We all know what’s happening in the economy. We’re living it. Homeowners are in trouble. Home buyers are nowhere to be found. Banks aren’t lending. Consumers aren’t spending. The sky is fall. Responsible businesses are slashing spending across the board to ride out the storm… Or are they? Or should they be?

Penn State’s Smeal College of Business * study, “Turning Adversity Into Advantage: Does Proactive Marketing During a Recession Pay Off?" , finds that companies that proactively market during a recession not only survive but thrive. Marketing dollars spent during a down economy are more powerful than the same amount spent during the good times, because each dollar represents a greater percentage of the marketing pie.

This isn’t time to launch a huge branding campaign, but it is the time to weigh every penny against results. Just getting your name out there isn’t enough. Accountability is important in every aspect of your business. Marketing shouldn’t get a pass.

·      How many people are seeing/hearing your advertisement? (If you can’t answer this you’re losing money!)

·      How many people are responding to your ad?(Same as above!)

·      Your buyers have changed the way the research and buy. Have you? Forrester Research found that in the next six months 26 percent of interactive marketers plan to increase their interactive marketing investments and 46 percent will maintain them at current levels.   GTS' own Mike Jones has a great blog post on this subject.

What have you found that works? Are you doing enough?

*I sincerely apologize to my fellow University of Pittsburgh alumni for noting a Penn State Study.  I tried desperately to find something from anywhere else.  (It could be worse.  It could be West Virginia).

It's a new year, and a time when many are trying to improve themselves through one or more New Year's resolutions.  Maybe its health related, exercise more, eat healthier, quit a bad habit.  Or, it could be other self-improvement goals, spend more time with family, save more for retirement, etc.  We are creatures of habit, good and bad.  And, we will continue to do the same things we have always done without proactively making an effort to change.  This is true for business processes as well as personal life.

If you have been using your business software for quite awhile, there's a good chance you have developed a comfortable routine.  You run the same reports every day.  And, sales processes and product structures created when the software was new are still being used.  While everything seems to be working fine, you may be missing out on significant value from new reports and functionality that have been added since your system was implemented.

To ensure you are getting the most value from your software:

·        Read the release notes. They are a valuable resource to highlight new features that have been added.

·        Review the resources available on www.gtscommunity.com . Online training and user discussions can highlight creative new ways to use your system.

·        Review the available reports. If there ones you don’t recognize, print them out and see what information they provide. The next revenue generating or cost reducing idea may come to light by looking at the information in your system differently.

·        Review the product structure. For complex products with several options, utilizing the Fabs & Options features properly can speed up order entry, standardize pricing, and maximize profitability.

·        Capture crucial information. Think of information that could be valuable to analyze your business and capture it in a new custom field.

So, take some time soon to get reacquainted with the capabilities of your business software. It will go a long way in helping you achieve your business goals.

It is brutal out there. Banks won’t lend to each other, consumers are holding back spending uncertain of the future, and companies are cutting back as they have lost faith that consumers will buy.

Although times are tough, history has shown us that companies that invest wisely in marketing during economic downturns can steal market share and strengthen brand image.

You only have so much budgeted for marketing.  A wise move in 2009 might be to shift some of those marketing dollars on-line.  Internet marketing can prove more cost effective, targeted and measurable than traditional advertising.

Here are five on-line marketing strategies that I believe can help you survive the downturn to emerge stronger and ahead of the competition.

Demand Accountability and ROI

Is data driving your marketing? Do not rest until the value from your marketing plans and activities can be quantified and measured.

By using web analytic tools you can see how visitors found you and interacted with your site. You can determine what messages work and don’t work. And by integrating your on-line efforts with your off-line advertising you can deliver consistent, planned messages to move buyers comfortably through the decision making process.

Test, test, and re-test. The web provides an inexpensive way to experiment and come up with creative ways to engage customers and prospects. Continue to iterate and test focusing on continuous improvement.

Leverage Search Engines

Although the market is tough, buyers still need information on what to buy, where to buy it and who is providing the best deal. And today, over 80% of consumers and businesspeople turn to search engines to get the information they require.

Traditionally, we try to interrupt potential buyers with our advertisements to get their attention. On search engines you serve up an ad that is relevant to exactly what they are researching. Ads are actually welcomed by the buyer.

Build Your Brand On-line

Determine where your target customer is performing research and consuming on-line content for advertising opportunities to hammer home your value proposition.

Stay Close to Customers

By participating in or spending time exploring social sites and blogs that relate to your company’s demographic or target customer you can learn more about their needs and your competition. You can merely listen in or even contribute.

Focus on Trust

Buyers are generally skeptical of marketing messages and advertising. And now, the economy is delivering a major blow to consumer and business confidence. Because they have limited funds the risk of buying the wrong product or service is increased. They need to turn to companies and brands they can trust.

In today’s connected marketplace it is more critical than ever to leverage the fact that consumers trust each other more than they do marketers. One bold move you can take is to allow customer ratings and reviews on your Website. Although the possibility of negative comments may make you nervous, buyers will appreciate your company’s openness and vulnerability.

This economic downturn will be difficult. But, there is an opportunity for those that choose to act.