In a recession, you may not want to spend money on marketing. But in the long-term, this can be disastrous. This article will offer a few easy ways to quickly make up that lost funds and gain customers from your competitors during these hard times without breaking the bank.
Here are 32 ways to increase sales and marketing during a recession / post COVID-19 in Malaysia
Don't take marketing for granted. Marketing can be the most powerful tool in your advertising arsenal, but it's useless if you let anybody and everybody tell you what to do with it.
By paying attention to YOUR OWN NEEDS FIRST, you'll have a much better chance of getting good marketing.
The recession can be a golden opportunity for small businesses - but you need to catch potential customers' attention in the right way!
Make sure that your budget allows for enough marketing materials to meet your needs, and don't let marketers get away with using high-cost items just because they're trendy or flashy marketing materials!
Be wary of marketing agencies or marketing professionals who do not understand your goals and objectives when it comes to your marketing needs.
If they don't even care about your primary focus, how can you trust that the better quality services they market will be effective?
Do your research on marketing agencies that will be available to help you, and make sure that they have the credentials needed to perform at a high level! This is especially important when it comes to finding someone who has experience working with small businesses, as they may know how to get better results for less marketing.
Don't be afraid to ask marketing agencies for samples of marketing strategies that they've used in the past.
They should be able to provide you with case studies or other marketing materials which prove that their marketing services are effective, and if they don't have anything like this - maybe it's time to try someone else.
Reach out and outreach. Contact businesses or individuals that have used your services and thank them for their support.
This will make them feel valued, which could result in more marketing as word spreads of how good you are at marketing.
Don't go overboard with marketing right away, no one likes to see an advertisement every time they turn on the television, radio or even social media.
Try marketing your core products at a discount, this will help you get rid of old stock and will allow for some marketing of new products as well.
Look at all marketing options available to you. If advertising on the radio is too expensive, try print ads or television commercials instead. There are a lot of different marketing options on the market, so do some research to find one that best suits your marketing needs.
Seek out new marketing opportunities. There are all kinds of marketing options available, from handing out marketing material at local clubs and events to giving coupons or audio recordings away online for free. Find a marketing idea that works for you!
Focus more on marketing internationally. Many people outside of Malaysia are in dire need of marketing and will be more than willing to purchase as much marketing material as you can give them, there is an abundance of marketing opportunities just waiting for you!
Promote yourself or your business online. Internet marketing is a great marketing idea that cost little or no money at all. By marketing via blogs and social networking sites you can find marketing material to give away for free or share marketing ideas with others.
Marketing during a recession is all about being smart. In this case, you should market your competitors' services from time to time (or when it fits).
Market your competitors' services if they are better than yours, by promoting their marketing in exchange for marketing of your own could prove to be a very valuable marketing tool that costs nothing but time.
Plus, the public will have strong recognition for you and your business for being real.
Make your marketing more effective by adding coupons, vouchers, video training or audio recordings into already produced marketing materials can help marketing efforts.
Having such 'cheat sheets' often results in better conversion rates.
Change marketing strategies, no one really likes marketing that is the same day in and day out. Consider switching marketing ideas around to keep things fresh for both customers and yourself!
Offer personal information such as phone numbers or email addresses on marketing material. This will allow customers to easily contact you with any marketing questions they have.
More importantly, this will make them feel more special because they are able to reach out directly to you, without having to go through any chatbots or support emails.
Focus on making your marketing material easily available to the public and avoid making marketing material hard to find or only available from select business hours. Marketing material should be everywhere and always easily accessible!
Look for marketing opportunities in marketing materials you currently produce. If the marketing material is produced during a special season or period that are not around the same time of year, consider launching these promotions during any given month (to create hype and make sales).
During recession, people are often holding their cash tight. Throwing some discounts would allow you to attract more customers.
You can also work out a collaboration with your peers where they market your products while you pay them commissions for each sale!
Look into marketing ideas that do not cost money, such as working with freelancers, students or even your competitors. There is no bad idea right here!
Look into marketing opportunities available through local organizations, you might find something that fits your needs and provides marketing material for a reasonable price.
Make sure your marketing options and strategies allow you to reach out to a wide audience ... well, through easy availability (1-click download, click to call or click to speak to support, for example).
Hire marketing professionals on a part-time basis as needed. This will allow you to get any marketing questions answered whenever they come up, plus it's easy to terminate marketing services if things don't work out!
Avoid marketing your products and services heavily during a recession as the marketing results may not be favourable.
Incentivize customers to purchase a higher-priced product and in return, getting a lower-priced or similar priced product for free. This would make your customers more likely to buy and spend more.
Offer marketing on promotional products such as pens and key chains. This will allow your marketing materials to reach marketing professionals easy, plus you can market to customers using marketing material via these freebies that are easily seen in the public.
Have you seen people auctioning off products and services via live sessions on social media?
This could attract many potential clients interested in marketing!
*P.S. Just make sure your products are really solid to avoid any backlash.
Market your products and services via email lists or online directories. This allows you to focus all marketing on one medium instead of marketing everywhere at once which increases your overall marketing cost.
Keep marketing expenses down as much as possible, but not cutting marketing off completely. That way you can put more marketing into marketing material, which could increase marketing results!
Look for the best marketing professionals with marketing skills in the industry. By using them, you can leave the heavy lifting to them and focus on serving your customers instead.
Forget about traditional marketing.
Use marketing methods that are new and more modern. This can include email marketing, social media and search engine optimization services.
Get creative with your marketing by targeting different demographics and customer personas.
Don't take marketing for granted. Marketing can be the most powerful marketing arsenal in your business. By paying attention to your business needs first, you'll have a much better chance of creating better marketing goals and at the same time, beating your competitors.
Summary: Marketing during an economic downfall / recession
As the economy is in a recession, marketing campaigns are becoming more and more important. As people's budgets become tighter, they have to be more selective about what products they purchase.
With this in mind, it becomes even MORE crucial that you market your product or service well if you want any chance of success! If you need help creating an effective campaign at a low cost - let us know today!
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