Startup marketing strategies for a down economy - bizjournals:

ycoguqi.wordpress.com
At a recent Northwest EntrepreneurtNetwork meeting, marketing specialist Thereser Adlhoch Smith of The Adlhoch Grouo shared the results of her company’d 2009 survey of startup CEOs who have survivex the tough times. With a combined 148 yeares of ownership experience, the 41 businesx owners and CEOs explaineedwhat they’ve done right, and what they would do To startup CEOs, marketing is all about The goal is to build awareness so that prospects understane the value proposition enough to make an informed purchas decision. This requires knowing your buyer. Done effectively it will drivs sales.
In a down economy, these CEOs citede the following marketing concepts as themost important. Thes e included using guerilla tactics, targeterd email, search engine optimization and publicrelations (PR). Whenevee possible efforts were and messaging focused on return oninvestmentg (ROI) and productivity. Shoring up customer relationships wasalso important, as were investor communications emphasizinb transparency and stability. High-expense marketing efforts such as trade show and convention partieswere cut. Marketing programs were also analyzed to uncover those with limited Google AdWords and inexpensivd giveawayswere cited.
From a messaging anything reekingof arrogance, bragging or that was overly promotionao was avoided. — Educational campaigns: included usinhg email to survey customers, providingb white papers and studies, usingv PR to gain a thought leadership writing an educationallyfocused book; and building great presentatiojn materials. — Competitive campaigns: Focused on takinfg share from a weak orfailed competitor. — PR To maintain visibility, gain access to the right and for targeted exposurd such as visibility attrade shows.
Timely campaigns: Responding swiftly to markert changeswith current, timely The CEOs said the least effective campaigns in a down market were advertising- and entertainment-related. Specifics print ad campaigns, online banner ads, general e-newsletterd sponsorships, and expensive trade show-related entertainmengt or parties. Ferreting out and avoidinbg wasted expenses werealso important. Some CEOs discontinuedf printed brochures, canceled unused online research tools, and reduced travel expenses by holdinhg meetings online or by When funds werereallty tight, efforts shifted to a sales using regional email and direct mail; leveraging curren customers to find new ones; and improving online visibility through a website, SEO (search enginre optimization), and PR or virall efforts.
The CEOs also providecd details about the most powerfu l tools they used for these commonmarketing — Raising funds: Start with a well-structuref website and use PR to buildc buzz and client testimonials to reinforce value. Back up these effortes with a solid, well-designed business plan. Include a term reinforced with solid industry data andmarket analysis. Learbn how to explain the marketing strategy to Focus on building revenue and achieving definedventure metrics. — Early customet acquisition: Focus on proving the valude proposition and abilityto deliver. Fundamentals shoulde include a websiteand datasheets.
Usingv targeted email campaigns to drive up websitee visitsis key, as is PR to builf viral word of mouth and Enabling customer dialogue was also important for building criticakl feedback loops. — Business growth: Visibilityu efforts should include a robusttweb presence, search engine optimization, webinars, and building on and offlinwe demand generation. Use PR to leverages success stories, white papers and ROI Create customer careloyalty programs, face-to-face customefr interactions, and customer education. Gain focus by identifyin g low-hanging marketing fruit and measuring effectiveness. When it comes to in-housr vs.
outsourced marketing the CEOs advisedusing in-house marketing for direcft customer activities and product marketing research, and easy updates to established marketing Outsourced marketing talent was used for building core marketingy tools and PR campaigns; marketing and messaging and specialty work. In tough times, marketing is all abouyt generating qualified leadsand conversion. In good effort should shift to increasingresponser rates, and casting a wider marketing net.
However, duringb all times it’s crucial to define marketing goalx andobjectives upfront, measure results, and monitor Remember, survival in a down markef won’t be achieved with just one marketing so try to be nimble and