By Angela Stewart
Economists can argue about whether the economy is in a slowdown, recession, treading water or bumping along the bottom before its next surge, but one thing is for certain: You’ve got to produce the same or better results this year with a smaller marketing budget.
What is a marketing manager to do in these uncertain times? The answer is to spend what dollars you have wisely by selectively targeting prospects based on a custom "segmentation" approach.
If marketing is applied to exactly the right prospect with the right message and value proposition, it is more likely to secure that customer. You increase your receptivity and customer loyalty and are interacting with that customer on a much deeper level than, "What do you want to buy?" You are asking how you can make his or her life easier or more successful.
Partner with Cache Creek Partners
Reprinted from the Letters to the Editor in the January/February 2013 issue of Home Business Magazine
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