citrus recession slideshow

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Marketing and the R Word: This is citrus' in-depth take on how to market during the downturn. We think that most, if not all, of these strategies will work wonders as we swing back up.

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citrus recession slideshow

  1. 1. Marketing &The R Word. The upshot of marketing during a downturn.
  2. 2. The Recession Like Yogi says, “It ain’t over till it’s over.” And folks, it ain’t over.
  3. 3. Yes, times are still tough. But what’s even tougher is figuring out what to do. Fortunately, citrushas the answers.
  4. 4. Step 1 Analyze. Prune. Build. Analyze your business. Find what’s working. Eliminate what isn’t.
  5. 5. HOW R I ?
  6. 6. If you can’t track success, you can’t avoid future failure.
  7. 7. Track everything. Emails. Websites. Advertising. Facebook...
  8. 8. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% If you can’t measure it, you’re going to have a tough time selling it to the CFO.
  9. 9. Step 2 Hug your current customers
  10. 10. delight them. delight them. delight them. delight them. delight them. delight them. delight them. delight them.
  11. 11. Delighted customers spend more, buy more and pay higher margins than non-delighted customers.
  12. 12. And they’ll talk to friends and convince them to do the same.
  13. 13. How do you delight a customer? ? ? ? ?? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
  14. 14. Engage them. Empathize with and relate to them.
  15. 15. Look at how you’re talking with your audience.
  16. 16. oneclearmessage? Aretheygetting
  17. 17. REM EM BER: GO W HERE THEY GO.
  18. 18. It’s a new world. It’s not just TV, radio and email. It’s mobile, Facebook and FourSquare and magnetic Starbucks cups attached to cars.
  19. 19. THE POINT: The media can change. Your message can’t.
  20. 20. Step 3 Focus on who not to target.
  21. 21. 67% of marketers say refining target audiences is a key strategy for surviving an economic downturn.
  22. 22. See where business is coming from and target it with laser-precision.
  23. 23. $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Next, separate your audience into fifths and assign a cost of acquisition to each segment.
  24. 24. $ $ $ $ $$ $ $ $ $ $ $ How much is that bottom 20% really adding to your business?
  25. 25. $ $ $$$ $ $ $ $$ $ Or better yet, how much are you spending trying to reach that bottom 20%?
  26. 26. Step 4 Invest in growth
  27. 27. Use whatever resources you have, study your markets,see where growth will come from. And invest.
  28. 28. Step 5 It’s the message,stupid.
  29. 29. Forget the medium. The moment is the message.
  30. 30. And right now, the economyis front and center.
  31. 31. Is your message working with the economy? Or against it? WILL WORK FOR WORK.
  32. 32. THESE DAYS TRUMPS VALUE LUXURY
  33. 33. You’ll need to understand what value really means to your customers. It’s more than just price.
  34. 34. Marketing research can tell you what your customers are thinking, feeling and saying.
  35. 35. Invest in it and you won’t regret it.
  36. 36. Remember: • Speak their language. • Live their world. • Understand them.
  37. 37. Step 6 Think Different.
  38. 38. When everyone’s busy zigging, it’s time to start zagging.
  39. 39. be different Just be smart about how you do it.
  40. 40. Apple did it with the iPad. IBM did it by switching from hardware to software. Google did it with Android. And Oscar Meyer?
  41. 41. Two words...
  42. 42. Weiner
  43. 43. Mobile
  44. 44. Being different doesn’t have to be expensive.
  45. 45. We did it by creating DearAgency.com, a site that lets an unhappy marketer send a Dear John letter to their agency.
  46. 46. The site has received 10,000 visitors since its launch, with about $500 in marketing and an aggressive blogging campaign.
  47. 47. And we’ve received some promising new business inquiries as a result.
  48. 48. Step 7 Price it Right
  49. 49. Panic pricing w on’t w ork. A sm art pricing strategy w ill.
  50. 50. Retail business?Instead of dropping prices on your high priced products, create flanking products that deliver lower price to lower value customers. $ 100 $ 10
  51. 51. Service business?Evaluate your customers and focus on those with better cash flow. And don’t forget to be flexible with your margins. A smaller margin today could create larger margins tomorrow.
  52. 52. Consider short-term promotions to drive traffic and interest. Coupon redemption is on the rise. Strike while the iron is hot.
  53. 53. Just be smart about it. Groupon Anyone?
  54. 54. Step 8 Go Souk
  55. 55. A Middle Eastern Market with lots of perishable product. A perishable product. Souk: Media:
  56. 56. What do they have in common? (Besides perishable products?)
  57. 57. $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ negotiation.
  58. 58. So strap on your fez, because when times get tough, the tough get negotiating.
  59. 59. Media companies are quite willing to negotiate off the rate card.
  60. 60. The trick? You have to ask. And they’ll usually reward you to the tune of lower pricing or bonus spots.
  61. 61. Step 9 The Why Nots? ofNewMedia.
  62. 62. IN2009 your website was rocking.
  63. 63. Its 2011.
  64. 64. Is your site still rocking? Or merely rolling? (maybe it’s time for new wheels)
  65. 65. So how is your reputation? Track and adjust using new tools. Watch the social media conversation. What are the Tweets saying about you?
  66. 66. Its time to go mobile. Over 300 million Smartphones sold and they are selling like hotcakes.
  67. 67. It’s competitive. It’s affordable. It’s a new database. It’s easy to implement. It’s in everyone’s pocket. And it’s a great way to get another edge on your competition.
  68. 68. Step 10 The Future
  69. 69. But know this:its social.
  70. 70. Embrace social media. That means Facebook, YouTube, Blogs and Twitter should be on page one of your marketing plan if you wish to connect with your audience in a big way.
  71. 71. Social media will play a vital role in marketing, branding, research…even recruitment.
  72. 72. Make sure your brand is playing along.
  73. 73. Now, and well into the future.
  74. 74. If only predicting the weather was this easy.
  75. 75. Want to know more?
  76. 76. Ask, and ye shall receive.
  77. 77. Peter Levitan, President & CEO 541.550.4255 peter.levitan@hellocitrus.com www.hellocitrus.com

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