Whether the US economy is actually in a recession or not, no one can argue that we're facing some tough times, and as marketers we should all be concerned about consumer spending. And when there are worries about spending, advertising budgets typically shrink. Sure, overall ad spending may show some strength with the 2008 Olympics and that other event...what is it...oh yeah, the election.
But if you are faced with this shrinking budget dilemma, it's time for you to consider using social media to get a great bang for the buck. Here's a couple things you should consider:
- Start blogging! If you have been waiting for a good reason to start, here it is! It's cheap!
- Participate on other targeted, popular blogs in your industry. Become known as a credible source or even an expert!
- Set up a Facebook page or start a Facebook group for your business
- And if you are feeling particlularly energetic, shoot a video for your business and put it on YouTube
Now, I am not recommending that social media marketing is the panacea for all your marketing challenges. There are no silver bullets (dang it!). You have to contact and communicate with your target customers throughout the purchase cycle.
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