MarketingSherpa just released a chart showing the changes companies are making in their marketing tactics because of the economy. They did their survey at the end of September, which is before the worst hit, but this shows a lot of the same things we are seeing with our clients.
Both groups are reducing the amount of money spent on trade shows and advertising (except paid search ads), and putting more into Web 2.0 and other types of online marketing.
One difference is that they are seeing more emailing to house lists – we only have one client doing more of that right now. Another is that they see a drop in radio and TV ads. We don’t see that because most of our clients are too small to do that type of advertising.
What’s the takeaway?
If you haven’t given thought yet to doing Web 2.0 marketing, this is a good time to reconsider. It’s not just a way to reach consumers. It’s very good for businesses too.
Start by adding a little more content to your LinkedIn profile – if you don’t have one, get one. Those profiles are consistently showing up near the top of search results when you search on people’s names. (And people who meet with you are googling you just like you google them.) If you like, add to your network by linking to me.
Being a contrarian can work too. If everyone else is dropping their print ads and you make yours bigger, your ads will stand out even more (and your ad rep – who might be willing to cut a deal – will become your best friend).