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How To Thrive in 2009
5 Don’t stop marketing
According to management professionals,
cutting your marketing budget during
a recession is a major mistake. “Studies
show the companies that spend more
money in marketing during a recession
come out more successful,” says Tom
Economou, vice president of sales at Sunrise
Identity (asi/339206). “Nike tripled its
advertising during hard times in the 1990s
and saw its profi ts go up nine times after
the recession.”
Consultants believe clever and assertive
campaigns can help you steal market share.
“You need to be at the forefront of customers’
minds,” says Drumm McNaughton,
president of the Institute of Management
Consultants USA. “Position yourself as the
leader.”
That’s the goal of Pady Regnier, CEO
of St. Croix Promotions (asi/316309).
“We’re having an ‘I refuse to participate
in the recession’ promotion,” says Regnier.
“We’ve printed T-shirts and we sent them
to our best customers.”
Regnier also created a blog that she features
on her Web site.
“I try to update it
three times a week,” she says.
If blogging is not your style, just try
being kind. Donating products to a local
charity is a great way to serve your community
and score free advertising points. Send
out a press release and you might receive
valuable media coverage, as well. At Madden
Corporate Services (asi/259280), all 11
sales representatives are involved in a local
or regional non-profi t. “Whether serving
on a board or rolling up their sleeves to
volunteer time, we fi nd this is a good way
to network and help the community in
the process,” says Steve Madden, company
president.
Also, consider ways you can stand out
from your competition. Teresa Moisant,
owner of Moisant Promotional Products
(asi/275276), decided not to cut back on
giving Christmas gifts to her clients this
past holiday season. “I spent just as much
this year so the gifts were equal value
compared to last year,” Moisant says. “I
learned in retail that you have to continue
to advertise. You never want to give your
customers a sign that things are bad.”
Now can also be a good time to evaluate
the appeal and usefulness of your Web
site.
continued
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