Keeping Marketing Costs Low In A Recession

In difficult times, as the customer pool shrinks and budgets tighten, companies must fine-tune their marketing efforts. Here are 12 tips on refining your marketing approach to maximise effectiveness and minimise costs:

1. Eliminate marginal investments.
2. Increase direct marketing.
3. Negotiate discounts on trade publication advertising.
4. Use trade shows smartly.
5. Enhance your website.
6. Move to virtual seminars and workshops.
7. Put marketing collateral online.
8. Publish articles on your subject of expertise.
9. Use newsletters.
10. Provide speakers to meetings and conferences.
11. Find a marketing partner.
12. Create a referral programme.

1. Eliminate marginal investments

Interview your salespeople to identify which marketing tools have been most instrumental in successfully selling your products or services. Determine which marketing programme has played the biggest role in snaring recent sales and allocate your marketing budget toward those programmes. Then