No doubt about it, for the past 12 months or so everyone has been looking for ways to cut expenses, improve efficiency, eliminate waste and survive the recession. Unfortunately one of the big cutbacks has been in; effective marketing.

This may shock you, but I am not against cutbacks in marketing; surprised to hear a marketing person say that?  Well, let’s be precise, cut out ineffective marketing but increase your budget where marketing can ring the cash register.

Too often companies spend marketing dollars because it looks or feels good. Maybe it just keeps your name out there, and that isn’t necessarily bad. But in today’s economy every dollar must count. So you should be looking for a return on those marketing dollars. And if you have competitors who are doing any business at all, the opportunity to make those marketing dollars count exists. The business is there to be had; the trick, of course, is taking business away from those competitors.

So, how do you convince your customers and prospects that whatever business they have should be given to you? Answer – Give them a better reason to buy; market your company in a way that says: “You get more for your money here.”

However, if you are in a mature business most likely your price, product, service equation is very similar to the competition. That means you have to search hard for that unique advantage you hold over your competitors and market the heck out of it. If you determine, when all is said and done, you really don’t have a distinct advantage over the competition; create one.

Now this is where the marketing becomes fun; create an advantage. Everyone wants more for their dollar today including your customers and prospects. So, create a loyalty reward program, or travel program, or offer some incentive that will set you apart and increase the value of what they receive for their dollars spent.

I know: “Who can add incentives in this economy, they cost money don’t they?” Well, no they don’t cost money if structured correctly. In fact, one of the great benefits of a properly structured incentive program is it will cost almost nothing until it’s time to pay off; time to reward your customer for the business he gave you. So you can create a better reason to buy, do it for a very small investment, and you don’t have to fund the reward until you’ve collected the business you are after and received payment for that business.

Keep in mind suppliers of incentives are hungry today too, and they are willing to bargain. Now might be the best time ever to start an incentive because it is a buyer’s market, you most likely need to create a better reason to buy anyhow, and now you can buy-in for a better price.

John Rich