Companies that keep marketing during a down economy tend to fare better than those companies that do not advertise. Counter-intuitive? Many companies are trying to conserve their monies and tend to cut their marketing budget. So with less companies spending marketing dollars, it allows you to stand out. This article covers the following topics.

1. Focus on existing customers
2. Start an email newsletter
3. Create More Time to Work at Your Business
4. Re-examine Your Product Offerings

1. Focus on Existing Customers
Repeat sales to existing customers is much less expensive than finding a new customer. Yes, you want to build your base of customers, but do not lose track of your current customers. Focus on customer appreciation! Show them you appreciate their business by just saying thank you, acknowledging customer special events, discounts for add-on services, and access to your best offers.

2. Start an E-mail Newsletter
Top of Mind Marketing is what I call it. E-mail newsletters are one of the most cost-effective ways of keeping your business/products/services at the top of your customer’s mind. One company I worked with started sending quarterly email newsletters to support their sales effort and gain greater visibility in their target markets. They increased their sales by over 40% in one year. “Our eNews was a great launching pad to bring customized information to our customers rapidly in a friendly and cost-effective manor.”  While it takes time and care to produce content that is relevant and useful to your audience, the investment can generate great returns. NOTE: Always be sure to include a call to action so potential customers will contact you while you’re still fresh in their minds.

3. Create More Time to Work at Your Business  -  Outsource
Use outside experts instead of hiring full-time employees. In this economy, it’s hard to assume the risk of adding new full-time employees. Hiring seasoned contract professionals to handle specialty marketing work  – like graphic design, message development, and newsletter development – allows you and your staff to be more efficient, and enables you to achieve top-notch results without creating an ongoing expense.

4. Re-Examine your Product Offerings
Make sure you look at your product through your customers’ eyes. Are you sure your marketing message highlights the value you bring to those customers? Customers tend to make buying decisions based on a combination of three factors: speed, quality, and value. And, in a down economy, customers and businesses alike are in the process of re-evaluating every line item in their budgets and are focused on value more than ever.

While competitors retreat, a down economy is a great time to move your organization forward - carefully. Which of these tips can you implement today?