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These are turbulent times for all businesses - necessitating streamlined
marketing processes that are finely honed to mesh with today's sputtering global
economy.
(article continued below ...)
1.
Don't stop advertising because the economy is sluggish
- increase it, as many of your competitors are foolishly slowing down and you
can grab market share! Look at what Dell has done to Gateway in the last
eighteen months - Gateway has lost 10-20% of their market share and are pulling
in their horns, while Dell's slice of the pie has grown bigger.
2.
Negotiate aggressively with media sources
- its tough right now for online and offline publishers to generate advertising
revenue and they are being forced to consider any and all deals. Note the number
of "house ads" being run by major portals like Yahoo and Internet.com,
20-30% of their banner ads or sponsorship buttons are promoting their own
businesses.
3. It's
no secret that many ecommerce sites look like Amazon.com
- it pays to mirror existing market leaders' web site design. People always
resist change and familiarity is one of key reasons why they shop on and offline
in the same stores.
4.
Niche marketing has almost become a homily
- but it enables your company to leverage your marketing expenditures and
R&D costs by concentrating on a narrow market segment. ToolLogic, Inc. (www.toollogic.com)
is a wonderful example of a company that created/found a niche and then
dominated it.
5.
What's unique about your company, services and/or products?
When you understand this you've just created "brand uniqueness" -
make sure you integrate these themes with all of your marketing; customers need
to know what's different about your company versus your competitors. Ben and
Jerry's Ice Cream (www.benandjerrys.com) did a wonderful job of developing brand
uniqueness in a commodity market (ice cream) that enabled them to build a great
company.
6. A
key attribute for any successful marketing campaign is repetition
- your company may not have the marketing resources of an Intel (their
"Intel Inside" campaign far exceeded their marketing goals) but you do
need to repeat your message and reinforce the branding and market awareness by
touching your market segment via multiple reinforcing marketing processes; i.e.
search engine ranking, print, opt-in e-mail, radio/TV, sponsorship buttons,
newsletter inserts, etc.
7. Make
it easy to do business with your company
by offering pricing and terms of service that fit your client's needs -
Digit-Net technologies (www.digi-net.com) sells software and or ASP services to
its customers by offering them terms of services that can be flexed to fit their
needs, not the other way around.
8.
Switching costs are high in this challenging market
- companies and individuals don't want to change their habits, as this can cost
them more money. So, figure out how you can adapt your products and services to
fit their needs to minimize their switching costs. Then, communicate this
effectively via all of your marketing processes.
About the Author:
Lee Traupel has 20 plus
years of marketing and business development experience He is the co-founder of a
Northern California and Brussels Belgium based Interactive Advertising Agency,
Intelective Communications, Inc. www.intelective.com .
Intelective focuses exclusively on providing strategic and tactical marketing
services to small to medium sized companies.
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