How to market during a recession and tough times.

As the economy slows down, businesses are finding they have to cut their marketing budgets and are looking for more cost effective forms to get the message out about their products and services.

Add to this the traditional forms of marketing like TV, radio, print and cold calling are now getting diluted with new technology blocking many of these from ever reaching prospective customers.

People can record TV shows without the adds, they redirect calls to their voice mail to screen at a later time and many people get their news and other information from web services, screen their emails with spam filters and generally are able to screen out most things coming into their lives.

When people buy things they are more likley to go online and look for the information themselves, ask people in their facebook list or look for referals from others.

Enter the new marketing paradigm called Inbound Marketing.

There are three specific ways Inbound Marketing improves on the efficiency of traditional marketing:

(1) It Costs Less – Outbound marketing means spending money – either by buying ads, buying email lists or renting huge booths at trade shows. Inbound Marketing means creating content and talking about it. A blog costs nothing to start. A Twitter account is free, too. Both can draw thousands of customers to your site. The marketing ROI from inbound campaigns is higher.

(2) Better Targeting – Techniques like cold-calling, mass mail and email campaigns are notoriously poorly targeted. You’re reaching out to individuals because of one or two attributes in a database. When you do Inbound Marketing, you only approach people who self-qualify themselves. They demonstrate an interest in your content, so they are likely to be interested in your product.

(3) It’s an Investment, Not an Ongoing Expense – When you buy pay-per-click advertising on search engines, its value is gone as soon as you pay for it. In order to maintain a position at the top of Google’s paid results, you have to keep paying. However, if you invest that money in quality content that ranks in Google’s organic results, you’ll be there until somebody displaces you.

Unfortunately you will not find out much about this new concept from the people who design your website because they are not marketers. They are designers and like in the past many do not communicate with the marketing dept.

The days when a pretty brochure style website would draw customers has come to an end and the business that utilizes Inbound Marketing techniques will dominate the market place.

In our next post we will discuss what these new marketing techniques are. To keep up be sure to use our rss feed or get the post delivered to your email box.

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