Marketing: The Times, They Are A-Changin’

We’re all familiar with the Bob Dylan tune. That is especially true when it comes to your marketing dollar. The times we are experiencing now require rethinking everything we have held to be true in the past. Today’s marketing is very different than it was even three years ago, and no one today has money to throw into anything that will not produce.

That being said, what are you doing with your marketing dollar? Have you cut your overhead to balance out lower demand, or cut your productivity? You probably know you have to market differently, but how? What is the systemic difference between a fully functioning, income producing company, and a company having trouble paying its bills? 

The Difference Lies in What Your Target Market is Doing, and Where.

That may seem like an oversimplification, but often the answers are right under our noses. Our culture is a strange mix of social/anti-social behavior. Statistically, today’s parent is less likely to know his next door neighbor or the parents of his children’s friends, yet they would probably consider themselves to be social if they were involved with any one of the number of social media outlets that exist online today. If a service or product is great – or even if it is less than desired – people will be talking about it online.

While it’s still somewhat common to expect your customers to look for you in a phone book, they are much more likely to look for your company online. Online they can compare services, standards, and peer reviews of the company they’re interested in hiring or buying from. Don’t underestimate the power here.

Today’s marketplace is largely online. Whether or not you’re hanging out online, the odds are good that your customers are.

• What does your online presence say about you?

• Is it presenting your company and services in the best possible light?

• Are you reaching your target market?

• How would you know?

Now more than ever, small businesses that expect to compete and survive need to know how to compete effectively. That’s going to take asking these questions, and answering them.

We’d love to hear what you’re doing differently.  How are you adapting to the changes this year?

Image Credit: vwcamp by intomwetrust2 on flickr