3 Marketing Tips to Weather the Economy

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Economy vs. Business

As the U.S. economy shows more volcanic symptoms of a meltdown, debate begins over the financial outlook. The business climate for the 2011 fourth quarter and outlook for 2012 is shaky but manageable.

In this article, you’ll learn 3 Hot Marketing Tips to Weather the Economy…but first the data you care about: finances.

2011 fourth quarter financials, US financial outlook, business outlook for 2012, naples marketing firm

Political cartoon by Nate Beeler of the Washington Examiner

2011-2012 Economic Weather

In May 2011, President Obama reported unemployment claims were down, but just as quickly on in August CNN reported joblessness had increased at a continuous and alarming rate.

On, Aug. 18, 2011, Bank of America, one of the largest banks, announced a plan for a 3,500 employee lay off by September 2011. Since this post, Bank of America announced 30,000 layoffs over the next 10-15 years. The United States Postal Service is even considering cutting 120,000 jobs!

Financial expert Susie Orman reported on CNN on Aug. 18, 2011 that is no way to avoid a second recession in the fourth quarter of 2011 and offered survival advice.

Wall Street Journal reported on Aug. 19, 2011:

“The U.S. economy is showing new signs of fatigue, depressing financial markets, discouraging consumers and unsettling businesses.

The Dow Jones Industrial Average lost 419.63 points, or 3.7%, Thursday [Aug. 18, 2011], and is down 9.5% for August [2011] amid soaring trading volume and some of the worst volatility on record.”

Read the Wall Street Journal story

The New York Times on Sept. 7, 2011 following the original publish date of this blog reported there are true recession concerns.

Marketing for the economy requires finding a boat to weather the storm the U.S. is likely to ride through 2015, according to some.

As a Naples marketing firm serving up branding dreams for businesses across the United States, like you, our company wants to do more than float. Businesses need profits and strategic marketing solutions help overcome concerns.

3 Strategic Marketing Tips to Weather The Economy

  • Focus on Your Business’s REAL Talent – Don’t Dilute Focus

    Don’t specialize in computers if your talent is primarily printers. HP plans to phase out all computer manufacturing through 2013 to return to its roots with printers and B2B services. Great advice!

    What’s your company’s real talent?

  • Trim Marketing. Don’t Cut It.

    Foot traffic, sales and promotions are directly connected to a consumer’s likelihood to spend money with your business. You MUST spend money on marketing, even if you need to reduce spending.

    It’s often a $25,000 savings to hire a marketing firm to do the same as a strategic marketing staff member would.

    Also negotiate with your local advertising representatives to see if they can reduce ad costs or threaten to remove your advertising. In tough times, advertising reps will wheel and deal except at larger papers who generally have fixed rates.

  • Develop Free Promotions Using Free Media

    Free promotions includes using Foursquare, GoWalla, Yelp, Business Facebook Pages and Twitter to encourage clients to check into your facility, which advertises your company to their followers. Allow check-ins to qualify them for a Grand Prize Draw.

    Don’t forget every business must collect customer emails and ask if they’d like to receive communication. Strategic marketing 101.

    Email them your blog, your deals and your fun check-in promos.

    This invigorates your existing client base to tell others about you and attracts your customers’ friends via social media buzz.

Use these tips, because marketing for the economy means finding a balance.

Lose your traditional vision and think like the consumer you are. Be creative.

Be safe in these turbulent times. Leave your comments and questions below!

About Camden Smith

Camden Smith has written 77 posts for Marketing Magnetics.

Camden Smith owns DREAMFly Marketing with 16 years in strategic marketing and television journalism. Her cutting-edge, aggressive marketing skills have earned her numerous awards. Smith lives in Naples, Florida with her daughter London.

  • Marla Stanley

    Using free media is a great way to motivate buyers, but what you do you think about Yelp now moving towards requiring business to pay to promote deals?

    • http://www.dreamflymarketing.com Camden Smith

      Yelp changing to charge businesses for deal rather than allow them to do promotions is a mistake for business owners. For Yelp it equals more money but like you many businesses are upset about this. The way around it is to run solely check in promotions.

  • Eric Tanner

    I think too many smaller business attempt to become a mini-Walmart selling everything even slightly related to their businesses and I agree that’s where they make a mistake.  You have to grow smart. Focus is great advice.

    • http://www.dreamflymarketing.com Camden Smith

      Businesses who grow to fast end up with a little bit of attention deficit on their real talents and that’s why rather than listing another marketing tool, we listed a true business operation concern that will deliver for companies quickly.

  • Monica Hernandez

    I agree charging on Yelp has been a terrible idea, although as a business for Yelp great decision for them.

    Using online mediums is important especially if you scale back – great advice DREAMFly.

  • Tate S.

    We are still marketing but did trim back. As the owner of my business, I manage our marketing, and I agree if you cut it you might as well cut off your feet.

    The economy is hitting all of us big and large and I think these tips are perfect to keep us on track.

    • http://www.dreamflymarketing.com Camden Smith

      Thanks Tate!

  • Shari

    Like the updated recession article you put in – I think we are not in a double dip recession but just failed to realize we never left the original one. Great tips to help businesses – thanks.

    • Camden Smith

      Unfortunately you may be right but as one of my clients Ken Kelly of Kelly Roofing in Naples, Fla. says it’s up to us as business owners to figure out how to turn our water into steam to really chug our trains (businesses) up, up and away. Touch base any time.

      • Eric


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