How To Keep Your Marketing Efforts Lean and Effective Through a Recession

Times are tough, but marketing efforts must keep going. In fact, increasing marketing efforts in a recession can be one of the most cost-effective ways to capture market share while competitors reduce marketing budgets and advertisers lower costs. Regardless, smart marketing should always result in the biggest bang for the buck. So here are a few steps to follow as you keep your marketing campaigns lean, but still effective.

Step 1 - Define your customers. One of the most cost-effective measures a company can make is to carefully define your customers. This makes for much more effective marketing that is more focused and will yield greater response. This also means you need to know who your most profitable customers are so you can design specifically for this group.

Step 2 - Define your budget. Your budget will limit what kinds, how much, and how many of any kind of marketing materials you can use. Your budget will ultimately guide your decision on what medium you choose. Print has long been one of the most cost-effective but localized medium while television ads are known for their broader impact but lower return per exposure.

Step 3 - Create a CPE equation. CPE stands for cost per exposure. For magazines, you would look at how large the circulation is and divide the cost per exposure by the cost for an advertisement. If you are going to print brochures, divide the total cost (including shipping) of the brochures by the number of brochures. This simple equation can help you identify the most cost-effective form of advertising, but you still need to use judgment in selecting which is best for reaching your customers.

Step 4 - Design for maximum exposure. Whatever medium you select, make sure you design for impact by using a bold design that connects with people. Posters should grab attention and deliver a simple message quickly. Brochure printing should include graphics that show the products in use so a customer might want to read more.

Step 5 - Print for professionalism and price. Since printed advertisements are often the most cost-effective when marketing dollars are few and far between, make sure you print with a firm that has a reputation for professionalism, but also has competitive pricing.

Step 6 - Document your results. When customers respond to an ad, make sure you record this information. This will help you gauge the effectiveness of the campaign so you can either improve or repeat your results.