Downturn - Is this a marketing opportunity for SMBs?

Every large organization that I have been speaking to in the past couple of months have gone into hibernation mode. No new marketing campaigns, no trade shows participation, no CRM activities - makes you think it is the end is perhaps near!

I have a different point of view on this. I actually think this is an opportunity for Small and Medium Businesses (SMBs) to do some serious investments in marketing and I will tell you why:

1. There is less noise out there now: With the big boys staying out of the game at least for a few months now, this would be a great time for SMBs to grab some valuable mid share with their customers. It is the time to go there with your messaging and be heard, be it on new media channels or traditional trade shows and events.

2. It is a good time to engage your customer: With not many of your larger peers vying for your customer's time, it is perhaps a good time to engage with your customer and build some great relationships. It is perhaps a good time to invite your customers to participate in industry surveys you can commission, set up thought leadership forums or invite them to speak at your events.

3. It is less expensive to run marketing programs now: With large companies cutting down on spends, there is lot of marketing inventory that is lying open. Be it web ads, booths at trade shows or running a targeted customer event in a city hotel, this is a good time to get some great deals and stretch your marketing dollars.

4. It is the best time to work the ecosystem: Let's assume you are selling a product for bankers, then your ecosystem typically involves banking associations, industry research firms and analysts, trade journals, media and journalists that cover this space, trade shows and events related to the banking domain, thought leaders in banking, universities and professors who research and contribute to this space, etc. The ecosystem usually plays a critical role of influence in this industry and lean times are usually a good to reach out and engage with this ecosystem and its key constituents.

In marketing, as is in business, it is critical to capitalize on opportunities that come your way and the downturn is one such opportunity where a bit of lateral thinking can give your brand distinct long term advantages.