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Tips for Marketing Lead Generation in a Down Economy
- Published: 20/11/2008
- (Revised: 02/02/2023)
- Reading time: 2 minutes
All businesses look to save money while still growing their client base, especially in a down economy. Here are a few tips for marketing lead generation which highlight how to achieve this goal:
Marketing Lead Generation Strategy
- Isolate a target market that is less affected by the economic downturn and single out a segment that will benefit from your solution.
- Make sure your product/service is attractive when compared to the competition.
- Target the competition’s customers. Make sure they know you are still going strong and want their business.
Marketing Materials and Online Lead Generation
- Have a website that drives strong, focused leads with a view to converting these leads into clients. Web sites are great for online lead generation and for fostering communication with customers.
- Have marketing materials that are up-to-date and accurately represent your core competencies. Ensure that these materials are consistent with your product/service positioning.
Advertising to Get Clients
- When the budget comes down to branding vs. marketing lead generation, focus on driving leads. For the most economical – and effective- marketing approach, online lead generation is the way to go.
- Commit to long-running advertising campaigns to get clients, thus allowing you to lock-in to pricing at a very low rate possible.Also look for value-added opportunities for editorial features and promotions to enhance your standing as a preferred advertiser.
- Use small advertisements, but run them more frequently.
- Check with publishers for any left-over advertising space. Get on their list for last-minute cancellations and let them know you’re interested. Be sure to have some standard advertising material which can be used at short notice.
Partnerships and Public Relations
- Seek out economical public relations exercises to keep your product name visible to prospects. Working with partners is a win-win scenario.
- Join forces with another business selling complementary products and promote one another to clients.
- Consider approaching potential partners that were previously unattainable. They may be more flexible during an economic downturn.
- Don’t limit yourself to your usual suppliers. Instead, shop around for production quotes, thereby increasing your likelihood of obtaining competitive pricing.
- Maintain marketing communication with clients. Fuel their loyalty by creating flexible and low-cost word-of-mouth opportunities.
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