As the economy weakens and your competitors cut budgets, you can get the leg up with a thought-out digital marketing strategy.
As the economy grows more uncertain, a common reaction is to cut marketing budgets. Before following the crowd you may want to look for the silver lining. It is likely that your competitors will cut their marketing budgets thereby reducing their media presence. With a few adjustments in your marketing plan, you have an opportunity to eclipse the competition while remaining mindful of budget restrictions.
Now is the time to engage the full range of interactive media to create a powerful, targeted marketing mix. The following presents effective ways to move forward.
Use your data
More than likely your company has been collecting data from numerous channels -- website, call center, direct mail, etc.-- but if you are like many companies this may be as far as it goes. Now is the perfect time to analyze your data.
A thorough analysis may uncover a trend that can be acted upon in a significant way, such as repositioning your website. As major overhauls are time-consuming and expensive, it may be easier, less costly and potentially more beneficial to create a targeted micro-site focused on a particular product, service or niche. With the intelligence gathered, this site should be optimized to yield meaningful results from major search engines. A micro-site is a good way to test the accuracy of your analysis and it can be the basis for a website overhaul later.
You may also consider creating several SEO (Search Engine Optimized) landing pages to target different audiences, which is one of the most effective ways to get powerful results from Google. Here, users arrive at a welcoming page that speaks directly to their search, and are guided to relevant sections of your site. This can bring them closer to a purchase decision or connect them with the information they want. Now analytics equals results.
Digital deals and opportunities
Traditional media buys typically have long leads before their effectiveness can be measured, providing little opportunity to tweak campaigns. By the time measurable results arrive, your budget is depleted. While traditional advertising can be expensive, digital media offers a wide range of affordable advertising options. With the ability to build highly customized campaigns that can be tracked up to the minute and down to the individual user, search engine marketing should be part of almost any advertising campaign. But effective digital marketing does not need to stop there.
Here are a few effective approaches:
Blogs and beyond
Advertising on a community site whose audience is inclined toward your product or service can build strong brand association. By getting involved as an active contributor with valuable content, you become part of a community and are able to monitor what is going on in your industry's corner of the blogosphere. This can gain you invaluable market insight.
To take it a step further, consider micro-blogging through services such as Twitter or Pownce. Here you can keep a group informed of your every move on a moment-to-moment basis and learn what they are up to as well. This can be an even deeper way of involving yourself in the lives of a core group.
Podcasts
Often overlooked as an advertising vehicle, podcasts can also reach a core demographic. For example, if you're looking to reach a tech-savvy audience, consider TWIT (This Week in Tech's podcast.) Or create your own custom podcasts to get your message out. Startup costs are minimal, and if you offer valuable information, you can create a meaningful relationship with your listeners. (See "The Perks of podcast advertising.")
Niche and community websites
The internet has no shortage of websites with unique audiences. MySpace and Facebook are the two communities that come to mind, but there are many others that are even more geared toward specialized interests. Check Ning.com for examples of easy-to-create niche social networks.