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How to Market your Business in a Downturn Economy - Part 3

According to Google trends during the lockdown people became more aware about social issues. This may be the outcome of times of extreme stress and uncertainty.

People had a lot of time in their hands to involve in discussions of how they can improve their life for the better and escape of the current situation.

Topics like "support a cause" became extremely popular.

This is the perfect time for a small businesses to showcase their social awareness and attract more attention to their business engaging to local social support groups.

How Community Action can strenghten your Business

Just because you don't have a corporate budget to work with when it comes to advertising doesn’t mean that you can afford not to spend resources on branding.

Moreover, if you listen to the conversation of experts and consultants, you might think that branding is close to being unnecessary as the adoption of direct marketing has been successful for those that implement it.

Indeed, this emphasis over the last 10 years on direct marketing principles has been good for small businesses. The focus on one to one communication has meant better direct mail, Internet marketing, classified ads and telemarketing.

However, the casualty of this new focus has indirectly led to a de-emphasis on branding.

Due to the Global Pandemic, branding is still necessary. It allows a company to stake out favorable territory in the mind of their potential prospects. Its goal is to keep the company at the forefront of the minds of buyers. Companies that have been most successful in their branding efforts have typically used mass communication media to accomplish this.

Of course, effective use of mass communication media for branding requires expensive television, radio and publications adverts.

The reason for this is that branding messages take hold when they are repeated in the minds of prospects. This reputation is said to take seven instances before a viewers or listeners grasp the message. Buying enough media to provide this kind of repetition is beyond the reach of most small businesses.

Therefore, what can a typical local business do to brand itself?

To be successful in a local branding effort, companies should involve actively in charitable and local social events. This will give them visibility and make the public aware that their concerns reach beyond their office or store.

The more that a small business appears at these events, the public’s awareness will bring along with it a

favorable position in the mind of potential buyers.

It's safe to say that business owners will not want to look for a measured amount of reciprocity. In fact, when choosing the venue to be active, a business owner should select an organization that can benefit most from their assistance. Giving in this way will ensure that the business and/or its owner will keep their commitment, even when there isn't much reciprocated in the way of additional revenues.

Does your business participate actively in its surrounding community? Do you sponsor events for your local school district and/ora charity?

Would you say that your business is known for its involvement in projects that benefit the city or town authorities?

When you can safely answer yes to one or even all of these questions, you can be sure that your brand is being built favorably be for those that can purchase your product.

Certainly, you may like to have your name mentioned when credit is being given for social involvement.

However, that kind of mention isn’t required for your company to benefit. What is required is a passionate commitment to the cause or organization that you are giving your time to.