Re: Are you cutting down on your spending?
Geez, I could go on and on about this one.
I agree with Robin, don't waste your time and money on any print ads. They do not work in this industry, at least they do not work for us, and I have learned the same from many other printers and businesses in our industry. We placed a phone book ad consisting of line entries in 5 categories, a business card size ad on a couple pages and listing on their website, at a decent price, to run for a year, and we have not received one hit from it in 9 months and will not renew it. Other printed ads have done absolutely nothing for us.
The best marketing is online, walk ins for local businesses, chambers of commerce gatherings, etc. Of course as always word of mouth too...
Keep online marketing up, and spend money on it!!!
This is the time that you want to increase your spending on marketing!!! Let me repeat with emphasis, THIS IS THE TIME TO INCREASE YOUR SPENDING ON MARKETING!
The first quarter of every year is the slowest, and January is rapidly approaching. Start your marketing now in preparation for that.
Also market heavily through what looks like it's an honest to goodness recession coming our way. This seems like the time that you would want to be pinching marketing pennies but it is not. Pinch in other areas, but spend spend spend on marketing. Why? You want to drive in business NOW, you want to drive it in and bring it in when fewer people may be looking for you and more people are wary about spending money. There are industries and customers out there who will weather the recession and will have money to spend through it. Find them and go after them.
In addition to that, if you can survive the recession, when it is over, your really going to boom. There are many reasons for this. You may have local or nationwide competitors who may not survive. We may see many shops close their doors. What happens to you if you've marketed your way through a recession, kept your head above water, and 5 other print shops in a 5 mile radius around you (we're in a super competitive area, and there are 3 times that number around us) have shut down? Well, during and after the recession, some or much of that business is likely to be yours.
Capitalize on this, read a lot, learn what other successful companies in any industry have done in times like these. This is obviously a time where people are worried about the economy. Stay confident in yourself and your business and market with the mind that you will be better and bigger and stronger if you weather the storm!
Best of luck to all of us!