citrus recession slideshow

Marketing & The R Word. The upshot of marketing during a downturn.

The Recession Like Yogi says, “It ain’t over till it’s over.” And folks, it ain’t over.

Yes, times are still tough. But what’s even tougher is figuring out what to do. Fortunate has the anly, citrus swers.

Step 1 Analyze. Prune. Build. Analyze your business. Find what’s working. Eliminate what isn’t.

R HOW ? I

If you can’t track success, you can’t avoid future failure.

Track everything. Emails. Websites. Advertising. Facebook...

If you can’t measure it, you’re going to have a tough time selling it to the CFO. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Step 2 Hug your current customers

delight them. delight them. delight them. delight them. delight them. delight them. delight them. delight them.

Delighte spend m d customer o s p a y h i g re , b u y m o re a h non-del er margins tha nd ighted c n ustome rs.

And they’ll talk to friends and convince them to do the same.

? ?? ? ? ? ? ? ? ? ? How do you delight a customer? ? ? ? ? ? ?? ? ? ? ? ?

Engage them. Empathize with and relate to them.

Look at how you’re talking with your audience.

get ting ge? they r messa Are a on e cle

RE GO M TH W EM EY H B GOER ER . E :

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.

THE POINT: The media can change. Your message can’t.

Step 3 Focus on who not to target.

67% of marketers say refining target audiences is a key strategy for surviving an economic downturn.

See where business is coming from and target it with laser-precision.

Next , separate your audience into fifths and assign a cost of acquisition to each segment. $ $ $$ $ $ $$ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ $ $

How much is that bottom 20% really adding to your business? $ $ $ $ $$ $ $ $ $ $ $

Or better yet, how much are you spending trying to reach that bottom 20%? $ $ $ $ $ $ $ $ $ $ $

Step 4 Invest in growth

Use whatever resources you have, study your markets, see where growth will come from. And invest.

Step 5 It’s the message, stupid.

Forget the medium. The moment is the message.

economy And right now, the is front and center.

WILL WORK FOR WORK. Is your message working with the economy? Or against it?

THESE DAYS TRUMPS VALUE LUXURY

You’ll need to understand what value really means to your customers. It’s more than just price.

Marketing research can tell you what your customers are thinking, feeling and saying.

Invest in it and you won’t regret it.

Remember: • Speak their language. • Live their world. • Understand them.

Step 6 Think .tnereffiD

When everyone’s busy zigging, it’s time to start zagging.

be different Just be smart about how you do it.

Apple did it with the iPad. IBM did it by switching from hardware to software. Google did it with Android. And Oscar Meyer?

Two words...

Weiner

Mobile

Being different doesn’t have to be expensive.

We did it by creating DearAgency.com, a site that lets an unhappy marketer send a Dear John letter to their agency.

The site has received 10,000 visitors since its launch, with about $500 in marketing and an aggressive blogging campaign.

And we’ve received some promising new business inquiries as a re s u l t .

Step 7 Price it Right

Pa A n sm ic ar pri t cin pr g ic w in o g n’ st t ra wo te rk gy . w ill .

$ 10 $ 10 0 Retail business? Instead of dropping prices on your high priced products, create flanking products that deliver lower price to lower value customers.

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.

Consider short-term promotions to drive traffic and interest. Coupon redemption is on the rise. Strike while the iron is hot.

Just be smart about it. Groupon Anyone?

Step 8 Go Souk

Souk: A Middle Eastern Market with lots of perishable product. Media: A perishable product.

What do they have in common? (Besides perishable products?)

negotiation. $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

So strap on your fez, because when times get tough, the tough get negotiating.

Media companies are quite willing to negotiate off the rate card.

The trick? You have to ask. And they’ll usually reward you to the tune of lower pricing or bonus spots.

Step 9 The Why Nots? of New Media.

IN 2009 your website was rocking.

Its 2011.

Is your site still rocking? Or merely rolling? (may be it’ s tim e for new whee ls)

S o how is your reputation? Track and adjust using new tools. Watc h the social media c onversation. What ar e the Tweets saying abo ut yo u?

Its time to go mobile. Over 300 million Smartphones sold and they are selling like hotcakes.

. pe titive com dable. I t ’s f f o r . ta base nt. I t ’s a n e w d a p l e m e t. It’ s a to im p ocke I t ’s e a s y e r y o n e ’s a y t o ev t w It ’s i n s a g r e a g e o n ’ A nd it other ed on. n iti get a compet your

Step 10 The Future

But know this: its social.

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.

Social media will play a vital role in marketing, branding, research…even recruitment.

Make sure your brand is playing along.

Now, and well into the future.

If only predicting the weather was this easy.

Want to know more?

Ask, and ye shall receive.

O nt & CE e side ita n, Pr e r Lev 55 tru s.co m Pet 50.42 lloci 5 he 541. levitan@ .com r. s pete ellocitru .h www

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citrus recession slideshow

by citrus on Nov 05, 2010

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citrus recession slideshow — Presentation Transcript