
About the Author:
Are you ready to learn more about marketing in difficult times? Learn from the Internet marketing experts and download your FREE marketing articles at MarketingScoop.com. Grab a totally unique version of this article from the Uber Article Directory
RSS Feed (xml)
No comments:
Post a Comment