Each month, Brian Joseph Studios contributes to the Fort Myers Beach Chamber of Commerce member newsletter, in a section we call “Techie Bits”. This article each month provides marketing tips, technology help and much more, so it seems like the perfect content to start posting here in our news section.
Here is the January 2009 “Techie Bits”:
Some are predicting that the 2009 season for the Fort Myers Beach area is going to be a slow and quiet one. However, we all know that there is still always going to be a large number of visitors to this area no matter what so while the big guys hold back on their marketing budgets, it is the perfect opportunity for the smaller companies to get some exposure in a normally overcrowded market. Remember, in good times nearly 80% of a company’s business volume comes from its top 20% of its clients. In a recession that 80/20 rule is replaced by something more like 95/5.
Small and mid-sized businesses should consider offering benefits and incentives that address the major causes of pain for their best customers during these lean times. Learn from other industries and figure out what they are doing to stimulate business. Sometimes the germ of an idea in one industry or profession can release a torrent of new “outside the box” ideas for a small or mid-sized company willing and able to take the risks. A recession is the perfect time to cut some expenses, but do not cut them across the board. You need to really look closely at each expense and build a plan for the long-term future rather than just blindly downsizing all of your efforts.
Another great way to market when your budget is tight, is to find a partner in another industry that will work with you to gain exposure. This not only splits the cost of the venture, but it also doubles the benefit to the potential consumer with an offer from two companies in one ad. A recession like this is not to be taken lightly, but there are ways that smart and dynamic business people are turning this downturn into a positive.
Don’t run scared, head towards this time fighting and develop new ways of generating revenue. Here at Brian Joseph Studios, the week the stock market dropped a record of over 800 points we received more requests on our website than any week in our history. Each business that contacted us that week gets it. Do you?