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Marketing Techniques During Recession

Guest post by: Jacqueline Drew

Article Overview: During a recession, should a business change its marketing strategy? Jacqueline Drew examines how changes to pricing, spending, and selling costs can impact a business.

Marketing Techniques During Recession

Marketing Techniques During a Recession
By Jacqueline Drew
President & Principal Consultant Tenato Strategy Inc.
When business gets tough, marketing questions abound. Does an economic slump mean that certain marketing strategies should change? Here are some of the most common marketing questions that arise during a recession – and some creative answers that can help your business.
• First – does the recession mean I should cut my pricing? Here’s a move that definitely reduces your profit, and only MIGHT increase your sales. And if your sales slow down anyways, you could steering down a path you will never escape. Rather than cut prices, this is the time to offer people more options: You can offer less expensive options – such as “used items” “fewer features” options and "do it yourself” options. You can also offer higher-end, exclusive products for the high-end customers who will be less susceptible to the effects of a recession. Either way, it’s wiser to keep your margins intact – and widen your appeal.
• Second, does the recession mean you should pull back your marketing? No, but it could mean you should re-position it. Track the leads you do get to find out where people found out about your business. Resposition your budget more heavily on the effective ads. And, if new business came to you through referrals, send a thank you note to those people who referred. Of course, these are things you should be doing even in a booming economy.
• Third, does the recession mean I should cut back other things – like a fancy location, or sales expenses? Maybe, but only if your business isn’t already lean. When it comes to something like a lease, it’s always wise to get the best deal. But moving from a high traffic locale to your garage might be going too far. Likewise with sales expenses. Using your land line is smarter than being on your cellphone needlessly, but cutting back on face to face visits to customers will probably hurt your business. And those decisions are no different than if we were still in a booming economy.
So, there you have it. Doing business well during a recession is a lot like doing business well during a boom – where the strong survive no matter what the economy is doing. So behave as the strong do – and strong you will be.

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Article Tags: how to sell in a recession, Price, Sales



Related Forum Posts
Re: The Best Method for Online Marketing - we must choose the most suitable one to use.. there are so many diffrent strategy here.. 1. Start with a web promotion plan and an effective web design and development strategy. 2. Get ranked at the top in major search engines, and practice good Search Optimization Techniques. 3. Learn to use Email Marketing Effectively. 4. Dominate your marketing niche with affiliate, reseller, and associate programs. 5. Request an analysis from an Internet marketing coach or Internet marketing consultant. 6. Build a responsive opt-in email list. 7. Publish articles or get listed in news stories. 8. Write and publish online press releases. 9. Facilitate and run contests and giveaways via your web site. 10. Blog and interact with your visitors.
Re: What is your Business? - We are running a Online Marketing Firm and we have some good clients to which we are offering a complete Digital Marketing strategy like Search, Mobile Marketing, Branding and Design. I think in Online Marketing company online presence can be a wining factor for the success of the company.
Re: Bad SEO techniques? - There are few more techniques which also known as the Bad SEO Techniques or Black Hat SEO Techniques. Such as: - Relying on keyword metatags - Purchase Links (From Spamming or blacklisted sites or doing purchase links on high level for site marketing) - Horde Page Rank: This is one of my favorites, because it's one that most webmasters don't understand yet. This is because it changed over the past year or two. The concept people have in their mind is that page rank is a key part of site rankings and linking to other sites "leaks page rank" from your site. However, the world has changed. - Swap Links: Another oldie, but not goodie. Search engines want links to represent endorsements. Swapped links represent barter, and they are trivial to detect. Don't swap links for the purpose of building page rank. It's a waste of your time - Implement duplicate content - Use Session IDs on your URLs - Use lots of Javascript - Implement your site in Flash
Re: Let’s talk about the ways of marketing your products, servic - I agree with some of the others who responded it depends on what your selling... but to answer your questions here are some of the methods I use. Forum Marketing Yahoo Answers (I need to use more of) SEO (Search Engine Optimization) Bum Marketing or Article marketing P-P-C (Pay Per Click) Marketing Online Directories Hope this helps.
Re: Bad SEO techniques? - [quote="WebBizIdeas.com":1jr37kqx]There are few more techniques which also known as the Bad SEO Techniques or Black Hat SEO Techniques. Such as: - Relying on keyword metatags - Purchase Links (From Spamming or blacklisted sites or doing purchase links on high level for site marketing) - Horde Page Rank: This is one of my favorites, because it's one that most webmasters don't understand yet. This is because it changed over the past year or two. The concept people have in their mind is that page rank is a key part of site rankings and linking to other sites "leaks page rank" from your site. However, the world has changed. - Swap Links: Another oldie, but not goodie. Search engines want links to represent endorsements. Swapped links represent barter, and they are trivial to detect. Don't swap links for the purpose of building page rank. It's a waste of your time - Implement duplicate content - Use Session IDs on your URLs - Use lots of Javascript - Implement your site in Flash[/quote:1jr37kqx] Hi Jeff, Thanks for adding to the list. I have one question, though. How would one implement Session IDs for a URL, and what benefit would come from doing so?


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