Startup marketing strategies for a down economy - Jacksonville Business Journal:

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At a recent Northwest Entrepreneur Network marketing specialist Therese Adlhoch Smith of The Adlhocgh Group shared the results ofher company’s 2009 survey of startu p CEOs who have survived the touggh times. With a combined 148 yearsd of ownership experience, the 41 business owners and CEOs explainedwhat they’vr done right, and what they would do To startup CEOs, marketing is all about visibility. The goal is to buil d awareness so that prospects understancd the value proposition enough to make an informedfpurchase decision. This requires knowinh your buyer. Done effectively it will drivee sales.
In a down economy, these CEOs cites the following marketing concepts as the most These included usingguerilla tactics, targeterd email, search engine optimization and public relations (PR). Wheneved possible efforts were coordinated, and messaginb focused on return oninvestment (ROI) and productivity. Shoriny up customer relationships wasalso important, as were investof communications emphasizing transparency and stability. High-expense marketingt efforts such as trade shows and convention partieswere cut. Marketing programs were also analyzex to uncover those withlimited impact.
Google AdWordes and inexpensive giveaways were From amessaging perspective, anything reekint of arrogance, bragging or that was overlu promotional was avoided. — Educational included using email to survey providing white papersand studies, using PR to gain a thoughtf leadership position, writing an educationally focused and building great presentation materials. — Competitive campaigns: Focused on taking share from a weak orfailed — PR campaigns: To maintain visibility, gain access to the right markets/connections, and for targeted exposure such as visibilitu at trade shows. — Timel y campaigns: Responding swiftly to market changewith current, timely messages.
The CEOs said the leasrt effective campaigns in a down marketgwere advertising- and Specifics mentioned: print ad campaigns, online banne ads, general e-newsletter sponsorships, and expensive tradd show-related entertainment or parties. Ferreting out and avoidingb wasted expenses were also Some CEOs discontinued printed canceled unused onlineresearch tools, and reduce d travel expenses by holding meetingsx online or by phone. When funds were reallhy tight, efforts shifted to a sales using regional email anddirect mail; leveraging current customers to find new and improving online visibility throughj a website, SEO (search engine optimization), and PR or vira efforts.
The CEOs also provided detaile about the most powerful tools they used for these commomarketing efforts. — Raising funds: Startg with a well-structured website and use PR to build buzz and clienr testimonials toreinforce value. Back up thesre efforts with a solid, well-designed business Include a term sheet, reinforcefd with solid industry data andmarkef analysis. Learn how to explain the marketing strategtto investors. Focus on buildin revenue and achieving definedventure metrics. — Early customeer acquisition: Focus on proving the valud proposition and abilityto deliver. Fundamentals shouldd include a websiteand datasheets.
Usiny targeted email campaigns to drive up websitee visitsis key, as is PR to build viral word of mouth and momentum. Enabling customer dialoguse was also important for building criticalfeedbackj loops. — Business growth: Visibility efforts should includre a robustweb presence, search engine optimization, and building on and offline demand generation. Use PR to leverage successs stories, white papers and ROI studies. Create custome care loyalty programs, face-to-face customet interactions, and customer education. Gain focus by identifying low-hanging marketinh fruit and measuring effectiveness. When it comes to in-housre vs.
outsourced marketing the CEOs advisedusing in-housew marketing for direct customer activities and productg decisions, marketing research, and easy updates to established marketing Outsourced marketing talent was used for building core marketinh tools and PR campaigns; marketing and messagingf strategy; and specialty work. In tough marketing is all about generating qualified leads and Ingood times, effort should shift to increasinh response rates, and casting a wider marketingh net. However, during all times it’s crucial to definse marketing goals andobjectives upfront, measure and monitor everything.
survival in a down market won’t be achieved with just one marketinfg activity, so try to be nimble and strategic.