Startup marketing strategies for a down economy - Jacksonville Business Journal:

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At a recent Northwest Entrepreneur Network marketing specialist Therese Adlhoch Smityh of The Adlhoch Group sharer the results ofher company’s 2009 survey of startup CEOs who have surviveds the tough times. With a combined 148 yearsd of ownership experience, the 41 busines owners and CEOs explainewhat they’ve done right, and what they wouldf do differently. To startup marketing is all about visibility. The goal is to build awarenesxs so that prospects understand the valuse proposition enough to make an informed purchase This requires knowingyour buyer. Done effectively it will driv sales. In a down economy, these CEOs citex the following marketing concepts as themost important.
Thesre included using guerilla tactics, targeted search engine optimization (SEO) and public relations Whenever possible effortswere coordinated, and messaging focused on return on investmengt (ROI) and productivity. Shoring up customer relationships was also as were investor communications emphasizing transparencyand stability. High-expense marketing effortsw such as trade shows and convention partiesdwere cut. Marketing programs were also analyzed to uncovere those withlimited impact.
Googls AdWords and inexpensive giveaways were From amessaging perspective, anything reekinyg of arrogance, bragging or that was overly promotional was — Educational campaigns: included using email to survey providing white papers and using PR to gain a thought leadership writing an educationally focused book; and buildingh great presentation materials. Competitive campaigns: Focused on taking share from a weak orfailedx competitor. — PR To maintain visibility, gain access to the righf markets/connections, and for targeted exposurde such as visibility at trade shows. — Timely campaigns: Responding swiftly to markert changeswith current, timely messages.
The CEOs said the leasf effective campaigns in a down marketwere advertising-- and entertainment-related. Specifics mentioned: prinr ad campaigns, online banner ads, general e-newsletter and expensive trade show-related entertainment or parties. Ferreting out and avoidinyg wasted expenses were also Some CEOs discontinuedprinted brochures, canceled unusee online research tools, and reduced travel expenses by holding meetings online or by phone. When fundsd were really tight, efforts shifted to a sales focus, using regional email and direct mail; leveraginy current customers to findnew ones; and improving online visibilitt through a website, SEO (search engine and PR or viral efforts.
The CEOs also provide details about the most powerful tools they used for these commonmarketing efforts. — Raising Start with a well-structured website and use PR to builrd buzz and client testimonials toreinforcwe value. Back up these efforts with a well-designed business plan. Includee a term sheet, reinforced with solied industry data andmarket analysis. Learn how to explainj the marketing strategy to Focus on building revenue and achieving defineeventure metrics. — Early customer acquisition: Focuss on proving the value proposition and abilittto deliver.
Fundamentals should include a website and Using targeted email campaigns to drive up websitd visitsis key, as is PR to build viral word of moutj and momentum. Enabling customer dialogue was also importantf for building criticalfeedback — Business growth: Visibility efforts should include a robusg web presence, search engine optimization, and building on and offline demand Use PR to leverage successa stories, white papers and ROI studies. Createe customer care loyalty face-to-face customer interactions, and customer education. Gain focus by identifyinh low-hanging marketing fruit and measuring When it comesto in-house vs.
outsourced marketing the CEOs adviserusing in-house marketing for directy customer activities and product decisions, marketing research, and easy updatez to established marketing Outsourced marketing talent was used for building core marketint tools and PR campaigns; marketint and messaging strategy; and specialty work. In tougu times, marketing is all about generating qualifiex leadsand conversion. In good times, effort should shift to increasinvresponse rates, and casting a widef marketing net. However, during all timews it’s crucial to defined marketing goals and objectives measure results, and monitor everything.
Remember, survival in a down markett won’t be achieved with just one marketing so try to be nimbleeand strategic.