The economy is still a nail-biter, isn’t it? Buyers are cautious so getting sales takes a lot of work. Costs are under scrutiny. And as if that’s not enough, the entire marketing media landscape has changed. Business-to-business marketing is under pressure to perform miracles (like bringing in easy-to-close sales) while spending less.
Some companies have slashed their marketing and communications budgets, taking the hunker-down-and-ride-it-out approach. If your company is thinking of cutting marketing, here are some important points about the benefits of B2B marketing and communication to share with company management:
- Right now someone is buying what you offer, but if buyers don’t know about you, they can’t spend their money with you. Consistent marketing and communication is critical.
- In a slow economy people are even more particular about who they buy from, and competition is tougher than ever. These times call for you to let buyers know about your company and show them what you stand for.
- Customers may put off buying large ticket items, but pent-up demand will remain. As economics improve, these buyers will turn to companies they know best. Don’t let buyers forget you.
- Price is important, but Value and Service are paramount and must be clearly presented. This calls for ongoing marketing communication.
- Since there is less advertising in the business-to-business media, rates are lower and advertising clutter is substantially reduced. Negotiate to get more for less.
- The new media landscape offers B2B marketers lower cost options. Smart marketers can develop lower cost programs that keep the company in front of prospects.
- An enewsletter can keep your name out there while saving on printing and postage.
- Email campaigns can promote products to customers at lower cost than traditional direct mail. Just be sure you have the recipients’ permission.
- Social media marketing can build credibility by educating your prospects. It also can help you understand market needs by facilitating dialogue.
- Selling to existing customers can be cheaper and more profitable. They are easy to target and are already familiar with you and your organization. Stay in touch, and help them succeed. Special, customer-directed communications will help them feel valued.
Is it any wonder history shows that those who keep communicating through a downturn wind up winning down the line? Keep communicating to be an eventual winner.
Need help formulating an ongoing marketing and communications strategy in this challenging economy? Contact Susan McPherson at Creative Communications Consultants, Inc. at firstname.lastname@example.org.