SBTDC Mission

The SBTDC is a business advisory service of The University of North Carolina System

operated in partnership with the U.S. Small Business Administration.

Beth Wilkerson UNC Pembroke910-775-4000

sbtdc.org | [email protected]

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SBTDC Mission

• Support the growth and development of North Carolina’s economy by:– encouraging entrepreneurship– assisting in the creation and expansion of small to medium-sized

enterprises– facilitating technology development and commercialization– supporting economic development organizations

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Marketing in Tough Times

“Now is the time to spend MORE attention on Marketing than ever before”

Jeff Debellis

Director of Marketing & Research Services

Small Business & Technology Development Center (SBTDC)

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Marketing in its Entirety

Companies need to analyze their performance in each area of marketing:

• Promotion

• Products

• Pricing

• Distribution channels/location (including the web),

• Customer service.

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Marketing in its Entirety

• What is the ROI for promotions?

• Which products produce the best margins?

• How competitive is your pricing?

• What is your website doing for your business?

• Customer Service?

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Marketing in Tough Times

Do you have a Marketing Plan?– Be Strategic, Not Impulsive– Long & short term goals– How is your company different from the competition?– Who is your target market?– How are your reaching them?– Is it effective?– Opportunities/Obstacles?

(See Marketing Plan Worksheet)

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Marketing in Tough Times

Reassessing your current marketing strategy

1.       Keep in touch with current & past customers

2.       Re-examine unique selling abilities for customers

3.       Ask for referrals

4.       Repackage services to accommodate smaller clients and cut budgets

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Marketing in Tough Times

Reassessing your current marketing strategy cont’d

5.       Re-evaluate pricing strategies/are you making a profit or attracting clients that will spend on other items

6.       Look for inexpensive ways to reach customers

7.       Watch the new trends/see how they work for you (social networking)

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Customer Purchasing Excuses

Before Recession – Consumers were looking for excuses to buy

“Be in-fashion”

“Upgrade everything”

“Save time”

“Discount credit”

“On Sale!”

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Customer Purchasing Excuses

Now – Consumers are looking for excuses NOT to buy

“Do I need that now?”

“I can wait until it’s cheaper”

“The store’s too inconvenient”

“It’s not worth the hassle”

“There’s something I don’t like about that product/service/store”

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Marketing in Tough Times

Is it easy for customers to do business with you?

• Can They find you?• Do they know what your products or services are?• How is your customer service?• What is important for customers to know about you?

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Image/Message

Clear & Consistent– Physical appearance of your office/store/website/sales people– Products– Customer Service– Promotions and advertising– Prices  

•     

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Bottom Line

• A Marketing Plan is Essential

• Know Your Customers

• Know Your Competition

• Know Your Market

• Know Your Companies Strengths & Weaknesses

• Use Your Resources

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Marketing in Tough Times

Use Available Resources:

• http://www.sbtdc.org/services/mrs.asp

• http://www.sba.gov/marketingoutreach/index.html

• http://www.marketingsource.com

• http://www.blnc.gov/sales_marketing.asp

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Questions/Discussion

The SBTDC is a business advisory service of The University of North Carolina System

operated in partnership with the U.S. Small Business Administration.

sbtdc.org | [email protected]