Fight or flight instincts. The survival of the fittest. When the going gets tough, tough get going. During tough economic times, we are fighting in the trenches or there is no doubt that the survival instincts kick logged in or you have the desire to dig your heels e. threshold of fear of everyone is different. But those who have a strong focus on task to keep balanced in your hand and do not panic, usually by the storm better.
Just look at the statistics. A research study McGraw-Hill600 companies rated for five years in 1980 and the companies that were either the course or have increased the level of advertising spending in 1981 and 1982, the recession had ended sharply higher revenues after the recession. Companies that aggressively promoted during the recession, sales were more than 250% higher than those who elected not to advertise. Instinct warns us to cut, cut marketing budgets and advertising dollars and save. However, there is evidence thatmaintain or increase spending in times of economic crisis may actually help to pull through and positive impact on the opposite side.
Just like we do? How do you make the request, cut and cut the checks actually get instead?
- Recognize the situation. Of course, during a recession, your customers are evaluating their budgets and carefully and decide where to spend their money. It 'important to address that fact head-on. Confirm that your customersaware they have some tough decisions. Then we can explain the benefits of training to invest in their products and services.
- Avoid cutting prices and messaging doomsday. negative as well as price cuts send signals of fear. This is a fine line between understanding your customers' situations and the education of more afraid of the spring time.
- Strengthen your customers. Make taking ads, direct mail, blogs and newsletters that you authorize your customers, controltheir situation, and ultimately their destiny. With solutions that help them do this, create a positive environment that resonates in a very negative situation.
- Identify the value proposition. Communicate to your customers what they get for their money is just as important, and sometimes most importantly, how to ensure a low price points. Even if cash is tight, customers increasingly want to know which are the best value for their money and many are still willing to payto know something more than providing value to its products and services.
- Keep the lines of communication open. This does not stop marketing and advertising! It 'important to your brand, top-of-mind with your clients so they are not forgotten. If you cut corners and reduce start, customers will soon forget about you and look elsewhere for what they need. If the recession is over you'll be behind Sun
- King-evaluationThe marketing mix them. If your marketing plan, he wrote last summer (or at any time October 1, 2008) you should definitely go back and re-evaluate where he is assigned to your energies. It can increase your exposure on social networking when you save a few dollars in print advertising? Maybe you could eliminate a direct mail piece and replace it for another 3-4 E-Newsletter? Without a drastic reduction of the budget, it might be possible, a couple of things that create some changeSavings without reducing the exposure to your customers.
Whatever you do in the coming months, as you pull up your current business situation balance sheet, do not you take a red pen and slash through each position in the marketing budget. Okay cut advertising budgets and marketing, but do it with a scalpel, not meat cleaver. Instead, the creative possibilities all over the path and navigate through the recession to continue to succeed. If you do, it is likely that there are better times.
0 comments:
Post a Comment