Stretch Your Marketing Dollars

4 low-cost ways to boost an integrated marketing communication strategy

October 16, 2008
Edited by: Ken Beaulieu in: Integrated Marketing Communication

The current economic climate has led to some tough times for growing businesses looking to stretch their marketing dollars. That makes a cost-effective integrated marketing communications strategy — one that encompasses a variety of media for different consumer groups — essential. Here are four strategies to keep your business moving forward without busting coffers that may already be overtaxed:

Pick up the phone. Identify your top 20 sources of business, referrals, and prospects, and don’t let 30 days go by without telephoning them, says Jay Lipe, president of EmergeMarketing.com in Minneapolis. That’s how Goldenwood Cabinetry of Becker, Minn., decided to follow up on trade show inquiries: “They got a much higher rate of first meetings than when they responded by email or written letters,” Lipe notes.

Leverage word of mouth. Who better to win over best prospects than a trusted friend? Incorporate word-of-mouth tactics whenever possible: “Use a tell-a-friend program in everything you do,” recommends James Feldman, founder of Chicago-based James Feldman Associates. “It’s the most trusted message there is.”

Investigate pay-per-click advertising. This popular Internet advertising technique is both focused (ads can be placed on pages related to your product) and cost-effective (you pay only if someone clicks through to your site). Enjoy Life Foods, a gluten- and allergen-free food company in Schiller Park, Ill., saw traffic to its Web site jump 80 percent after placing a pay-per-click ad.

Offer a guarantee. With money tight, consumers are pickier than ever. Make certain your integrated marketing message incorporates a promise or guarantee. “Whether it’s 100 percent satisfaction or guaranteed delivery, feature it prominently,” Lipe says. “It’s telling the buyer that they don’t have to take on risk.”

For more tips on integrated marketing, download the October issue of FuelNet Monthly, an 8-page newsletter designed to help owners and managers of companies of every size maximize their marketing opportunities and grow their business. Other issue highlights include: