After one of the worst periods for sales in retail history, some of the largest retailers in the country are saying that this year they are going to work harder than ever at increasing sales while trying to contain marketing expenses, according to a Dow Jones story that ran this morning.

Their solution? The Internet.

“We’re looking at how we can be more targeted in how we talk to our customers,” said Barbara Hagen, senior marketing director for brand strategy and communications at Best Buy Inc., who was speaking at the National Retail Federation’s annual convention in New York City on Sunday.  She described marketing tactics designed to increase their visibility and drive people to their Web site to buy online or head to their retail locations. “It’s also a way of increasing loyalty and retention.”

She’s right – PR is the best way to leverage the Internet. It is the only marketing tactic that combines the power of print, both offline and online, with one stroke.  A single article in traditional print publications can also appear in their online publications and then can be republished and redistributed by numerous others on social networks.

The new media and PR are a match made in heaven for increasing awareness about your company and products:

1. PR is trusted – According to Forrester Research, 45 percent of people surveyed trust the editorial sections of the newspapers and magazines they read (offline and online).  But, 85 percent of consumers don’t trust the advertising that bombards them.
  
2. PR delivers credibility – If the reporter at your local daily newspaper sees fit to write about your company in a positive light, it amounts to a tacit endorsement of your company by the paper. That carries weight and trust that you just can’t buy with display ads in that same publication.
 
3. PR reaches the masses – In an age where more people are getting their news online than offline, it would appear on the surface that PR is losing its punch, but nothing could be further than the truth. Every newspaper and magazine repurposes its content online. In fact, the Audit Bureau of Circulation said the Internet readership of newspapers exceeded 75 million unique visitors last year, an increase of more than 23 percent over the previous year. People are STILL reading newspapers and magazines – and they are doing it online.
 
4. PR on the Web is closer to your customers – No matter your business or your potential customer, the ones who are ready to buy go to the Internet to research their decisions BEFORE they reach for their checkbooks.  Articles about your company and product can confirm their buying decision and, in many cases, put your consumers one click away from your Web site – your virtual storefront.
 
5. PR is Social Network Compatible – The best way to draw the ire of the millions of Facebook and Twitter users is to be too commercial in your updates and links. If you currently use social networks to generate new business, you already know you cannot be too overtly commercial in your posts.  Tweeting and providing links to legitimate stories in the media about your company is not the same animal, however. In fact, these postings typically help generate greater buzz and far more one-to-one contact with potential customers.
 
6. PR online is happening NOW – Right now, your competitors are working all these angles in growing numbers. No matter your business, companies – like Best Buy – are getting smarter about connecting the dots between their customers, the Internet, their message and their sales. Every day that you wait, they gain ground and you lose it.

The challenges of the new decade aren’t going to get easier, and economic recovery won’t be a magic wand waved by the government. We have to do what we know is smart, prudent and cost effective to drive our businesses forward. PR meets all those requirements more so today than it ever has before.

For 20 years Marsha Friedman has been a leading authority on public relations as CEO of EMSI. Go to www.emsincorporated.com to signup to receive her free PR Insider Newsletter today! Or call at 727-443-7115, ext. 202, or email at mfriedman@emsincorporated.com.

Article Source:http://www.articlesbase.com/marketing-tips-articles/how-can-businesses-increase-their-revenues-while-spending-less-1730836.html

In a recession most business leaders will mentally accept that trading conditions are difficult and as a consequence lower expectations/goals. This mind set can then become self fulfilling as the mental state that creates this thinking will determine the actions of that individual. His reduced expectations are felt by employees and, guess what, standards slip, performance suffers and targets are not met but he accepts it all.

Many business owners will expect poor performance or even “freeze” become inert and incapable of making decisions.

If you think you’ll lose you will, if you believe you can win you very probably will.

If you are responsible for dictating budgets don’t cut the marketing budget, if you are responsible for marketing but don’t dictate the budget, fight to ensure it isn’t cut with reasoned argument and the proven factual arguments for maintaining spend

The key to success is to not cut your marketing budget and do nothing but to revise your marketing strategy. The following ideas are all crucial marketing activities in a recession and your strategy should be altered accordingly:

1. Hold back on any “test” marketing and concentrate on doing more of what you know already works.

2. Ensure you have an effective programme of keeping in touch with existing customers to ensure loyalty, using every means possible; e-mail, letter, newsletters, phone call, personal visit, make them feel wanted especially during a recession, if you have their confidence they’ll want to stay safe…with you.

3. Identify the element of your prospects and existing customer base least likely to be affected by a recession either through the nature of their business or their financial strength and concentrate your marketing strategy on them, seek successful vertical markets. Avoid marketing to sectors most affected they will prove to be less profitable and obviously more vulnerable.

Try to develop a “We are the experts” mentality in your marketing. In a recession customers want to stay safe with somebody who knows what they are doing….”the Authority” on a subject.

For over 17 years we’ve been designing and fulfilling creative solutions for hundreds of businesses, helping companies like yours to promote their business services with the creative talents of our expert team of graphic designers and print professionals.

www.rasgroup.co.uk

Article Source:http://www.articlesbase.com/marketing-tips-articles/marketing-strategy-in-a-recession-1468678.html

The tough economic times have made customers to be increasingly choosy so as to limit their spending and save money. The reason for this is understandable because they do not want to chance on a product or services that may not deliver. Therefore, as a business owner you need to be consistent in product quality or you may risk losing the loyalty of your customers.

Good marketing strategies should ideally create a certain business image brand, hence realize that your target market has a particular expectation about the product or service you are trying to promote and it is vital to meet these expectations. Failure to meet these expectations will result in your clients being disgruntled and they will surely end up trying other products.

To have an edge over your competitors, be clear about what makes your services stand out. By doing this, you are able to track whether your competitors are trying to duplicate the features of your products/services. In addition, you are in a position to concentrate on communicating to your customers on the unique aspects especially when your competitors are finding it difficult to copy your products/services.

A good product performance that meets the expectations of your customers will definitely improve the image of your company and thus result in a strong business brand. Create an atmosphere for your workers to be innovative, thus your competitors will constantly be trying to catch up with you. Also, try to make it expensive for your competitors to duplicate your products. Even more importantly, be on top of your customers needs and continuously work towards thinking ahead of them.

Stephen is an Business Organizing Expert . He researches and studies on big and small business strategies . Website: Business Management Solutions for efficient business operations.

Article Source:http://www.articlesbase.com/marketing-tips-articles/marketing-tips-how-to-improve-your-business-brand-and-overcome-your-competitors-1401854.html