September was definitely a crazy month with legendary financial institutions gone in a poof and the media acting like Chicken Little.

Yes, times are a little tough but you CANNOT stop marketing and try to “wait it out”–or you may not be around when the good times roll again because people can’t buy what they don’t know about. Instead, you need to home in on all the opportunities for small businesses during this market.

Large and medium companies that layoff employees still need to get the work done–and usually end up outsourcing more. Competitors who take the ostrich approach are just making it easier for your marketing to stand out with your prospects. Seminars, conferences, and even ad space is not filling as fast as it used to–which means discounted opportunities abound.

Savvy business owners don’t cut their marketing in tough times they simply get smarter about it. They get tough on eliminating the “branding” type of marketing so they can focus on marketing designed to prompt a response. And that means taking a hard look at the who, the what and the how so they can maximize their budget and get the best response.

WHO: If you haven’t done so before, now is the perfect time to think about refining your target audience. Set aside some time to think about…

• What kind of customers will need your service regardless ofthe economy? People who have to relocate still need a realtor. Magazines still need printers.
• Who will need your service even more now because of the economy? Dog owners who weren’t laid off at a company will certainly be working longer hours–and may now need for a dog walker. Owners whose cars are 3-5 years old are going to be much more likely to put money into fixing their car right now that buying a new one.
• What types of customers won’t be impacted by the economy? The affluent, is a really big one. Most are not feeling the pain unless they’re looking at their stock statement. Is there an opportunity to upscale your product or service?

WHAT: Revisit what you’re offering to the prospect to make it even more appealing and easier to buy.

• Make them an irresistible offer. Enhance value by temporarily cutting the price, adding items to increase the perceived value while keeping the price the same, or bundling several products and services together for a slightly reduced price.
• Promote only one offer per marketing piece.Trying to do too much at one time makes it harder for prospects to buy–they’ll usually set it aside “later” to make a decision as to which product or service is the best fit for them. Focusing on just one will greatly increase response.
• Make it risk-free.Customers are always worried about what will happen if they don’t like it. Offer a guarantee and you eliminate that risk for them. And research shows FAR more people will respond to your offer than the few who may indeed ask for a refund.

HOW: Stick with clean, simple design and good copy. And remember, you aren’t going to sell a $350 coaching program with one paragraph of copy. The amount of copy should be proportionate to the price you’re asking them to pay–and cover all the points below.

• Capture their attention with a strong, benefit-driven headline
• Identify the prospect’s problem or need and reveal the solution and its benefits–using conversational writing that speaks their language, as well as emotion and logic-based arguments
• Create the desire by presenting your offer–while demonstrating its value, overcoming objections, and establishing your credibility
• Tell them what action to take and exactly how to do so, with several ways to contact you

In short, if you need a steady stream of new customers, then you need to keep marketing regardless of what the economy or stock market is doing. Just think of it as the perfect opportunity to take a hard look at what you’ve been doing and how you can make it even more cost-effective and successful.

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