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Anvil marketing your marketing recession proof 0319

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Anvil Media, digital marketing agency specializing in PPC, SEO. This webinar outlines effective techniques for marketers interested in maintaining, if not increasing, budgets during a recession and improving performance during a downturn.

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Anvil marketing your marketing recession proof 0319

  1. 1. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Make Your Marketing Recession Proof March 14th, 2019 Anvil Media Mike Terry Vice President @AnvilMedia @PDXAdman
  2. 2. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. About Me 2 —22+ years of Marketing & Advertising Experience —Survived the post-9/11 recession and the Great Recession. —Worked with over 200+ brands
  3. 3. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Agenda —Identify a recession —Take Action —7 Steps to Recession Proofing your marketing —One more thing… —Q&A 3
  4. 4. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 4 Do recessions just happen? 4
  5. 5. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 5 No. We see them coming 5 Know the signs — Stock Market — Unemployment — Housing Market
  6. 6. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 6 Stock Market 3.12.19 6
  7. 7. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 7 Unemployment Trend March 2019 7
  8. 8. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 8 2019 Housing Market Outlook 8 — High rental costs impact savings so people can’t save to buy a home — Housing prices to high for buyers — All hope is in the millennials
  9. 9. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 9 Other Factors 9
  10. 10. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 10 Take Action 10
  11. 11. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 7 Steps to Recession Proof Marketing 11 11
  12. 12. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 1. Be Prepared 12 12 1. Economic indicators are slowing down now, start preparing. 2. Evaluate your marketing channels – optimize your best performers, sunset underachievers. 3. How will you defend keeping headcount? How will you support keeping your marketing budget when the first mandate coming your way is to cut spending?
  13. 13. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 2. Fight for Your Marketing Budget 13 13 1. Brands that increase advertising spending during a recession, when competitors cut back, can improve market share. 2. Your customers need reassurance that your brand is still around and a viable option. Don’t go dark. 3. Be careful what you cut. If you planned ahead you know which marketing channels are working and which are not. This will allow you to make cuts but on your terms, not the CFOs.
  14. 14. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 3. Align Sales & Marketing 14 14 1. Work together, not in silos. 2. Combine sales and marketing efforts to create a single revenue pipeline. 3. Separation and infighting create vulnerability to layoffs and additional budget cuts.
  15. 15. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 4. Get Creative 15 15 1. Look at which marketing efforts are performing and see if there are similar but different tactics that will improve sales and revenue with minimal effort. 2. Evaluate digital campaign landing pages, are they hitting best practice standards? Every part of the funnel needs to be performing. Review, revise, relaunch. 3. Have you been contemplating a new product or service bundle that will deliver value to your customers? Now may be the time to launch it to a price sensitive market.
  16. 16. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Success during the Great Recession 16 16
  17. 17. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 17 17 In 2009, the peak of the last recession, Netflix gained 3 million members. This was due to their new tv/movie streaming plan, which allowed subscribers to stream an unlimited amount of entertainment a month, along with their disc-delivery service. By adding a variety of price plans and different services, Netflix became notable for what they did, their customer service, and eventually brand recognition. As of today, Netflix continue to grows with over 117 million subscribers.
  18. 18. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 18 18 It's not easy to admit your product stinks on national TV, but Domino's Pizza did just that. Sparked by a consumer survey (with video clips on TV), the pizza overhauled its recipe, proving change is good for business. Under the new campaign and new recipe, profit more than doubled in the fourth quarter of 2009, increasing sales for that quarter by $23.6 million. The secret to Domino's turnaround was novelty: changing the self-proclaimed cardboard crust and ketchup sauce to a new, improved pizza brought people in the door. The pizza giant turned this remake into a financial success.
  19. 19. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 19 19 The Great Recession was a tough time for toy companies - except for Lego. During 2009, when most companies were holding tight to ride out the recession storm, Lego's profits soared 63%. Exploration of the global market was the key to this company's recession-bucking success. While the U.S. had a stagnant toy market, Lego was able to expand to Asia and increase its sales in Europe, bringing in the big bucks. For a recent surprise addition to Lego's profit: after a recent interview where British soccer star David Beckham admitted he was building a Lego Taj Mahal during his down time, sales soared 663% - proof that sometimes free celebrity endorsement is the best profit boost of all.
  20. 20. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Brands that Failed in the Great Recession 20 20
  21. 21. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 21 21 This movie-rental chain failed to notice the future happening all around it. While Blockbuster was doubling down on retail stores and dunning its customers with loathsome late fees, Netflix wooed millions of movie fans by mailing them DVDs and offering streaming video over the Web, and Redbox set up convenient kiosks offering overnight movies for a buck. No wonder Blockbuster declared bankruptcy in September. It hopes to emerge from bankruptcy and fight back, but the company is now way behind.
  22. 22. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 22 22 Its audacious off-roaders captured the fin de siècle, faux-rugged ethos of the early 2000s. But Hummer sales tanked during the 2008 oil-price spike, and Hummers ended up on the wrong side of the "new frugality" that followed the Great Recession. The end came after parent firm General Motors declared bankruptcy in 2009, and thinned its divisions from eight to four as part of its restructuring. For a while it looked as if a Chinese company would buy Hummer from GM, but when that deal fell through, Hummer was put out to pasture.
  23. 23. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 23 23 This Georgia-based gift and stationery chain expanded into the Northeast just as the recession was gathering steam, and never reached sales levels that would have made it profitable. The company declared bankruptcy in March. A private firm bought it out of bankruptcy and downsized its footprint. The company now runs seven stores, down from a peak of 43.
  24. 24. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 5. Cut the Right Costs 24 24 1. Companies that cut manufacturing and administrative costs do well in a recession. 2. Companies that cut marketing or reduce product quality underperform in a recession. 3. Cutting ad spend will reduce your income. Research shows cutting ad spend sees sales and income fall 20 – 30% over the next two years. 4. Cutting ad spend causes damage that lasts longer than a typical recession. 5. Cutting ad spend puts brand at risk and could lead to product and service price cuts that impact profit margin
  25. 25. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc.25 Traditional Marketing Channels
  26. 26. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc.26 Digital Marketing Channels
  27. 27. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Digital Ad Spending vs. Traditional Ad Spending 27
  28. 28. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 6. Turn to Technology 28 28 1. Do you use marketing automation? How do you manage your lead flow? 2. Salesforce and Marketo are expensive platforms, consider migrating to more cost effective solutions that deliver same functionality at a reasonable price. 3. Evaluate AI technology to assist in customer service or improve the sales cycle 4. Ensure all marketing efforts are measurable, build out data reports using Google Data Studio
  29. 29. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 7. Be Resilient 29 29 1. Market change is unavoidable, prepare for uncertain times. 2. Anticipate the decisions and reactions from the C-level. 3. Be willing to try new things and invest your marketing dollars differently. 4. Be open to developing a new marketing strategy and proving value at every step
  30. 30. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. One more thing… 30 30 1. Have your resume updated. 2. Improve your LinkedIn profile. 3. Continue learning. 4. Network.
  31. 31. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. 7 Steps to Recession Proofing 31 31 1. Be Prepared. 2. Fight for the Marketing Budget 3. Align Sales & Marketing 4. Get Creative 5. Cut the Right Costs 6. Turn to Technology 7. Be Resilient
  32. 32. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. April’s Webinar Topic :: Digital Ad Trends 32 32 Presented by Madelyn Engel, Paid Media Specialist Save the Date: April 24th
  33. 33. Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc. Q & A anvilmedia.com Mike Terry Vice President @AnvilMedia @PDXAdman Amplifying You!

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