Re-think, Revamp and Reinvigorate Your 2009 Marketing Mix

As Published In Electronic Retailer Blog:

Retailers are facing one of the toughest economies in recent history. Experts predict that the first half 2009 will be dismal in regard to consumer spending. Therefore, retailers need to work even harder to engage their existing customers in order to stay top-of-mind during what is likely to be a difficult first quarter. Now, in the wake of a challenging holiday season, businesses must re-think, revamp and reinvigorate their marketing mix in order to succeed in the coming months.

Budgets are tight, so begin by finding free or low-cost ways to engage new customers (particularly those acquired over the holiday season) and give them incentive to return again and again. Among the freshest new tactics are social networks, gadgets/widgets, and community toolbars, which can be used to distribute coupons, release “how-to” videos, announce sales, deploy online surveys and more.

The key to success with this “Web 2.0 marketing” is to increase the amount of interaction you have with your customers and they with each other. For example, one retailer, Incredible Technologies (makers of the Golden Tee golf game), is using a branded community toolbar to activate community building by sharing specials and promotions that they think will appeal to their customer’s interests. They also showcase their customer forum, user international tournament stats, and their Golden Tee YouTube channel where users can post video of their best golf shots. Golden Tee did all of this for no cost.

Not a techie? Don’t worry about it. All this stuff is really easy to use. Give it try? What have you got to lose but customers?

About The Guest Author: Adam Boyden, president of Conduit, is responsible for the strategic direction, marketing, business development, and U.S. operations for the company. Boyden is an expert in online and Web 2.0 marketing and a well-published author.