How can your business utilize cost-effective marketing?

A companies ability to survive or do well in this recession may depend heavily on a company’s ability to market effectively.

How is Marketing defined?

The Chartered Institute of Marketing defines marketing as “The management process responsible for identifying, anticipating and satisfying customer requirement profitably.” Marketing is a highly complex, multi-dimensional task that is essential to the growth and stability of a company. It can take many forms. While many companies may have relied on a consistent database of clients or customers, it may now be necessary to utilize marketing to reach out for new business.

Kim Rathyen, Marketing Coordinator at CPS, states: “Your marketing approach should be very well-rounded. In this economy it is important to be open-minded to trying new things.”

But what about the cost?

Making the room in your budget for a marketing plan may be difficult. However, without consistent presence, your company may risk a drastic decrease in revenue.

There are many ways to create a cost-effective marketing plan. Technology has really helped to make this possible. There are plenty of online opportunities via networking sites such as ‘Linked-In’ or the less formal, but highly popular site ’Facebook.’ Also, e-mails, social-networking events, and community involvement are all great ways to reach out and increase presence at a low cost.

How can you market
effectively?

As marketing can be very time consuming, it is essential to do your research. The Chamber of Commerce and The New Jersey DOL, both provide information on which industries are doing well, and many other search engines, can provide you with the information you need to plan your target industries. The more you know, the better you can pin-point the companies you need to market to. This will drastically help to decrease your chances of wasting your time, resources and money.

Don’t have the time to do Marketing?

Marketing requires a lot of planning and a good marketing plan can take a lot of time and energy to carry out. Assigning the task to a specific individual can help keep things organized and more efficient. Also, it is never a good idea to have marketing take away from another employee’s job. For example, incorporating marketing into the customer service representative’s duties will distract from the equally important role of maintaining customer satisfaction.

How can you incorporate marketing without hiring a new, full-time employee?

CPS can provide you with an experienced marketing representative.