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FYI is your source for the latest news and information about tourism and marketing from here at home and around the world. Please feel free to download and print any of the articles contained in this section.
- The Reinvention of City Places
- Marketing Basics for Interpretive & Heritage Sites and Attractions Part 3
- How to Include Green Requirements in Meeting Planning RFPs
- Marketing Basics for Interpretive & Heritage Sites and Attractions - Part 2
- Top 10 Best Green Practices for Meeting Planners
- Marketing Basics for Interpretive & Heritage Sites and Attractions
- How to Keep Your Website Interesting and Visitors coming back
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Maxx Marketing News
Marketing in a Recession
Companies need to understand marketings role and its impact on sales in their organization. Are knee-jerk marketing cuts destined to hurt business in the long run? Most likely, but strategic reductions based on customer-spending capacity and the marketing impact on an organization’s sales process is intelligent business practice.
If your company reduces communications to your current and potential customers and your main competitor maintains or increases communications to your current and potential customers, whose business is more likely to grow during and following the recession? Again, each organization is unique.
Regardless of the data, if the revenue isn’t there no one is going to be able make the marketing budget appear, especially for small to midsized businesses. So, instead of trying to fight the futile battle of finding yesterday’s budget, marketing professionals need to become smarter with what they have. But what does that mean?
It means setting measurable campaign goals before kicking off a project. Talk about the result first. If you cant confidently say you can launch a campaign within the allotted budget and achieve the desired result, scrap the campaign and move on to something measurably achievable.
It doesn’t mean social media because that’s free! Unless you consider man-hours free, social media is not free, and it can in fact be a costly time drain without a clear vision of the social-media campaign and, again, measurable objectives.
It means continuing to spread your media mix but keeping it manageable. You can’t be everywhere. Choose media that you can focus on and continually improve as initial results are analyzed. If you can do only enough of a campaign to pull one round of data from each communications channel, go with fewer channels that will have the most impact.
And, finally, it means fighting for customers. The fact is, some companies are not going to make it through the recession. You have to get creative with pricing, and product and service offerings, and work harder than the competition.
It’s not that companies need to spend on marketing during the recession; rather, companies need to appropriately plan their marketing during the recession. Yes, market—but market smart.
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