Notes from Jeff York

Small business marketing thoughts from a marketing small business owner

Marketing in a difficult economy

with 8 comments

As a business owner, current economic times provide you with endless challenges and possibly sleepless nights. When you’re worried about dwindling sales and if your bank is going to pull your credit line, it’s hard to think about growth. Ever wonder what the smart business owners are thinking about during these turbulant times?

How do I grow market share?

There it is. The smart businesses around us are thinking about turning these challenges into an opportunity. They are getting the message out there about their goods and services. They are developing top-of-mind awareness in the public at a time when their competitors are pulling marketing dollars off the table. Why? Exactly for that reason. The best time to build market share is when there’s no opposition.

In the past, I’ve written about cutting through the clutter and getting your message heard. Times like these make that task much easier. Fewer messages mean it’s easier to remember yours. Put your message out there. Repeat it over and over. If you do that, what do you think will happen?

In a recovery situation, you will be miles ahead of your competition. You will have built tremendous value in your brand and increased your opportunity to gain market share.

I know it’s hard to think along these lines when it seems like the sky is falling and money is tightest. But this truly is an opportunistic time. If you’re thinking about cutting back on your marketing budget, I would caution you to perhaps examine your strategies and concentrate your efforts to maximize success. If you’re thinking about cutting your marketing budget altogether, I have a message for you from your competitors:

Thank you.

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8 Responses

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  1. Wow, nothing is more true in these times. Excellent writing.

    Topher

    October 19, 2008 at 10:00 am

  2. Update…just came across a great related website. It’s 20 ways to market your business today in this difficult economy. Check out http://tinyurl.com/64wqjm

    Jeff York

    October 22, 2008 at 12:32 am

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