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Maintaining Marketing Direction

Maintaining Marketing Direction is extremely important in a tight economy. As costs increase and consumer spending drops it is essential to tighten up on your business' budget. When money is tight, many companies mistakenly reduce or even drop their marketing budgets. This is truly the worst possible time to stop marketing your company.

Consumers still need your products and services and you want to make sure that they come to you (and not your competitor) to fulfill those needs. Reducing your marketing now may allow your customers to forget all about you...

While you must continue, and possibly increase your marketing, in a tight economy you should do so smartly. The three most important steps in maintaining your marketing direction are:

1. (Re)Evaluate your Target Market. Is your target market the same as it was last year, will it be the same in a year?

2. Specifically market to your identified Target Market. Spend those marketing dollars more wisely and make sure you're reaching your target market.

3. Continue marketing. Many businesses make the mistake of not continuing to market themselves. Either they test the waters then stop, or do one big blitz and stop. Generally speaking your company is better off with smaller but regular marketing, especially if budgeting is a concern.

The top three ways to market your business (on a budget) are:

1. Your web site. By far your web site is your most important marketing asset. It is available 356 days a year, 24 hours a day, to anyone in the world. But your web site isn't a one shot deal. You need to keep it current with fresh content and give you customers a reason to return.

2. E-mail Marketing. Not only is E-mail marketing an inexpensive way to market directly to your customers and target market, it is proven to be the #1 form of marketing for Customer Loyalty!* That simply cannot be ignored in today's economy.

3. Direct Mail. Direct Mail Marketing is the second best media for customer loyalty and it is the #1 method for new customer acquisition*. Direct Mail can be the most expensive of these options so make sure you are producing a professional piece to get the most out of your campaign.

However you decide to tackle your marketing in the current economy, don't forget how important it is to stay in touch with your customers. Your customers will continue to buy products and services, make sure they are yours.

* Reference: Target Marketing Magazine