A common knee jerk reaction in uncertain economic times, such as those we’re currently experiencing with the Coronavirus outbreak, is to cut the marketing budget and stop marketing.
Putting a halt to marketing expenditure might seem like a good short-term fix, but the longer-term effects will be far more damaging.
Even if your customers aren’t in a position to buy from you now, they will want or need your products and services in the future. Keep your brand in front of people now, and they’ll be more likely to come to you when they’re ready to spend again.
If you’re feeling the pinch, here are some low-cost marketing suggestions to keep your brand at the forefront of your customer’s minds without breaking the bank. And, they can all be done from home if you and your staff are needing to self-isolate.
Low-cost marketing ideas:
Be active on social media – regularly post updates to your social media channels (the ones most relevant to your target audience) and engage with others. Be helpful and share your expertise.
Keep your website up to date – maintain your blog and keep adding fresh content. Do some keyword research to provide informed ideas for new content. If you sell online, ensure your product list is current.
Use email marketing – keep in touch with existing customers and your prospect database via email. Share your latest offers, expertise (via tips and advice) and news to keep them engaged.
Write a letter – direct mail works well for B2B businesses and needn’t be expensive. Target prospect customers with a well-thought-out letter and then follow up with a phone call to gauge their interest.
Court the press – approach relevant media with press releases and ideas for feature articles. Not only is editorial content significantly more effective than advertising, but it’s also free!
Ask for referrals – everyone likes to pass on a recommendation, and as a consumer, you’re far likely to buy from a business that is recommended by a trusted source than one which is entirely new to you. Maximise word-of-mouth marketing by encouraging happy customers to refer you. You could offer an incentive or just ask! Try it; you might be pleasantly surprised.
Be helpful – reach out to your current customers and see if you can help them in any way. When the economy hits a crisis, all businesses are vulnerable, so if you can support your customers somehow, they’ll be more likely to stick with you and maybe even increase their spend.
If you need help implementing any of the above, please get in touch. Investing in outsourced marketing may seem like a misnomer but the benefits of leaving it to an expert will far outweigh the cost.
Image credit: Pixabay