Startup BizCast #32 – Marketing During a Recession (Shama Hyder)
- 23
- Jan
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Most experts agree the United States is in an economic downturn, mostly as the result of the subprime lending fiasco. Whether you think we’re about to go into a recession, are already in a recession, or will never reach recession status, it’s safe to say that small businesses will have to change their tactics. My guest this week has some advice. Shama Hyder, co-founder of After the Launch, a marketing firm in Dallas, TX, has five tips for marketing your business in a recession.
In the BizCast Brief: Sleepworking, blogs and journalists, and BusinessWeek bashes technology.
Links mentioned in this week’s episode:
After the Launch (www.afterthelaunch.com)
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I read the “After the Launch” site’s tips and they were helpful. I especially like the networking and cross-promotion idea. I guess the only question is how and where to find someone to cross-promote with. That seems a little more difficult…but certainly possible for anyone in any kind of business!
That’s always a tough question. I won’t put myself out there as an expert on this one, and it’s difficult to speculate if I don’t know what type of business you have, but I would say just think about what kinds of companies are complementary, but not competitive, to your own. Then, look at the companies in your immediate area and see if there are any logical matches. Two examples off the top of my head…
-A local motel putting restaurant coupons in its rooms in exchange for advertising space on the restaurant’s placemats or menus.
-A plumber offering a discount on installation for items purchased at a hardware store, in exchange for the hardware store recommending the plumber to its customers.
Obviously unless you know a cross-promotional partner already, making contact will involve a cold call. But, most small business owners have learned not to be worried about that.