Paragon Media One Blog » Economy

The Bottom Line: What Works and What Doesn’t

admin — Wed, 08 Jul 2009 15:15:52 +0000

A lot of companies are trying to cut marketing efforts, in an attempt to save money. Let us be the first to tell you, you can’t cut your way to a profit. Cutting expenses in a bad economy makes about as much sense as taking an aspirin to cure cancer. It makes no sense at all. Like we said before, don’t cut your budget, change it to become more effective.

Let’s take a look at companies who are doing what we approve of; smart marketing. A recession will accelerate the decline of interruption based mass advertising that simply shouts your message to the customer. So, on the contrary, with companies who know what they’re doing, we’ll see an increase in measurable, dependable, relationship-based strategies such as search engine marketing, e-mail marketing, lead nurturing, and online communities. These are all great marketing techniques whether in a recession or not, but they work best in times of an economic decline because of the persona of the marketing effort. Rather than intimidating and scaring away the potential and existing clients, you’re making them feel comfortable, and you know how we feel about making clients feel comfortable. Companies who make an effort to keep spending money on marketing will always stay on top. If a company keeps its name out there even during recession, not only will it boost business during the recession, but after the storm has passed, your name will be the name that’s remembered.

Another good tactic we see companies using is using lead management to maximize the value of each lead. This means companies really take a look at which leads will, well, lead them to good fortune, and which won’t help no matter what. This enables the company to place a value on a service or solution, which enables the customer to see what he’s actually getting. This is extremely crucial during these times, because buyers are already cautious, but they become extremely skittish in economic decline, taking them even more time to make decisions. We hope this helps! Until next time, Paragon Media One checks out.

Instant Gratification

admin — Tue, 30 Jun 2009 15:28:00 +0000

Right now, people want to save money, and they want to save it fast. To tailor your company to fit this immediate change of mindset, you need to showcase ways that you can directly help the client, right now. Explain to them how much money you can save them, today. No one cares about the long run when they’re currently in an economical rut. When people are deciding where there last dollar is going to be spent, chances are they aren’t going to invest it in something that will help them next week. You need to make sure your company gets that last dollar, so to speak. Remember that sense of urgency we talked about? Here’s where it really comes into play. Let them know about your services and how they can provide them with a quick turnaround, not the ones where they won’t see results for over a month. Right now, many business’s are in a financial state of emergency. People all over the world are running around thinking the sky is falling, so be the one to help them through it, right now.

Brand Experience

admin — Mon, 29 Jun 2009 17:36:05 +0000

Still bound and determined to gain new qualified buyers? You’re not alone. That’s why you need to be sure your game is as stepped up as it can be. Never fear, Paragon Media One is here with more solutions as always. We know we’ve already said not to waste your marketing efforts on building your brand, but there is some work you can do on your existing brand status that will help you to gain clients. It’s called brand experience. This means finding a way to improve the story of the brand, and how your brand is differentiated from other company’s brands during a time when not everyone is in a strong economical position. Right now, everyone is looking to save money. What you need to do, is come up with a warm and fuzzy story, appealing to new and existing clients, letting them know that you understand what’s going on around the world, and that you know how it’s affecting the economy. Let them know how much you care, and that to make an impact on helping the economy, you’re going to do whatever it is you can do to save your valued customer money. Think of your best rewards program, or your biggest discounted service, and use it here. Let your customers know that you’re doing your best to provide quality services to them at affordable prices, and let them know how understanding you are of the downfall of the economy. It will make them feel taken care of, it will make them feel like you are the one waiting by the stove making hot cocoa after a long day out in the cold, and we all know how great that feels. Right now, it’s all about gaining trust, and making your customers feel comfortable. So be sure to do just that, and you’ll be gaining clients in no time.

The Urgency Factor

admin — Fri, 26 Jun 2009 19:29:25 +0000

There are a few common misconceptions about the human race, especially when creating a marketing plan. We tend to create the “perfect buyer” in our heads, thinking that our marketing plan is flawless, and that everyone who looks at our services will immediately want to buy. Well, it’s always a little rough to face reality, but you’re going to have to in this case. Just like humans don’t automatically fall into love deeply at first sight, just like humans don’t always say what’s on their minds right when it comes to mind, just like humans don’t even pee when they first have to, humans aren’t impulsive enough to just look at something, and buy it, and especially not with the way the economy is right now. This puts you in a position to give urgency to the potential buyer. Give them no other choice, let them know how much they need this service, how much this service will get them through these trying times unlike any other solution you’ve ever had for them. Let them know that others are doing the same thing, and that they need to jump on the bandwagon before it’s too full and it leaves. Humans in general are a little like sheep; they go with the herd. It’s called herd-mentality, and it means that if people see other people doing something, they are more likely to repeat the behavior themselves. So, with that said, if someone sees other companies using a service, they’re going to want to use it as well. And, on the other side of the coin, if people aren’t buying a service, well, you know the rest. Your job is to make sure customers and prospects know how much they need your company and the services and solutions you have to offer. Don’t give them other options. Don’t be shy about selling what you need to sell. Let the potential buyer know not only what the service will do for them, but also what will happen if they wait to purchase. Or worse, what will happen if they don’t purchase at all. Being aggressive shows authority on your part. The potential buyer will notice this, and will feel automatically needy of whatever it is you have to offer. Be sure to tune in to what the people are asking for. Right now, its saving money, and it’s trying to market your company when times are tough. Call out to that. Grab on to someone, and don’t let him or her go until you know they’ll make a move. It’s the only way to get someone reeled in with the economy the way it is right now. Remember, be aggressive! B-E Aggressive!

Clear Skies Ahead. (Well, for business at least)

admin — Thu, 25 Jun 2009 15:10:16 +0000

Save, save, save! That’s all you may be hearing in these trying times, along with a small little “cha-ching!” every time you make a move. That’s ok, everyone is. You are not alone, we promise. We can’t help you create a complete budget for your company, and we can’t make the constant chiming of a cash register go away, but we can help you through it, and give you advice on how to save money when it comes to marketing. We’ve done some recent research that shows that the best possible way to save money when marketing your company is to reduce spending on long term branding. This may sound like a bad business move, but think about it. Most people can’t even think past their next paycheck… let alone even further into the future. The economy is just in a slump, companies are thinking for right now, they’re making decisions that will immediately turn a profit, or for immediate benefit. You can’t blame them, and we bet you’re doing the same thing. So, don’t cancel the long-term marketing, but definitely put it on the back burner for right now. Your company can and will do well with out it, for now. Your money would be much better invested in things like tactical campaigns, media outreach, and search engine optimization. You know, things that are directly linked to the customer. Another marketing effort that always works is to keep friendly offerings and specials, and to keep offering them to clients and qualified prospects. A lot of companies make the mistake of thinking big during these times, but the best way to get your message heard is to relate directly with your clients. So don’t think doing things like broadcasting, participating in large) events, sending 3rd party e-mail blasts, or posting banner ads are what you need to do. Studies show it’s actually intimidating to most people, thinking they couldn’t possibly afford a company like yours. So instead, focus your efforts on smaller marketing techniques, such as webinars, pod casts, and whitepapers. Next to come: keeping your customers and prospects on the edge of their seats, and getting immediate return on investment.

Market Smart

admin — Wed, 24 Jun 2009 15:14:57 +0000

With the economy not exactly flourishing right now, we can understand why you may feel like you’re running around like a chicken with your head cut off trying to keep your sales from plummeting. Don’t worry, we’ve got some tips to help you keep your sales from going anywhere but up. Instead of trying to create new solutions to fit the declining economy, you’re better off cutting programs that you offer that don’t bring in enough sales, that way you can focus your efforts on the services and programs that you know will work. We suggest finding your top three of four services, and then market, market, market. You don’t have to get rid of the rest, but let’s say your company offers 10 total services. Scale the services from most moneymaking, to least moneymaking. Get rid of the bottom three, and use the budget you were using on marketing for those services, and double the marketing for the top three services. Make sense? We hope. By showcasing the services that you know work and work well, it’ll leave you with a more effective marketing budget, and with the ability to more strongly promote, leaving you with the best possible chance of a buyer. Be sure to check back in next post to find out more about smart budgeting and saving money in the marketing department.

Free Information

admin — Mon, 22 Jun 2009 16:25:26 +0000

We’re back, and with that free information, as promised. Blogs aren’t really your thing? We get it, sometimes, if you don’t have the resources, a blog might actually be more costly, in relation to the amount of time it takes to write and edit them, than they are worth. If this sounds like your company, you might be better off with some kind of forum, you know, a type of message board. All you’ll have to do is think of a question, you can even have employees and colleagues answer, to get conversation started. This makes customers feel comfortable, it drops the stuffy professional tone, and gives them a place to feel like they can open up. This especially works out in times like an economic decline, because people don’t like to feel alone. If you get the topics geared toward the economic decline, and ask people how they’re handling their business decisions, others won’t feel like they’re the only ones going through it. When people are curious about how others are doing in trying times, a forum gives them the perfect opportunity to discuss, share information, ask questions, and feel comfortable. We’ve given you some ways to save your clients money, so check back to see how you and your company can save money.

Get the Whole Crew Involved

admin — Fri, 19 Jun 2009 15:30:55 +0000

Ever heard of the phrase, “Nothing is ever free”? Well, we’re here to tell you to get that phrase out of your head. We’re going to tell you about a few ways to market your company, and get your customers and prospects to trust you, for free. Think about all of the employees you have working for you, or if you’re not the owner of your company, think about your colleagues. Now, with the exception of the new guy, everyone pretty much has found the most efficient way to do their jobs throughout the day, therefore making them somewhat of an expert in their particular field of work. So, with that being said, the moment you’ve all been waiting for… FREE! What you can get for free out of your employees or colleagues is information. Shortcuts, back doors, ways of doing things that don’t fail. Now, of course you don’t want to share every secret of your company, especially knowing that anyone can access information over the Internet. So, why not share some of it, or even just give your customers and prospects a little taste of the secret, but without giving them the full snack? Go around and ask each person to write a blog for your site. It’s simple, easy, and free. It makes your company look like an information source, which will gain trust from prospected clients. And, if you want to, designate one person to collect and write all of the information into separate blogs. Or, if you don’t have someone who has writing talent, you can come to us, and we’ll do it for you! Blogs aren’t your thing? Find out next post about another free way to advertise.

Dollars and Sense

admin — Tue, 16 Jun 2009 11:00:21 +0000

Save, save, save! That may just sound like music to your ears with the economy’s current state. Well, our answer is SEO, SEO, SEO! You may be wondering how SEO can save your company money, and because we know where that money saved may be even more valuable, we’re here to help explain.

SEO is among the most cost effective ways of marketing. It helps with targeted traffic, the type of demographic you actually want to search your site, and will increase the number of visitors who are actively searching for your service or product. Ultimately, this means increased sales of the product.

Search engine optimization’s cost effectiveness is based on the fact that you are spending money one time, to have the site optimized, and then you’re finished. Unless you frequently have the site optimized because you’re adding new content, the search engine does the work for you. Where can you go wrong?