We know the hardships people and businesses are facing due to the ongoing global economic downturn, but there are few who have found a way to turn it into an advantage. Though not entirely by design, we (LucidSense) are one of them. Here’s how we did it (and how you can too) :

We have been demonstrating the benefits of using online media as an cost effective, targeted and measurable alternative to conventional customer acquisition or lead generation mechanisms such as print, television, radio, outdoor advertising and events etc.  In spite of its obvious benefits we faced considerable initial resistance from customers to commit significant portion of marketing budgets.

Enter the recession:  and the heat was on to only spend on surefire strategies, gone were the days when you could throw a wide net and hope some fish would wander in anyways. Measure-ability and accountability are the new marketing buzzwords (we believe they were always the buzzwords of truly successful organizations). We call this shift “replacing the machine gun with a sniper rifle” , You are just as effective but using far fewer bullets (marketing $) and lesser smoke and noise.

So how can you benefit? its the perfect time to design and implement a robust web strategy and online marketing campaign. Not only will you benefit from a significantly reduced cost per acquisition but also reach newer markets and audiences that were previously outside your circle of influence (remember its a global marketplace, with global opportunities, even if you are a local business)

This is also true of companies who have given the online media a little try and declared it ineffective for “their particular situation”. We have time and again proven to customers that while its a great new marketing channel, its not magic, and cannot be achieved by a bunch of IT guys spending a few days on SEO and some AdWords.

See our Online Marketing Practice for more information on this.