The economy's been rough, and business owners are taking a new look at their advertising strategies.
"Whether the goal has been to increase revenue, awareness, foot traffic or change consumer attitudes, the focus seems to have revolved around inexpensive, yet efficient ways to communicate," says Dana Hukel, president and CEO of BOLD Marketing. Hukel and Gera LeGrand, promotion specialist at the Southeast Missourian explain how businesses are boosting their advertising strategies to the next level.
Then: Follow up with a customer via e-mail or direct mail
Now: Post a note on a customer's Facebook profile or "tweet" at the customer via Twitter
Why it works: "When the consumer tightens his wallet, every marketing department should be asking how to loosen up that wallet again," Hukel says. "One answer has been the emergence of social media. Facebook and Twitter came at just the right time, because it gave companies an inexpensive channel to communicate with instant feedback. For many companies, big or small, there has been an increased focus on personalizing messages to loyal customers in an attempt to keep them actively engaged with the business and make them feel like part of the family."
Then: Use TV and radio advertising
Now: Sponsor events, participate in fundraisers and attend local festivities
Why it works: Hukel says some of her clients are redirecting their marketing efforts to focus on the community and getting involved with the people. The main point, she says, is to demonstrate that employees are real people, and they're part of the community, too. Some sales teams have undergone relationship training, as consumers' decision process is much longer than it was five or six years ago.
Then: Buy a newspaper ad
Now: Add coupons
Why it works: People want to save money now more than ever, and it's no longer "uncool" to be frugal. "Whereas in the booming economy of the prior 20 years consumers did not take the time to clip coupons, keep them and redeem them, many consumers will now feel proud of the money they saved with a coupon," LeGrand says. Wraparound or "out-sert" coupons have made it even easier for consumers stick the page in their purse or tack it on a bulletin board -- and remember that business the next time they're out shopping.
Then: Create a website for your business
Now: Make it easier to find
Why it works: If your website is easy to find, you'll generate more web traffic and possibly more business. One tactic, LeGrand says, is to buy ad space on a high-traffic website -- banner ads that allow users to click through to your website are especially useful. Online directories also increase the presence of a business online, LeGrand says, and help with search engine optimization.
Then: Advertise on paper
Now: Advertise on stickers, magnets, plastic newspaper bags and more
Why it works: "Anything new, different or rare normally attracts attention," LeGrand says. "Advertisers are using stickers as a big attention-grabbing tactic and then are directing the reader to an ad inside the newspaper or an insert in the newspaper that gives the full message, thus getting the most exposure for their advertising dollar, and also being able to give more detail for the shopper."
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