How to Market in a Down Economy

An economic downturn typically spells trouble for marketing budgets. If your marketing budget gets slashed, what can you do to keep sales leads coming? Here's a few tips:

1. Shift to Social Media - A recent study by Cone Inc. found 83% of Americans said companies should not only be present in social media but interact with the consumer using social media. If you believe social media is not happening in your market, now is the time to reconsider. Plus, social media is essentially FREE.

2. Create a Content Strategy - In the social media world, content is king. Social media guru David Meerman Scott said recently that the new marketer will need journalistic skills. The reason is the new marketer will spend most of their time creating content (e.g. writing news stories). A content strategy establishes your company's or brand's messaging platform for the content to be created and published. In the social media world this content needs to deliver value rather than promote. For example, how-to's. Share your knowledge and expertise. Another key aspect of your content strategy is leveraging SEO. You want to be sure your content is focused to drive specific keyword search phrases to your blogs and website.

3. Assign a Content Manager - If your marketing budget gets cut, you will have staff looking for something to do. Choose the strongest writer and make them your content manager. They will be responsible for creating and publishing your content.

Remember, social media is FREE. The other advantage is social media is inbound marketing. That means you spread content throughout the social media world and those buyers seeking solutions will find you. Even in a down economy, there are buyers. You don't have to worry about finding them, with the right social media program, they will find you.

In tough economic times when your budgets are being cut, social media is a great choice.