How do you market yourself in a recession? These day’s you may as well be asing, “How do you get people to spend money they don’t have?”
Marketing always comes down to tapping into the consumer’s needs. And right now, consumers need to save money. So if you can’t do that, you’re up the creek without a paddle.
For small businesses, especially service based businesses (like attorneys, mechanics and massage therapists), that’s exactly where they. After all, who would want to hire a bargain basement electrician?
So how do you market your business in a recession?
Rule 1: Do not waste any time or money on “just getting your name out there”: Don’t think for a second you can solve your problem by making more people “aware” of you. Consumers can find any business to fill any need. And they do it when they want and how they want. The problem is that consumers don’t have enough money to spend on the businesses they already have relations with.
Rule 2: Build your network: Join Biznik. Go to networking events. Get on some advisory boards. Take pro-bono projects. In other words, make lots of friends you can call on when the economy recovers.
Rule 3: Barter: This is why we created Dibspace. When there’s not much cash going around, bartering is the natural response. Not only will it help you offset other business and personal costs, but it’s also a powerful marketing tool because it showcases your work, builds your network and gives you a powerful message that stands out amidst all the ordinary marketing chatter.