When the economy goes south, every business feels the strain. Fewer people spending money means that everyone ultimately has less funds, and no matter how basic the good your company supplies, you will want to consider ways to trim your budget. Many companies look to their marketing funds first, viewing ads as unnecessary compared to many other areas of spending. Although marketing can usually spare some money, making unwise cuts, like getting rid of your trade show displays, will lead to a dramatic decrease in revenue. If you have to cut your budget, you need to know what to do instead.Technique #1: Online MarketingIn the eyes of many analysts, online marketing is the key to trimming down any marketing budget. It will have a particularly dramatic impact if your business has long relied on advertising through conventional channels like television or radio. Even without considering budget, internet marketing tends to yield better results when compared to television. Even companies without financial constraints are turning from TV toward the internet.Better yet, many internet marketing tools are available free of charge, and those that do require a fee typically charge much less than their TV counterpart. If your business is very desperate to cut down on funds, a well-managed internet campaign using only Facebook, Twitter, and a free blog can keep you afloat during hard times. If your company is starting up, using that same combination can be a good idea at the very beginning when you have no marketing budget at all.Technique #2: Nearby ConventionsConventions are widely considered rewarding but expensive propositions. Your company might be able to do without conventions for some time, but the personal relationships you build with clients who attend are even more crucial when those clients have less funds. Instead of foregoing hosting trade show displays at conventions altogether, focus instead on events closer to home. Don’t go anywhere further than an easy drive. Don’t pay for airfare, and don’t pay for hotels. The cost of gas combined with the costs of the event will be more than repaid by the customers you’ll get, even in this economy. If you have highly portable displays, this is an even more cost-effective option because you can simply pack them up in the car rather than shipping them. If you only have large booths, consider replacing them with more portable displays. If this will be your first time exhibiting at a nearby convention, you may need to purchase new trade show displays for maximum effect. You’ll want to be quite upfront with your design company about your budget, and ensure that they understand it before any options are discussed. The company should be able to find something that will work well for you, even if you’re on a very tight budget. Portable displays and modular exhibits are a great choice, because they can be prefabricated and are therefore inexpensive, but also offer flexibility.Technique #3: Keep A Positive OutlookNo matter how grim your outlook might seem, never let yourself lose sight of how strong your company really is. The more you remain positive, the more other employees will be positive, and the more you’ll help improve overall company morale. Your company might be tight on funds now, but everyone is. In time, the economic problems will be resolved, and everyone will enjoy big budgets and all the perks of expansion. In the meantime, trim your budget where you can, spend wisely, and know that better days are ahead. Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Chris Harmen writes for Skyline, a leading producer of trade show displays in Dallas. Skyline provides Forth Worth trade show displays to fit every budget and always delivers a great product on time.