Slumber Party Low-budget marketing tips you can use while the economy is sleeping

In an economic downturn, yesterday's marketing strategiesjust won't cut it. Either they're too expensive, or youraudience has tuned out. But that doesn't mean you should startcutting your marketing budget. Instead, you should use this time todevelop specific strategies that produce bottom-line results. Thatmeans you have to get back to basics and adopt new, hard-workingtactics that bring you closer to your customers.

Here are five steps you can take today to help your company rideout the rocky times. They may not give you a recession-proofbusiness, but they'll keep your marketing efforts moving in theright direction through this downturn and beyond.

1. Make ads pay.Starting today, eliminate your old "image" campaign andreplace it with one that's designed to produce bottom-lineresults. Every ad must communicate benefits and make a strong callto action that produces a measurable response. To track the resultsof your marketing efforts, place response codes in all your ads andlead-generation tools. You should also train your staff to alwaysask prospects where they learned about your company and usecontact-management software to record all the information you getfrom them.

2. Use CRM.It's never been more important to know and understand yourcustomers. A good customer relationship marketing program is ahigh-touch, low-cost way to get feedback while increasing sales. Bylistening carefully to your customers, you'll gain insight intowhat they want most and how you can provide it. Rather than cuttingyour prices, now is the best time to offer additionalvalue-enhancements to your present product or service offering thatlet you rise above your competitors and meet your customers'needs in more compelling ways. Segment your customer base, set up amultitiered program of telephone contact and mailings, and offerspecial support or additional services to the customers whogenerate the greatest sales or profits.

3. Dig deeper. Areyou aggressively looking for new ways to persuade prospects to takeinterest in your company? Take advantage of focus groups andsurveys, and stay abreast of the latest research and publishedarticles (try www.magportal.com) to discover your targetmarket's current needs, desires and buying preferences. Putcustomer feedback forms on your Web site and take steps to makeyour online presence more interactive.

It's also a good time to take on a new prospect group byexpanding into an ethnic or demographic niche. Is there a way toretool your product or service to meet the special needs ofseniors, people with a certain disability or your local Asian orHispanic community, for example? At a time when broad-basedconsumer marketing has become too costly an option for manyentrepreneurs, filling the needs of smaller niche markets canreduce your business's marketing costs while increasingsales.

4. Turn on thespotlight. Right now, media relations and special eventsare essential tools. You can intensify your media relations effortsby targeting several media outlets (find them at www.gebbieinc.com)with story ideas tailored specifically for their viewers, readersor listeners. Identify specific journalists or editors to receiveyour information and find out if they prefer releases via fax,e-mail or standard mail. After sending your initial information,follow up with phone calls and a polished press kit.

To increase your company's visibility, associate with acharitable cause or community-based group for a special event. Takea high-profile position-rather than melting into the crowd-but becareful to avoid the appearance of giving for the purpose ofself-aggrandizement.

5. Get personal.During an economic downturn, it's a great idea to get back tobasics by beefing up your networking activities. Designate severalmembers of your company to get out and attend different groups,assign goals for follow-up and regularly add contacts to yourdatabase. Communicate with your entire prospect database about onceevery six weeks by direct mail, e-mail, fax, phone or in person,and you'll come out of this downturn with a strong and loyalcustomer base.