Sunday, December 14, 2008

Should I keep paying for marketing?

Dear Mariellen, I run a small embroidery business in Charlotte and business has slowed down considerably from last year. I am looking at ways to reduce my spending and I am considering eliminating my marketing efforts in 2009. Am I making the right decision? Amy K., Charlotte Dear Amy, My initial reaction is "NO!" "You can't stop marketing!" But my calm and rational self says... "let's think about this..." I understand your need to cut expenses and find ways to keep your business going during a little economic slump. However, what you really want is more customers and better return on investment. First consider how you get the majority of your business. Do people come to you because they are repeat customers, referrals, etc. or do they find you on the web or in the phone book? You see, this is not the time to spend money on marketing that does not work... I will agree with that. But this is DEFINITELY the time to spend money on marketing that works. If placing in ad in a coupon flier, works well, then do more of that. Consider lower-cost, higher return marketing efforts such as wearing clothing with your logo embroidered on it and joining networking groups and the Chamber. If you never hear anything from people seeing your yellow page ad, that is something to consider losing, or if you spend a lot of money on radio advertising but only see some return, use that money on something more effective. If you would like to talk about your marketing strategies, please contact me at 704.236.0568 or go to my website at Mariellen Auer Agency, Marketing Charlotte
Auer Agency Charlotte, NC 704.236.0568

1 comment:

Meghan Wier said...

I think that too often businesses look to cut marketing from their budgets when times are tough-- but you are so right...You should do more marketing in the lean times--and make sure that it is the marketing that is making a difference, and get rid of the expenses on things that have no ROI.

Marketing Matters! Great Blog Mariellen!

- Meg