Tough economic times force businesses to be better and smarter as they strive to serve a shrinking customer base.

“It will be more of a buyers’ market where sellers will actually have to do the work and be competitive,” says Chuck Mowrey, vice president business development of Carmel Architectural Sales, Anaheim, Calif. “In a hot market sellers can get sloppy … and get away with it. In a buyers’ market, you need to be as close to right as possible in this business.”

Company officials say businesses need to keep their marketing efforts strong to compete effectively in a buyers’ market. Below are tips from industry marketing managers and executives about how to maximize marketing efforts in a slow economy.

• Stay visible.
  “I believe in a slower economy, marketing efforts are as important and probably even more important. Being continually visible and staying in close contact with the industry and the media is significant to a company success. Companies must maintain a strong market presence.”—Tammy Schroeder, sales and marketing coordinator, Linetec, Wausau, Wis. 
• Learn what customers need and always work to help them.
  "It's not the dollars you spend, but how you relate to your customers that is most important. Start everyday with the thought: How can I help my customers today?"–Christine Shaffer, marketing manager, Viracon, Owatonna, Minn.
• Keep focused, in good times and bad.
  “When the economy is slow, we focus our marketing efforts in the same places as during a hot market—on key targeted project with core customers that meet the criteria we have set up to be able to perform successfully and within our operational capacity.”—Mowrey.
• Go online.
  “Online is smart for companies large or small, and allows for ongoing feedback so you can increase what's working and move on from something that isn't. Look for high exposure, high impact opportunities. Make sure your each message is clear, and don't try to say everything you have to say at once.” –Earnest Thompson, director of Guardian marketing and brand management for Guardian Industries, Auburn Hills, Mich. 
• Make sure your message is clear.
  “When the economy is slow, we focus our marketing efforts on helping our customers sell the advantages that our products add … You can have the greatest product in the world, but if you don’t get this message across to the people making the buying decisions, then you are down to competing on price, in which case you are forced to choose between losing the sale or sacrificing profit margins.”—Jim Plavecsky, regional sales manager, Edgetech IG, Cambridge, Ohio. 
• Be consistent.
  I don’t feel that marketing during slow times is any more or less important than during busy times. The most important thing a company can do, is to continue to communicate a consistent message and provide consistent service, all the time.”—Schroeder.
• Don’t act with haste.
  “We don’t fire a shotgun. That doesn’t change whether the economy is robust or slow. We always have a [return on investment] in mind on marketing expenditures.” –Thompson.
• Build your reputation.
  “Build upon your reputation, and oftentimes new business can come your way by word of mouth. There is no better advertisement than a satisfied customer.”—Plavecsky.
• Consider partnerships.
  “Co-op marketing and advertising … has worked very well for Linetec in the past. By partnering with companies whose products or services complement yours, you’re able to combine and stretch your resources. This is also helpful in generating new leads. As examples, our customers often share photos and project info with Linetec, and credit us in their marketing materials. We like to do the same for them. This collaborative approach not only leverages the marketing investment of each company’s initial cost in photos and writing, it extends both of our individual company efforts to reach a much wider range of prospects.”—Schroeder.
• For small companies, look to outside help; for large companies, look inside.
  “Smaller companies can work with outside marketing agencies, which can help them decide how to best focus a limited marketing budget to achieve the best results.”—Plavecsky.
  
  "In slower times, we often have greater opportunities to utilize more of our internal resources for projects vs. outsourcing them. That helps us cut costs, and helps build our internal staff knowledge base and skill set at the same time."—Shaffer.