In the year 2009 and into 2010, we have witnessed large layoffs across a variety of industries. Business continues to be slow with very few hints that things are turning around. For now, companies will continue to look for ways to conserve their working capital. Some marketing managers (if they have not already done so) will continue to strip the advertising and promotion budget. Those in a more dire situation may be forced to eliminate it altogether.
Yet at such a critical time as this, it is imperative that companies not do eradicate their advertising & promotion budget. Doing so may save money in the short term, but may end up doing them more harm than good. A total elimination of the budget could ultimately spell disaster for the business if its prospects, customers and clients think that you are no longer in business due to the absence of advertising and promotions that historically create the awareness of goods and services.
So where does that leave a company that is operating on a pared down marketing budget or even worse, no budget at all? Having a limited budget or no budget doesn’t mean the end of the world for a business. The goal is to find inexpensive ways to create awareness for your business. It means adopting and putting into practice some low cost, no cost advertising & promotional tactics. The greatest expense is more likely to be the time it takes to develop a strategy and the subsequent execution.
Spread the Word in Writing
Write an article that speaks about your industry, product or service. Articles allow you to obtain good visibility and reach a large audience for free. It also positions you as an expert. Submit your articles to newspapers, magazines, trade publications and online article directories. If allowed by the publication, include a resource box that informs the reader of who you are and where they can find you.
Write a regular column. If you are fortunate enough to be given the opportunity to write a column, you could gain exposure locally, regionally or even nationally. Having your name and photo seen regularly increases your exposure and builds credibility.
Start a newsletter. A newsletter is an excellent way to promote your business. Decide what the objective is for your newsletter and how you can add value for your prospects and customers. Newsletters build awareness, trust and confidence. They also promote goodwill. This can be easily distributed regularly online to your client database.
Send out a special report or white paper. A special report is a document or article that you write about your area of expertise. It is sent to out to your cliental to educate them on a particular subject. A special report should include useful and helpful information. It might include trivia, surveys, trends and other findings. Special reports can also be uploaded to your website and downloaded in exchange for an email address. Reports are a great way to build an email list.
Send a letter to the Editor. Rather than writing on a subject an editor may not have an interest in, gain exposure by responding to a recent article published in a newspaper or magazine. In one paragraph identify the article that you are writing about, then summarize the article and indicate what you agree or disagree with it. Summarize your main thought. Include your full name, address, title, work and home telephone number. People love a hero, especially when you are writing to support an underdog or to voice an injustice.
Be Seen
Give a talk. One of the best ways to promote your company is by giving a talk to members of your industry. Call up your local trade associations, business associations or university to discuss opportunities to share the latest industry news. Use the time afterwards to network and obtain new leads.
Conduct an executive development course. Many executives are making the most of this down time to upgrade their skills with short courses. Being part of an adult education program is an indirect way to promote your company’s business and obtain potential prospects. Your name, title and the company’s name is marketed to the community where you’ll gain awareness and credibility.
Organize or present at seminars. This is a great marketing tool because it allows you to position yourself in the marketplace and is a great way to increase awareness of your products and services. Presenting at a seminar positions you (and invariably your company) as an expert in the marketplace and provides your organization with name recognition.
Capitalize on your Business Cards
Business cards can be the most portable, affordable and versatile marketing method for companies. A company can make a positive first impression that lingers long after your initial meeting with a clean, creative,
