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Frugal Marketing
As times get harder and the economy slows, marketing remains necessary to bring in revenues. Many businesses tend to forget that the downturn of the economy impacts consumers as much (if not more) than businesses. During these times, consumer needs change. It is important to try and understand how they’ve changed so that your product or service offerings can be customized to make them feel continue to feel at ease with their purchases. It isn’t about bombarding them with sales calls, catalogues or e-mails; it’s about changing and strengthening the dynamic of your relationships with customers.
The good news is that strengthening your relationship with customers doesn't have to cost a fortune. There are many cost efficient ways to approach marketing when times are tough and budgets are shrinking. Here are just a few questions to get the frugal marketing juices going: When was the last time you engaged your customer community to find out what they really want in these changing times? Are there people in your network who might be able to piggyback services with you?
Remember, it isn’t always about the amount of money that you spend, it’s about knowing who you want to talk with and then, being creative with your marketing techniques. For some other frugal marketing tips check out:
3 Ways to drive a stronger bond with customers