Marketing your business effectively and efficiently is now more important than ever in the current economic crisis.That is according to Erin Smith, senior account manager at Advantage Ltd, who has been instrumental in shaping the company’s new partnership strategy with its clients.Ms Smith, who has a background in marketing strategy and research, having worked for emedia Bermuda, reckons that many firms were turning to social networking media such as Facebook and Twitter due to their cost effectiveness and wide reach.Marketing is often the first part of a business to be cut during a recession, but Ms Smith said it is crucial for companies to look at the bigger picture in terms of value for money.“Marketing is now more important than before because of the economy and trying to get better value,” she said.Seeing a shift towards businesses promoting their products and services rather than the company itself, Ms Smith has also noticed a trend of people looking for more measurable results, particularly online through the number of hits on their website to the reasons behind the traffic driven there.Meanwhile she views a proliferation in new products and products of which consumers were not previously aware and new opportunities in the market as the way forward for many companies.Getting staff involved in selling their brands has been another consideration for businesses which has proved to be a win-win situation all round.“One really great way to do marketing in a cost effective way is to get your staff involved in marketing the product or service you want to sell,” she said.“It boosts morale at a time when not many people are getting bonuses or pay rises and saves the company money.“Overall I think people just need to be smarter in how they are spending their money and getting results for what they are paying for.”Ms Smith said that it was common that companies’ first instinct was to pull-back on their marketing budget and staff due to being regarded as an “optional” expense, however it was vital for them to maintain that key driver of business in order to be top of mind in the recovery and stay one step ahead of the competition.She said that businesses were also seeking to improve their results without spending as much money so were having to become more innovative and creative.Noticing a move to either bring their marketing operations in house or outsource to save costs, Ms Smith said that Advantage has been doing a lot of business for both offering the full package or focusing on specific areas depending on their clients’ needs.“Marketing might seem like a luxury but I don’t think it is a luxury to get people to buy what you sell and marketing in general, advertising, public relations and market research goes a long way to making that happen,” she said.“But the bottom line is that in the long run if you let go of your marketing function then it may have a really serious consequence - gone are the days that Bermudian companies can rely on their reputation and word of mouth because competition is getting a lot tougher.”To keep pace with the ever changing times, Advantage has launched a suite of new services including proof reading, copywriting and accounting, from producing annual reports to financial statements.The company, which has been in business for 18 years and currently operates with a staff of seven, including creative and art directors, a graphic designer, two account managers and a dedicated finance person, has stepped up its marketing campaign through getting to know their clients’ business inside out.For more information contact Erin Smith at Advantage Ltd. on 295-6900 or e-mail erin[AT]advantage.bm