The Cascade Effect, is a one-stop-guide for small businesses, startups and those who want to learn how PR can grow your business, making you a successful entrepreneur!



Monday, December 03, 2007

Build Your Brand During Slow Economic Times - Be The Stand Out

The real estate crisis, children caring for aging baby boomer parents, the depletion of social security, increase in oil/gas prices, the war.....Trends and economic situations truly impact your business and, contrary to traditional belief, this is the one time when you need to really emphasize your marketing, not cut it out.

No doubt, there will always be situations that make consumers want to stash their cash away in the bedroom mattress than at your business. With all of these economic factors, individuals and families want to save money and get great deals, and to keep your business you are going to have to be creative on driving traffic to your business.

So, people are being more selective about where they spend their money. You can stand out by increasing your visibility during this time and talking directly to the consumer (your message is as important as the highly targeted marketing avenues you use).

Secondly, you want them to know that you understand the financial stress that they (we) are all under by offering limited time sales promotions and events which you can advertise, generate public relations exposure for and promote on premise or directly to your current client base. Consumers have a long memory and they will not only appreciate, but remember, the way you went out of your way to help them continue to enjoy their current lifestyle. And they'll return. Maybe to spend more.

This might also become an opportunity for you to create cross- promotion opportunities with other businesses, and generate exposure with an entirely new audience. By offering special discounts to a neighbor or relative business you are increasing loyalty to both businesses.

Finally, just because budgets are tight and people aren't spending quite as much doesn't mean that you should ever stop thinking BIG when it comes to your business. There are opportunities all around to promote your business. Look for them, generate them and capitalize on them. If you need assistance, look for a professional who specializes in small business, offering affordable alternatives and puts the focus on your success.

Remember, marketing is a long term process. Building recognition and credibility of your brand in consumer's minds can take time and patience. But if you are persistent and targeted with your strategies the future return will be more than worth the time and effort.