Times are tough, but there are ways to mitigate the impact on your business. As you read this, I’m sure you are currently considering — or already have considered — the various ways that an economic downturn could affect your business, and what marketing strategies can keep you competitive.

No matter how difficult it may seem to invest time and energy into marketing, consider these 6 marketing strategies that are high-impact and high-ROI - even in the worst of times.

#1 Ramp Up Email Marketing

Why? Because email marketing is cost-effective, takes little time, and delivers content directly to prospects and current customers. If you haven’t already, get started building a list of both of these groups and begin creating targeted email campaigns for not only these broader groups (of customers and prospects) but smaller demographic groups within each. By addressing each unique group’s needs, you have a higher likelihood of increased sales.

And don’t skip on the automation; that’s how you’ll save time in the long run. Once you’ve separated prospects and customers in groups based on past purchases or perceived needs, automate and personalize emails for these readers. The more relevant the content, the higher the engagement. Also, don’t forget a call to action that urges your readers to take a step closer to purchasing from you.

Don’t forget: every good email campaign includes a plan for following up. Don’t give up when your readers don’t take the bait immediately. Create a plan for reaching out again, and create some sort of urgency so that they are more likely to engage this time around.

#2 Leverage Current Customers

Of course, it’s much easier to keep a customer than to find a new one. That’s why it’s so critical in a bad economy to take good care of your current customers. And, while you’re at it, you can make them “loyal customer” offers that help you make more sales while also meeting their needs at a discounted price.

Specifically, incentivize repeat purchases in upsells. You’ll engender loyalty, and you’ll find another way to bring in more money. And, hey, if you’re impressive enough, you may even get some referrals out of it. After all, people LOVE to share a good experience with their friends and family.

#3 Analyze Past Success and Failure

You can’t get a good read on where to cut and where to spend if you’re not sure what’s worked in the past. So, when the economy begins to dip, it’s time to spend some time analyzing what’s worked and what hasn’t in the past several months. Are your email campaigns bringing in new customers? Are some of your ads leading to conversions and some leading nowhere? Are people engaging with your blog content?

When you know the answers to the questions above, you can dedicate more time, energy, and money to strategies that work and cut the budget on those that don’t.