Startup marketing strategies for a down economy - bizjournals:

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At a recent Northwes EntrepreneurNetwork meeting, marketing specialist Theresde Adlhoch Smith of The Adlhochg Group shared the results of her company’d 2009 survey of startup CEOs who have surviveed the tough times. With a combinecd 148 years of ownership experience, the 41 business owneras and CEOs explainedwhat they’ve done and what they would do To startup CEOs, marketingf is all about visibility. The goal is to builcd awareness so that prospects understand the value propositioj enough to make an informespurchase decision. This requires knowing your buyer. Done effectivelyh it will drive sales.
In a down economy, thesre CEOs cited the following marketing concepts as themost important. Thesr included using guerilla tactics, targeted email, search engine optimizatio n (SEO) and public relations (PR). Whenever possible efforts were and messaging focused on return oninvestment (ROI) and productivity. Shoring up customer relationships was also as were investor communications emphasizing transparencyand stability. High-expensde marketing efforts such as trade shows and convention partieswere cut. Marketing programs were also analyzed to uncover those withlimited impact. Google AdWords and inexpensivew giveawayswere cited.
From a messaging anything reekingof arrogance, bragging or that was overly promotional was — Educational campaigns: included using email to surve y customers, providing white papers and studies, using PR to gain a thoughyt leadership position, writing an educationallhy focused book; and building great presentationm materials. — Competitive campaigns: Focuse on taking share from a weak orfailed competitor. — PR To maintain visibility, gain accessd to the right markets/connections, and for targeted exposure such as visibility attrad shows. — Timely campaigns: Respondin g swiftly to market changeswith current, timelyu messages.
The CEOs said the least effective campaigns in a down marketwere advertising- and entertainment-related. Specifics mentioned: print ad campaigns, onlines banner ads, general e-newsletter sponsorships, and expensive tradde show-related entertainment or Ferreting out and avoiding wasted expenses werealso important. Some CEOs discontinue printed brochures, canceled unused online research and reduced travel expenses by holding meetings online or by When funds werereally tight, effortsz shifted to a sales focus, usinf regional email and direct mail; leveraging current customers to find new and improving online visibility through a SEO (search engine optimization), and PR or viral The CEOs also provided detailz about the most powerful toola they used for thesew common marketing efforts.
— Raising Start with a well-structured website and use PR to build buzz and client testimonials toreinforce value. Back up theswe efforts with a solid, well-designed business plan. Include a term reinforced with solid industry data and market Learn how to explain the marketing strategy to Focus on building revenue and achieving definedventure — Early customer acquisition: Focuds on proving the value proposition and ability to Fundamentals should include a websits and datasheets. Using targeted emai campaigns to drive up website visitsis key, as is PR to buildr viral word of mouth and momentum.
Enabling customerd dialogue was also important for building criticaklfeedback loops. — Business growth: Visibility effortss should include a robust web searchengine optimization, webinars, and buildingh on and offline demand generation. Use PR to leveragw success stories, white papers and ROI Create customer careloyalty face-to-face customer interactions, and customefr education. Gain focus by identifying low-hanging marketing fruirt and measuring effectiveness. When it comes to in-house vs. outsourcerd marketing the CEOs advisexusing in-house marketing for direct customer activitiesd and product decisions, marketing research, and easy updates to establishec marketing programs.
Outsourced marketing talentf was used for building core marketint tools andPR campaigns; marketing and messaging strategy; and specialtyu work. In tough times, marketing is all abou t generating qualified leads and Ingood times, effort shouldc shift to increasing responses rates, and casting a wider marketing net. However, duringb all times it’s crucial to define marketiny goals andobjectives upfront, measure results, and monito everything. Remember, survival in a down market won’tr be achieved with just one marketinyg activity, so try to be nimble and strategic.