Blog

Marketing Your Business In Today’s Economy

Internet Marketing

When the economy is bad it is a natural tendency for many businesses to slash their spending.  Yet, at the same time marketing may be needed during this time more than ever.  The key is to perform smart marketing tactics that are affordable yet meet the intended marketing results.

One of the biggest advantages that many of the businesses have today is the internet.   Marketing using this type of venue is far cheaper than past traditional methods.   This also takes some planning and research.

Mobile marketing is one of the key factors that should be considered.   It is being indicated that consumers now use their mobiles far more than they use their laptops or other PCs.   For the business that wants to reach out to their target market then they need to know that they are implementing all of the marketing strategies that are geared towards the mobiles.

Companies must discern where their target market is located and this is highly important for those companies that do on land business as well as online.  This is highly important when a company is offering promotions and may be marketing through email campaigns.

One of the advantages that past businesses had when they were doing hard copy marketing was giving away samples.   This is not something that is done as much anymore, yet it could be a viable option for drumming up new business.   This is where the social media sites could help to define the best market to target with samples.   It is easy to determine the demographics of a potential market with the social sites.

It is a good step forward to encourage interaction on the social media sites to encourage branding.   This can be done through encouraging employees to post about the company, as well as getting established customers to talk about the brand online.   This is where customer reviews can play an important role.

Time management and marketing must go hand in hand.   It takes more work to market online than it used to take with traditional marketing. Traditional marketing used to just mean sending hard copy out for print.   Online marketing demands more involvement usually at management level or hiring professional marketers.   For those companies trying to reduce their expenses they will usually attempt to keep their marketing efforts in house.   Fortunately there is a lot of software that can help them to market their campaigns, but this comes with a learning curve which demands time.

If you Company is in need of a marketing boost talk with your accountant to determine what would be a safe marketing budget to allot for this type of business move.   This expert knows the finances of your company and should be able to advice you as to what kind of expenditure you can allot for this.

 

Share Your Thoughts!

Contact

Sam Seidman, CPA, CA, LPA
629 Sheppard Avenue West
Toronto, Ontario
M3H 2S3

Telephone: (416) 398-1700
Fax: (416) 398-6226

Chartered Professional Accountant, Chartered Accountant, Licensed Public Accountant

Email: sam@torontoaccountant.ca

Contact Sam today

The information provided here and throughout the site of TorontoAccountant.CA is intended for general tax information only, and should not be misconstrued as a legal source of information regarding your tax situation, or be used for any other purposes other than for general information.
Sam Seidman, Chartered Accountant - Copyright ©2013. All Rights Reserved.