There's no question the economy is a cause for concern, especially for small businesses that rely heavily on holiday sales. While many consumers and businesses are cutting back and tightening their budgets, small businesses, in true entrepreneurial fashion, are fighting back and looking at these times as an opportunity for expansion, acquisition, new products and services, and more. Marketing doesn't need to be cut completely just because we are in a recession. It just needs to be done smarter.
Stay the course, but keep it smart
Small businesses recognize the value of focusing their marketing efforts to enhance communication with their loyal customers, along with attracting new business. With reduced budgets, not all forms of marketing are viable or wise, but email marketing can be the catalyst to the success of small businesses in any economic environment, and can make the most critical difference during trying times such as these.
Use email marketing is an affordable way to stretch a tight marketing budget -- something all marketers are concerned with right now. Email marketing costs as little as fractions of a penny per email and with a response rate five times greater than direct mail and 25 times the response rate of banner ads. It's the most effective and inexpensive way to engage prospects, increase sales, drive traffic, and improve customer loyalty.
Unlike other forms of marketing such as direct mail and advertising, there is virtually no production, materials, or postage expense involved with email marketing, and communications can be disseminated in minutes while results are delivered almost instantly. Marketers can also easily and affordably create and send newsletters more often and ensure that those communications support and enhance their brand in a way that substantially differentiates the company from the competition.
Invest in customers in good times and bad
If a customer walked into your place of business or contacted either on the phone or via the internet, you certainly wouldn't ignore them, would you? Well, if businesses were to cut marketing out of their budgets, they would be doing just that.
Most marketers know that it is roughly six to 12 times less expensive to sell to an existing customer than it is to acquire a new one. As these numbers show, the value of customer loyalty and repeat business is too compelling to ignore. If you don't communicate with your customers on a regular basis, they will forget you over time and go elsewhere. Now, more than ever, it is important to keep in touch with consumers on a regular basis to ensure that your business remains at the top of their minds.
Getting started with email marketing
To create a successful email-marketing campaign, begin by finding a quality service that's the right fit for your business or organization. A reputable email marketing service provider will provide key capabilities such as list management services (opt-in, unsubscribe, etc.), professional looking and easy-to-use email templates, mailing and reporting functions, and a positive reputation to ensure your email gets through to your intended recipients.
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