Marketing In Tough Times 20 No Cost Ideas

Marketing in Tough Times - 20 No-Cost Ideas keithmonaghan.com - marketing strategy info 1/23

Marketing in Tough Times - 20 No-Cost Ideas TOUGH TIMES NEVER LAST (BUT RESOURCEFUL MARKETERS DO) Unless you’ve been ignoring all media you’re probably painfully aware that pundits and experts alike are predicting a long recession, many saying it will last through 2009 and likely beyond. But it’s no time to panic or pull back on marketing. In fact, marketing is more important than ever. Mark-Hans Richer, chief marketing officer for Harley Davidson, put it this way: “Our belief is that spending through a market downturn creates a competitive advantage for the market upturn, and an extra dollar spent today has extra dividends for tomorrow.” And he’s not the only one preaching the value of marketing during a downturn, just Google it for more examples. But they’re talking about spending money, money you don’t have because of vanishing customers and budget cuts by clueless management. Fortunately, there are many inexpensive ways to market. Even better, many of them are made easier by the Internet. Here are twenty no-cost ideas to help you engage existing customers and prospects and spread the word on your product or service. They range from basic tactics to high level strategies, but what they all have in common is that the only cost to implement them is time and effort. And remember, tough times never last, but tough (and resourceful) marketers do. keithmonaghan.com - marketing strategy info 2/23

Marketing in Tough Times - 20 No-Cost Ideas 1. STIR UP INTEREST ON TWITTER The SciFi channel discovered its show, Eureka, was generat- ing a lot of talk on twitter, so they created a twitter site where writers posing as characters talked back to fans. Result: the producers of the show now directly communicate to over 3,000 rabid viewers. They are not alone. Companies like Apple, Southwest Airlines, and Amazon use it too. keithmonaghan.com - marketing strategy info 3/23

Marketing in Tough Times - 20 No-Cost Ideas 2. HOST A GET TOGETHER Use Meetup, Upcoming, or Google Groups to organize a casual get together with your customers. It doesn’t have to be fancy, you can even skip the coffee and donuts, just stick to one of the most overlooked secrets in marketing: listen to your customers. Get a bunch of them together in a room, ask them what they want from you and stand back. I guaran- tee you’ll learn something. keithmonaghan.com - marketing strategy info 4/23

Marketing in Tough Times - 20 No-Cost Ideas 3. CREATE A FACEBOOK FAN PAGE Buying ad space on Facebook is ineffective because people just aren’t clicking. But building a Facebook Fan Page for your product is a free and, arguably, better way to reach your fans by giving them a badge to show off their loyalty on Face- book. Then tell them about it, starting with a link to the fan page on your web site. keithmonaghan.com - marketing strategy info 5/23

Marketing in Tough Times - 20 No-Cost Ideas 4. CREATE A PODCAST An audio or video podcast is a great way to generate interest and attention, just be sure the content is compelling enough to get people to download it by creating a show around what your customers are interested in. Here’s a good tutorial for Windows. If you use Mac OS X you have what you need. For ideas check out how Amazon and Barnes & Noble do podcasting. keithmonaghan.com - marketing strategy info 6/23

Marketing in Tough Times - 20 No-Cost Ideas 5. HOST A WEBINAR I love Webinars. A good webinar informs participants and mo- tivates them to to purchase too. I recently listened to a webinar by Modern Postcard that featured a 20% off coupon. Nice! I plan on using mine for an upcoming campaign. Use free webinar hosting sites like Dimdim, Yugma, and Vyew to show customers how your product solves their problem. keithmonaghan.com - marketing strategy info 7/23

Marketing in Tough Times - 20 No-Cost Ideas 6. STREAM A LIVE EVENT It is easy and free to stream video via Ustream. It’s great for tutorials, interviews, Q & A sessions and whatever else you can think up. Here’s a nice post on creating a professional uStream show by Ian Lurie (who’s site you should read regularly, by the way, because he knows his stuff and he’s funny, need I say more?). keithmonaghan.com - marketing strategy info 8/23

Marketing in Tough Times - 20 No-Cost Ideas 7. HOLD A CONTEST Events like contests generate media exposure and get customers talking about the experience to friends and family. Drumming up word-of-mouth with a contest can be as simple as asking them in what interesting ways they use your product. Be sure to post all entries to your site and shout as loud as you can about the runners up and winner. keithmonaghan.com - marketing strategy info 9/23

Marketing in Tough Times - 20 No-Cost Ideas 8. TAKE CARE OF YOUR EMPLOYEES Believe it or not, everyone in your organization is a marketer, everyone is an ambassador of your brand and, to the customer they’re dealing with, your employees are the face of the company. Make sure your people know you value them during tough times and consider empower- ing them to make the decisions that matter most to customers. keithmonaghan.com - marketing strategy info 10/23

Marketing in Tough Times - 20 No-Cost Ideas 9. IMPROVE CUSTOMER SERVICE The difference between good and great is in the details. Can your customer service experience be improved with a few tweaks or an easy policy change? Do it. Make it as seamless and enjoyable as you can (yes, enjoyable). In short: make it rock, because happy customers are loyal customers and you need those more than ever right now. keithmonaghan.com - marketing strategy info 11/23

Marketing in Tough Times - 20 No-Cost Ideas 10. LET CUSTOMERS KNOW YOU APPRECIATE THEM When was the last time you said “thank you” to a customer? Just as with any relationship in your life, it pays to express gratitude on a regular basis. Sound corny? Think of it this way: Customers who feel appreciated are going to give the love right back in the form of loyalty. Send them and email, make a call, interact with them any way you see fit. Just let them know they are important. It works. keithmonaghan.com - marketing strategy info 12/23

Marketing in Tough Times - 20 No-Cost Ideas 11. FOLLOW UP AFTER A FIRST PURCHASE The previous idea in this list, number 10, was “Let Customers Know You Appreciate Them“. Good advice, but it was fo- cused on existing customers. I’d like to amend that: It’s important to let new customers know you appreciate them too. And because they’re new, you have a unique opportunity to ask them how they discovered you, what they thought of the sales/set-up process, and how you can help them further while it’s fresh in their mind. Oh, yeah, make sure they know you’re glad to have them aboard. keithmonaghan.com - marketing strategy info 13/23

Marketing in Tough Times - 20 No-Cost Ideas 12. SET UP A COMPANY BLOG Many companies are making great use of blogs. Amazon uses a variety of blogs to cross market products. The CEO of Zappos keeps investors and customers up to date via his blog. Even Fortune 500 companies understand the value of engaging customers through blogs. Start by having the free, open source, and highly popular WordPress installed on your site, then do your homework. Here are two guides to help you find the right tone and strategy: 10 Tips for Becoming a Great Corporate Blogger, and Problogger’s Guide to Corporate Blogging. keithmonaghan.com - marketing strategy info 14/23

Marketing in Tough Times - 20 No-Cost Ideas 13. GIVE AWAY E-BOOKS You probably have enough blog posts, white papers, interviews, and collateral lying around to create a great e-book to give away to customers and prospects. The trick: make it relevant and valuable. Maybe a simple How-To guide or analysis of your market. Maybe something more in- depth. You know what your customers need. Just make it interesting enough to drive them to the next step: contacting you directly. Create the e-book in PDF format freely with Google Docs, Zoho Writer, or OpenOffice. Then put it on your site and upload it to Scribd, a popular document sharing site. Similarly, upload PowerPoint presentations to slideshare. keithmonaghan.com - marketing strategy info 15/23

Marketing in Tough Times - 20 No-Cost Ideas 14. CREATE A WIDGET What’s a widget? It’s a piece of code that can easily be installed on a web page or blog without the need for geek-like talent. People like you and me use them on many of the social networking sites to customize our pages with video, pic- tures, music, and more. Papa John’s Pizza lets customers order online with a variety of widgets for computer desktops, start pages, and social networks. Coke has CokeTags, a link sharing widget for Facebook. It’s easy (and free) to create them on sites like Widgetbox. Then, like everything else, make sure visitors to your web site know they’re available. keithmonaghan.com - marketing strategy info 16/23

Marketing in Tough Times - 20 No-Cost Ideas 15. GET ON TV It sounds like a stretch, but according to Tim Ferris, author of the best-selling The 4-Hour Work Week, it’s easier than it sounds. He explains his strategy for getting on TV: “Find statistics that indicate a new trend, tie yourself into the trend, add experts, case studies, PhDs, and other guests to help fill 30 en- tertaining and credible minutes about this topic. Give it a good headline and pitch it to producers at the top shows. It’s a simple concept and it works.” Who knew? I may have to try this one myself. keithmonaghan.com - marketing strategy info 17/23

Marketing in Tough Times - 20 No-Cost Ideas 16. SEARCH FOR YOURSELF People are talking about you online. Find them with Google Blog Search, twitter search, Technorati, and whatever other tools you like. Once you find them, make contact. Respond to their comment. Address a complaint. Right a wrong. Say thank you. Start a conversation. Just let them know you appreciate the comment. Most of them will be happy to hear from you. See also: “Help Your Fans Spread the Love”. keithmonaghan.com - marketing strategy info 18/23

Marketing in Tough Times - 20 No-Cost Ideas 17. MAKE IT EASY TO EMAIL YOUR PAGES Ever notice how web sites like Time Magazine and Amazon have a little “email this” button next to the printing and sharing options? That’s because some visitors just want to skip the social media stuff and go old school. I email myself pages all the time as a way to archive them. Sometimes I even use it as intended: to share a web page with friends. Just remember, people are submitting their email address for a one-time use, not opting-in to your marketing. Respect their trust in you and you’ll be rewarded. keithmonaghan.com - marketing strategy info 19/23

Marketing in Tough Times - 20 No-Cost Ideas 18. KNOW YOUR NUMBERS Peter F. Drucker, the father of modern business management said “What’s measured improves“. Are you measuring your web site traffic? Google Analyt- ics is free, includes enterprise level tools, and features Conversion University, where you can learn how to make sense of the numbers and improve traffic to your site. Now there is no excuse. keithmonaghan.com - marketing strategy info 20/23

Marketing in Tough Times - 20 No-Cost Ideas 19. GO BACK TO OLD CUSTOMERS We’ve all heard the old adage that it’s easier to keep an existing customer than win a new one. But it may also be worth going through your list of older inactive customers and trying to reacti- vate a few of the better ones. Give them a call, tell them you value them, ask what it will take to get them back. You might be surprised at how simple or low-cost it is. If they say no thanks, consider it a learning opportunity and wish them the best. Then call them back in a year and ask again. keithmonaghan.com - marketing strategy info 21/23

Marketing in Tough Times - 20 No-Cost Ideas 20. PUT A GREAT REVIEW FRONT AND CENTER In the book “Yes! 50 Scientifically Proven Ways to be Persuasive“, author Robert Cialdini asks, “How can we show off without being labeled a show-off?”. The answer is get someone to speak about your awesomeness for you. Studies show that social proof–the tendency to look to others for ques on how to behave–plays a critical role in how others evaluate you. If one person says your widget is great, many others will think it must be. Seriously, it’s that simple, and it’s why many web sites prominently display quotes and reviews. keithmonaghan.com - marketing strategy info 22/23

Marketing in Tough Times - 20 No-Cost Ideas INFO ABOUT THE AUTHOR Keith Monaghan is a veteran marketer who helps businesses with their marketing strategy and advises them on building relationships in today’s hyper-social mar- ketplace. He earned his marketing stripes in the Silicon Valley during the dot-com boom (and subsequent bust), where he learned how technology and marketing work together. And sometimes how they don’t. Since 1998, Keith has been helping businesses design their marketing strategies both online and off. When not thinking about marketing, Keith enjoys spending time with his family, playing the guitar, and drinking way too much tea. He writes about all things marketing at www.keithmonaghan.com SHARE THIS E-BOOK Your are free to copy and share anything you find in this e-book. The catch: please credit the author or link to www.keithmonaghan.com UPDATES This document is based on the best information available at the time of its publication. Updates can be found at keithmonaghan.com/ebooks COPYRIGHT INFO The copyright of this work belongs to the author, who is solely responsible for the content. This work is licensed under the Creative Commons Attribution License. WHAT YOU CAN DO You are given the unlimited right to print this work and distribute it electronically. You can put it on your web site. You can email it. You can print it out and give it away. You can transcribe the author’s words as you wish. You may hand it out at your office, conventions or your local coffee shop. But you must give the author credit and you may not charge for it or sell it. Questions? Email the author at blog@keithmonaghan.com for friendly clarification. keithmonaghan.com - marketing strategy info 23/23

Marketing In Tough Times 20 No Cost Ideas

2 comments

Notes on slide 1

6 Favorites