1. Build marketing plans and justify expenditures now. Don’t wait to hear that funds are available for marketing. Proactively plan your marketing efforts for the recovery and gather evidence to justify your expected marketing expenditures. Make sure you receive executive endorsement so you’re ready to go as soon as possible.
Otherwise, you might fall behind competitors.
2. Prioritize marketing investments. You won’t be able to start everything at once, which is why it’s more important than ever to prioritize your marketing investments where they will deliver the most return. Seek integrated marketing programs that use multiple tactics to maximize your exposure and opportunities for sales leads and that ensure you are reaching your prospects and clients at every stage of the buying cycle.
3. Explore new markets. Your products and services may be a good fit for one of the faster-recovering sectors. Manufacturers that can display their products and services simultaneously across multiple markets will have the best opportunity to gain new customers. Online industrial ad networks, e-newsletter advertising and vertical search engines are effective ways to target specific customers in new markets.
4. Update marketing materials and fine-tune messaging. Make sure your marketing collateral and Web site are up-to-date with current messaging and the latest product versions. If you choose to enter new markets, you may need to revise some messaging and re-purpose existing case studies, white papers and other materials. Do it now to avoid long lead times.
5. Emphasize measurement and ROI. To get any marketing plan approved going forward, you will need to demonstrate accountability. Today, the most effective marketing programs are online programs whose performance can be measured and analyzed. Online programs are built around impressions, clicks and conversions. You can easily see what is working and focus marketing dollars on the most successful programs, which will help reduce waste while increasing results.
6. Work with new media partners. Preparing targeted, online marketing programs for the economic recovery may be new to you, and you shouldn’t have to do it alone. This is a good time to consult with an experienced online media partner that understands and has the attention of the industrial audience you need to reach. Discuss your marketing objectives and have them show you an integrated marketing program that will help you achieve your objectives and provide measurement and accountability.
Excerpted from GlobalSpec whitepaper.