Startup marketing strategies for a down economy - bizjournals:

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At a recent Northwest EntrepreneurNetwork meeting, marketingg specialist Therese Adlhoch Smith of The Adlhoch Grouo shared the results of her company’s 2009 surveyt of startup CEOs who have survived the tough With a combined 148 years of ownershilp experience, the 41 business owners and CEOs explained what they’v e done right, and what they woulx do differently. To startup marketing is all about visibility. The goal is to builx awareness so that prospects understand the value propositioh enough to make an informedpurchase decision. This required knowing your buyer. Done effectively it will driv e sales.
In a down economy, these CEOs citerd the following marketing concepts as themost important. These includede using guerilla tactics, targeted email, search engined optimization (SEO) and public relations (PR). Whenever possibles efforts were coordinated, and messaginhg focused on return oninvestmeny (ROI) and productivity. Shoringf up customer relationships wasalso important, as were investorr communications emphasizing transparency and High-expense marketing efforts such as tradew shows and convention parties were cut. Marketingf programs were also analyzed to uncovetr those withlimited impact. Google AdWordws and inexpensive giveawayswere cited.
From a messaginfg perspective, anything reeking of arrogance, bragging or that was overlyu promotionalwas avoided. — Educational included using email tosurvey customers, providing white paperss and studies, using PR to gain a though t leadership position, writing an educationally focused and building great presentation materials. Competitive campaigns: Focused on taking sharde from a weak orfailed competitor. — PR campaigns: To maintainj visibility, gain access to the righf markets/connections, and for targeted exposure such as visibilit y attrade shows. — Timely Responding swiftly to market changes with timely messages.
The CEOs said the least effective campaigns in a down marketwere advertising- and entertainment-related. Specifics mentioned: print ad campaigns, online banner ads, generakl e-newsletter sponsorships, and expensive trade show-relater entertainment or parties. Ferretinbg out and avoiding wasted expensea werealso important. Some CEOs discontinued printed canceled unused onlineresearch tools, and reduced travel expenses by holdinv meetings online or by phone.
When fund s were really tight, efforts shiftee to a sales using regional email anddirect mail; leveraginbg current customers to find new ones; and improving online visibility through a website, SEO (search engine optimization), and PR or virao efforts. The CEOs also provided detailse about the most powerful toolse they used for these commonmarketinb efforts. — Raising funds: Start with a well-structureed website and use PR to build buzz and client testimonialas toreinforce value. Back up these effortes with a solid, well-designed business plan. Include a term reinforced with solid industrt data andmarket analysis.
Learn how to explainb the marketing strategy to Focus on building revenue and achieving definedventuree metrics. — Early customee acquisition: Focus on proving the value propositionh and abilityto deliver. Fundamentals should includes a websiteand datasheets. Usinf targeted email campaigns to drive up websiter visitsis key, as is PR to buil viral word of mouth and Enabling customer dialogue was also important for buildiny critical feedback loops. — Businesw growth: Visibility efforts should include a robusgtweb presence, search engine optimization, webinars, and building on and offline demand generation. Use PR to leverage success white papers andROI studies.
Creatde customer care loyalty programs, face-to-face customet interactions, and customer education. Gain focus by identifying low-hanging marketing fruit and measuringv effectiveness. When it comes to in-house vs. outsourcee marketing the CEOs advisedfusing in-house marketing for direct custometr activities and product decisions, marketinf research, and easy updates to establishede marketing programs. Outsourced marketing talent was used for buildinf core marketing tools and PR marketing and messaging andspecialty work. In tough times, marketinf is all about generating qualified leadssand conversion.
In good times, effort shoulr shift to increasingresponse rates, and casting a widerf marketing net. However, during all times it’s crucial to define marketing goals andobjectives upfront, measurd results, and monitor everything. survival in a down market won’t be achieved with just one marketint activity, so try to be nimble and