Marketing During An Economic Slump

Thursday, April 10, 2008 by Mistlee


Can't see any images? - !




Click to Play

Google Advanced Search
For today's "tip of the day" Mike McDonald explains how to use Advanced Search on Google. Advanced Search helps you find links and get them back to your own...

Recent Articles

LeaveFeedback.org For Local Businesses
I'm excited to announce a new free service I developed for local businesses, LeaveFeedback.org. Local Search is one of the newest verticals in the search industry...

Businesses Benefit From Yahoo Map Upgrade
Yahoo! has announced improvements to Yahoo Local Maps. They've added more data and made the maps easier to read. Yahoo says there are more changes to come, but here are some of the changes so far...

Marketing During An Economic Slump
What motivates entrepreneurs? Money? Control? In truth, some entrepreneurs are expecting to get rich. Others want to grow and control a new venture. But most...

Is Your Brand Big Enough?
When I was on my multi-month critical review of Google a few months back, I frequently highlighted how the perception of spam or quality was often associated with the brand (or lack of brand) behind the content.


04.10.08

Marketing During An Economic Slump

By Kevin Gold

Personally, I am still debating whether I consider the current economic slump a recession or just a media-created frenzy around a hot "emotional" topic for a mass audience during a big year in politics.

But beyond my personal debate, there is certainly a feeling in the business markets that a downturn has or will occur and therefore many marketing departments are reconsidering their budget allocations. A concept I find particularly interesting to explore but off topic for this post.

MarketingSherpa released an excellent survey providing some insights about how marketers are managing in the downturn. The twenty some page executive briefing (free for a short period of time) is titled, "Marketing During a Downtown: Part 1 - 10 Insights Into How Marketers Are Handling the Slump" uncovers some excellent points. Hurry though because normally the free download ends after ten days and it was originally posted on April 2nd.

Call Today For a Free Domain Consult

One general point I found interesting was that many marketers are planning on cutting their "branding" budgets to re-allocate to their direct marketing budgets. I don't fully understand the point but then I believe brand-building - sustainable brand preferences - occurs after a product or service is used and a positive experience (a truly memorable experience) is realized. Therefore direct marketing always makes sense since it focuses on getting people to take action in using the product or service. One specific quote from a marketer stated, "Direct marketing is more measurable and trackable in terms of ROI." Why shouldn't that be important all year long whether upturn or downturn?

Unfortunately I cannot recall the source but I did read this week that many companies are moving more marketing dollars online - mostly in PPC and some in display. I have also heard from some SEM companies that they are generating a lot of new leads. If these companies can generate "conversions" for their new clients then they should be able to keep the clients during good and bad times.

Check out the MarketingSherpa report - it's good perspective for the current environment.

Comments


About the Author:
Kevin Gold is a regular contributor to Search Marketing Standard Magazine blog and is the Managing Partner of Enhanced Concepts. Kevin has extensive experience and knowledge working with companies of all sizes from Fortune 1000, entrepreneurial start-ups, franchises and home-based businesses. He has worked with hundreds of companies in diverse markets to increase their website sales and generate more qualified sales leads.
About SmallBusinessUpdate
Expert articles and all the news on current trends to help your business succeed and grow. We're here to help you stay informed and keep ahead of the game. SmallBusinessUpdate: The Edge for Small Businesses. The Edge for Small Businesses.





SmallBusinessUpdate is brought to you by:

WebProNews.com Jayde.com
MarketingNewz.com SalesNewz.com
CareerNewz.com InvestNewz.com
eCommNewz.com WebsiteNotes.com
AdvertisingDay.com ManagerNewz.com
SearchNewz.com CRMNewz.com





-- SmallBusinessUpdate is an iEntry, Inc. publication --
iEntry, Inc. 2549 Richmond Rd. Lexington KY, 40509
2008 iEntry, Inc. All Rights Reserved | Privacy Policy | Legal

archives | advertising info | news headlines | free newsletters | comments/feedback | submit article


Unsubscribe from SmallBusinessUpdate.
To unsubscribe from SmallBusinessUpdate or any other iEntry publication, simply send an email request to: support@ientry.com
SmallBusinessUpdate Home Page About Article Archive News Downloads WebProWorld Forums Jayde iEntry Advertise Contact SmallBusinessUpdate News Archives About Us Feedback WebProWorld Forum The Edge for Small Businesses

0 comments: