To be more precise, the Harvard Business Review stated that “The rationale that a company can afford a cutback in advertising because everybody else is cutting back [is fallacious].”  And history bears this out.  In past recessionary cycles (1970, 1974-75, 1981-82, 1990-91) research has shown that companies who continued to invest in marketing their companies products and services fared much better than those who didn’t.  Duh?!?!

We know that marketing works, that’s why we do it.  When you stop marketing, for whatever reason, it will stop working.  However it is really hard to keep shelling out cash on marketing programs, advertising and email campaigns when sales are slow and revenue is down.  But here’s the thing;  if you stop investing and “hold tight” until things blow over, customers will easily forget about you.  It doesn’t matter if you’re a large corporate selling to other large corporations, or if you’re a start-up selling to consumer online.  Out of sight means out of mind.

“Marketing” doesn’t have to cost a fortune.  The rise of social media, online communities and social networking, marketing online is one of the most cost effective vehicles around today.  Social media marketing is a specific tactic that is effective and inexpensive.  You need to check on all your target social media sites, post to blogs, comment, respond, twitter, friend and link like there’s no tomorrow.  Chrus Muccio, recently ran a promotional campaign via social media and his book “42 Rules to 24-Hour Success on LinkedIn” is now a Best Seller on Amazon.com.  Social media marketing works…for authors, small companies and large corporations.

The other upside to social media marketing in difficult times is that it is fun.  It’s great to meet new people who share your same interests - either personally or professionally.  It’s nice to be able to support other businesses;  to find others interested in what you do.  Plus, when things turn around your network is now that much bigger.

Now get out there and start tweeting, linking, friending…or whatever.

Tags: Marketing //