Survive and Thrive in a Tough Economy

.. From Biz2Biz NWA February 2009

By Randy Mullkin / The Mullkin Agency / Springdale


There are many things you can do from an advertising perspective to keep your name “out there” and create new potential customers even in a tough economy—without spending large sums of money. This is not an end all list; a guarantee that if you do these things you will make a million dollars. These are ideas to get your creative juices flowing, in your own mind and in your own business.

Get noticed: Do things that get you noticed; a sign, a name badge, or a business card is a wonderful investment. Better yet, write a simple newsworthy press release and send it out with a photo for some free publicity for you and your business. Try to establish yourself as an expert in your profession or industry, so the media will contact you.

Network: Attend events, when invited, and talk up your company. Wear your name badge, take your business cards, and be ready to tell someone what you do in 30 seconds, or less. Always end with a ques¬tion such as, “Is this something that would interest you?”

Start a list: Pick ten people from businesses that you would like to have as customers. Start a relationship with each and put your energy into it. This really works! During 15 years in business, this process has rewarded me with many new clients.

Guerrilla Marketing: A guerrilla marketer sells to individuals one person at a time. His or her marketing efforts are personal, usually handmade and of high impact. Create 500 rack cards and print them in-house–or buy 500 pens or magnets with your name, phone number, and website imprinted–leave them behind to remind people to call when they are ready to buy.

Hire an Expert: If all else fails, you may need to hire an expert. An advertising expert will help you target only your potential market, keeping you from wasting your money advertising to the wrong people. Most businesses don’t need a shotgun, but rather a rifle, approach directed specifically to those people who need your product or service.

Not all of these ideas will work for you, but some will. By implementing a couple you may actually save some of the money you are spending now. Sometimes very little money can reap a big return!

Author/ expoert Randy Mullikin, owner of The Mullikin Agency, has spent more than 25 years creating some of the most memorable campaigns in this region. 2009 marks the 15-year celebration of Mullikin’s full service advertising, marketing, and public relations agency. randy@mullikinad.com.