Marketing in these Economic Times

Recently, Jim Rudnicki, (far right), Rudnicki & Associates, and I moderated a luncheon for Small Business Owners at Harris Bank hosted by Frank Covelli (center) in Frankfort, IL.  Thank you for the invite, Frank!  It is always enlightening to hear from other Small Business Owners about approaches they are taking to the market given today’s economic times.  The common points “centered around”:

1. NARROW YOUR FOCUS!

2. CROSS-SELL TO YOUR EXISTING CLIENTS AND CUSTOMERS!

3. BE CONSISTENT IN YOUR APPROACH!

We appreciate the opportunity to be a part of such a gathering!  It is another opportunity to share with others and to learn from others how best to grow their business during these times!

Focus on One Market by Ilise Benun

Focus on One Market by Ilise Benun

Focus first on which market to pursue, and then on which tools you will use to pursue that market.

When it comes to choosing a market, start with what you know. Look first at the industries you have served in the past. A marketing plan built on past experience and actual examples will yield live clients more quickly than if you start from scratch introducing your services to a new market. For example, if you worked in pharmaceuticals, you can make a strong case for your experience in the broader market of healthcare or even in peripheral industries, such as medical devices or hospitals.

Don’t worry—focusing on one market doesn’t mean that’s the only work you will do. You are free to take any work you want. But for the purposes of proactive marketing and to streamline your efforts, you must be efficient with your time and money. That’s why it’s best to start with one market, get the ball in the air, and then add additional markets later. 

Ilise Benun, a Hoboken-NJ based consultant, is a national speaker and the author of several books, including Stop Pushing Me Around: A Workplace Guide for the Timid, Shy and Less Assertive and Designing Websites for Every Audience. She is also founder of Marketing Mentor, a one-on-one coaching program for small business owners. You can reach Ilise at ilise@marketing-mentor.com.

What now? SAME AS IT EVER WAS!

The Talking Heads wrote a song, “Once in a Lifetime” that uses the phrase…same as it ever was!  What does that have to do with marketing in today’s difficult economic times?  Everything!  Your marketing initiatives should be the “same as it ever was!”  What is… “same as it ever was?”  

• NICHE — Narrow your focus, be an expert, don’t be all things to all people!
• CROSS-SELL — Expand and package your solutions to your existing clients and customers whom already “know, like, and trust you!”
• CONSISTENT — One must “receive a message” at least 6 times before “it sticks!”  Keep “raining messages” on your target!  Don’t give up…don’t ever give up!  (my thanks to Winston Churchill)