Startup marketing strategies for a down economy - Jacksonville Business Journal:

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At a recent Northwest EntrepreneurNetwork meeting, marketing specialisty Therese Adlhoch Smith of The Adlhocn Group shared the results of her company’sx 2009 survey of startup CEOs who have survived the tough With a combined 148 yearws of ownership experience, the 41 business ownerw and CEOs explained what they’vde done right, and what they would do differently. To startupo CEOs, marketing is all about The goal is to builr awareness so that prospects understand the value proposition enough to make an informe dpurchase decision. This require knowing your buyer. Done effectively it will drived sales.
In a down economy, these CEOs citedf the following marketing concepts as the most These included usingguerilla tactics, targetesd email, search engine optimization (SEO) and public relations (PR). Whenever possible efforts were coordinated, and messaging focused on return oninvestmenft (ROI) and productivity. Shoring up customer relationships was also as were investor communicationsz emphasizing transparencyand stability. High-expense marketing efforts such as trade shows and conventiomn partieswere cut. Marketing programs were also analyzedc to uncover those withlimited impact. Google AdWordws and inexpensive giveawayswere cited.
From a messagingg perspective, anything reeking of arrogance, bragginy or that was overly promotionalwas avoided. — Educational included using email tosurvey customers, providinyg white papers and studies, using PR to gain a thoughrt leadership position, writing an educationall focused book; and building great presentation — Competitive campaigns: Focusec on taking share from a weak or failed competitor. PR campaigns: To maintain visibility, gain access to the righ markets/connections, and for targeted exposure such as visibility attrade — Timely campaigns: Responding swiftly to market changes with current, timel y messages.
The CEOs said the least effectiv e campaigns in a down marketwere advertising- and Specifics mentioned: print ad campaigns, onlinr banner ads, general e-newsletter sponsorships, and expensivee trade show-related entertainment or parties. Ferretinyg out and avoiding wastedf expenses werealso important. Some CEOs discontinued printedr brochures, canceled unused online research tools, and reduced travepl expenses by holding meetings online or by When funds werereally tight, effortsx shifted to a sales focus, using regional email and directr mail; leveraging current customers to find new and improving online visibility througb a website, SEO (search engin e optimization), and PR or viral The CEOs also provided details about the most powerfu l tools they used for these commomn marketing efforts.
— Raising funds: Stary with a well-structured website and use PR to build buzz and client testimonials toreinforce value. Back up theswe efforts with a solid, well-designed business Include a term sheet, reinforced with soli d industry data andmarket analysis. Learn how to explain the marketing strateghyto investors. Focus on buildin revenue and achieving definedventure — Early customer acquisition: Focus on proving the valur proposition and ability to deliver. Fundamentals should includes a websiteand datasheets. Using targeted email campaigns to drive up website visitszis key, as is PR to build viral word of mouthn and momentum.
Enabling customer dialogue was also important for buildintg criticalfeedback loops. — Business growth: Visibilit efforts should include a robusyweb presence, search engine optimization, webinars, and building on and offline demanf generation. Use PR to leverage success white papers andROI studies. Creatw customer care loyalty programs, face-to-face customer interactions, and customer education. Gain focus by identifying low-hanginf marketing fruit and measuring effectiveness. When it comes to in-hous e vs.
outsourced marketing the CEOs advisedusing in-housed marketing for direct customer activities and producrt decisions, marketing research, and easy updatese to established marketing programs. Outsourcef marketing talent was used for buildiny core marketing tools and PR marketing andmessaging strategy; and specialty In tough times, marketing is all about generatinbg qualified leads and conversion. In good times, efforyt should shift to increasinbresponse rates, and casting a widee marketing net.
However, duringv all times it’s cruciaol to define marketing goals and objectives measure results, and monitor Remember, survival in a down market won’tr be achieved with just one marketing so try to be nimble and