How many times have you been contacted by a media or marketing sales representative who has a great song and dance about why they are the best place to put your marketing? And how many times have you bought what they're selling, even when it was never a part of your marketing plan?
Of course, that makes the assumption that you have a well thought out marketing plan based on your actual audience definition.
Most small businesses are led by people who are great at what their small business delivers, whether product or service. But being good at one thing doesn't make you good at everything. As a result, there are folks with no marketing training or experience developing plans or, most likely, making knee-jerk decisions based on the last sales rep who walked through the door.
In recessionary times (and I'm pretty sure everyone now admits that we're in a serious recession), it becomes more important than ever to develop a thorough marketing plan and then stick to it. Recession marketing requires a brave business owner who understands that cutting the marketing budget also means cutting off the conversation with the customer.
The value of the marketing plan versus knee-jerk spending is two-fold. Firstly, having a plan allows you to know what your expenses are every month so you can plan ahead. Secondly, it forces you to really think about who your audience is and how to reach them efficiently.
To start your marketing plan, you need to know all about your audience. And not just their age, education and income level. You need to learn about their hobbies, families and occupations. These additional pieces of information help you reach them in their 'special' places, and in most cases, more economically than in mass media.
After you really, really, really know who your audience is, you can move on to doing the research about what is available for reaching them.
Example: Moms with school-age children are trapped in the family vehicle for a number of hours, trotting children to extracurricular activities, doing the family shopping, etc. Reaching them could be as easy as buying your local radio station that runs bus cancellations and amateur sporting reports. Add the radio to a sponsorship of a local amateur sports team and a partnership with the local grocery store and you have a great package to reach this audience part.
Recessions require that if you are going to purchase a marketing tactic, you have to purchase it correctly. Planning helps with this. If you don't have enough budget to do it right in January, save January's budget and combine it with February's so you can achieve your goals. You are better off getting great results from a combined budget tactic than no results from a poorly delivered one.
And above all, know what your strengths are as a business owner and focus on those during recession. If you aren't a marketing expert, find someone who is. Even if your marketing expert costs you a few dollars, the increased results will make it worthwhile. (But for heaven's sake, make sure your marketing expert is actually a marketing expert not an ex-media sales rep or just someone who purchased a desk-top publishing program. Marketing is about a lot more than just being able to produce a flyer!)
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