Marketing In A Recession


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Overview of ways to leverage your web site during tough economic periods.

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  • Preplanning happens before you even plan the website.
  • Marketing In A Recession

    1. 1. Marketing in a Recession TIPS FOR SUCCESS
    2. 2. Marketing in a Recession <ul><ul><li>For the majority of businesses a market still exists for what you sell. Somebody, somewhere is still buying what you are selling. </li></ul></ul>
    3. 3. Marketing in a Recession <ul><li>Strategies to improve sales AND improve your customer relationships </li></ul>
    4. 4. Marketing in a Recession <ul><ul><li>Are you making the most of your marketing dollars? </li></ul></ul><ul><ul><li>Are you capitalizing on every opportunity? </li></ul></ul><ul><ul><li>Is your business positioned to sell? </li></ul></ul>
    5. 5. Social Media Marketing & WOMM <ul><li>Tactics US marketing executives use or plan to use in 2007 </li></ul>Source: Emarketer 70% 43% 36% 22% 21% 19% Email Marketing Product Placement Behavioral Marketing Blogs Paid Search Marketing Customer Influence/Word of Mouth
    6. 6. Marketing in a Recession <ul><li>Some interesting facts: </li></ul><ul><li>Chance of doing business with </li></ul><ul><li>new customer: 1:14 </li></ul><ul><li>someone you had a previous relationship with: 1:4 </li></ul><ul><li>an existing customer: 1:2 </li></ul><ul><li>What does this tell us? </li></ul>
    7. 7. Marketing in a Recession <ul><li>3 Objectives </li></ul><ul><li>Tap into your existing customer base </li></ul><ul><ul><li>Promote loyalty </li></ul></ul><ul><ul><li>Add value beyond the transaction </li></ul></ul><ul><ul><li>Communicate consistently and frequently </li></ul></ul><ul><li>Renew relationships with previous customers </li></ul><ul><ul><li>“ We miss you” communications and promotions </li></ul></ul><ul><li>Qualify new prospects in order to reduce cost of conversion </li></ul>
    8. 8. Marketing in a Recession <ul><li>Strategies to promote loyalty </li></ul><ul><li>Find creative ways to show appreciation and to remind customers why you are of value to them. Remember, it costs less to keep a customer, than to find a new one. </li></ul><ul><li>Use client testimonials, hard facts, etc. to remind customers why you are good for them. </li></ul><ul><li>Actively promote customer referrals. </li></ul>
    9. 9. Marketing in a Recession <ul><li>Outbound vs. Inbound marketing </li></ul>Inbound Marketing allows you to allocate your marketing budget towards converting INTERESTED prospects. Search Engine Marketing Social Media Blogging PR Free Trials/Free Material Permission Marketing Telemarketing Email Blasts TV/Radio Ads Print Ads Direct Mail Trade Shows OUTBOUND INBOUND
    10. 10. Marketing in a Recession <ul><li>A quick note about CRM </li></ul><ul><li>If you are going to communicate with customers, you need a solid CRM solution. </li></ul><ul><ul><li>Capture email addresses! </li></ul></ul><ul><ul><li>Don’t let precious leads fall through the cracks. An effective and efficient system is critical when economic times are hard. </li></ul></ul>
    11. 11. Leveraging your Website Investment Typical Scenario… You have launched a website that promotes your company’s mission, products, services, programs, etc. Your website offers lots of good information about your organization and you often drive interested parties to it for a more in depth look at who you are and what you do or what you sell. Now what??
    12. 12. Leveraging your Website Investment <ul><li>QUICK ways to save money. </li></ul><ul><li>Do you use your site to: </li></ul><ul><ul><ul><li>Facilitate distribution of material that is currently printed or mailed? </li></ul></ul></ul><ul><ul><ul><li>Provide form based “request for information” pages? </li></ul></ul></ul><ul><ul><ul><li>Added bonus – capture contact info. </li></ul></ul></ul><ul><ul><ul><li>Publish online Newsletters to cut down on printing and distribution costs and increase communication? </li></ul></ul></ul><ul><ul><ul><li>Conduct Webinars, publish podcasts? </li></ul></ul></ul>
    13. 13. Collecting Information <ul><li>Want to communicate electronically? </li></ul><ul><li>Ways to gather email addresses </li></ul><ul><ul><li>Newsletter subscriptions </li></ul></ul><ul><ul><li>Sign ups for promotions and specials </li></ul></ul><ul><ul><li>Announcement of events </li></ul></ul><ul><ul><li>Purchases </li></ul></ul><ul><ul><li>Give-aways and freebies </li></ul></ul><ul><ul><ul><li>White Papers and articles </li></ul></ul></ul><ul><ul><ul><li>Downloadable items such as wallpapers & screensavers </li></ul></ul></ul><ul><ul><li>Message boards and social media </li></ul></ul>
    14. 14. Email your Audience <ul><li>Constant Contact </li></ul><ul><ul><li>Easy sign-up form field </li></ul></ul><ul><ul><li>Multiple lists for multiple mailings </li></ul></ul><ul><ul><li>“ Do not mail” list management </li></ul></ul>Reporting and data analysis
    15. 15. Email your audience Reporting and data analysis – measuring success
    16. 16. What should I be sending? <ul><ul><li>Newsletters </li></ul></ul><ul><ul><li>Unique newsletters for unique purposes </li></ul></ul><ul><ul><ul><li>Customize messages and format to suit purpose </li></ul></ul></ul><ul><ul><ul><li>Make newsletters visually distinct if there is recipient crossover </li></ul></ul></ul><ul><li>Announcements </li></ul><ul><ul><li>News, new services & goods, awards, grants… </li></ul></ul><ul><ul><li>Promotions </li></ul></ul><ul><ul><li>Sales, special offers </li></ul></ul><ul><li>Invitations </li></ul><ul><ul><li>Events, etc. </li></ul></ul><ul><ul><li>Surveys </li></ul></ul><ul><ul><li>Performance, topical, product test, etc </li></ul></ul>
    17. 17. Social Media or Web 2.0 <ul><ul><li>What is it? </li></ul></ul><ul><ul><li>Social Media is social and interactive. It allows people to share ideas and opinions. </li></ul></ul><ul><ul><li>It is a set of tools that allow people to build social and business connections and share information. </li></ul></ul><ul><ul><li>Crowdsourcing leverages mass collaboration: allows an “open call” to solicit information from the public </li></ul></ul>
    18. 18. Social Media or Web 2.0, cont. <ul><ul><li>Examples of Social Media include: </li></ul></ul><ul><ul><li>Message Boards – open discussion forums </li></ul></ul><ul><ul><li>Blogs – author directed, open to comments </li></ul></ul><ul><ul><li>Wikis – community built information </li></ul></ul><ul><ul><li>Facebook, LinkedIn, MySpace, Friendster– connecting people with similar interests </li></ul></ul><ul><ul><li>YouTube – sharing video </li></ul></ul><ul><ul><li>Tags </li></ul></ul><ul><ul><li>Second Life – virtual world, virtual communities </li></ul></ul>
    19. 19. Social Media and Web 2.0 <ul><ul><li>How can social media help your organization? </li></ul></ul><ul><ul><li>Users can place and spread your media messages </li></ul></ul><ul><ul><ul><li>Resist the temptation to use social media to sell. Rather, find ways to listen to what your consumers are saying and asking for. </li></ul></ul></ul><ul><ul><li>Create communities </li></ul></ul><ul><ul><ul><li>Online communities can grow around products, services, organizations. Giving consumers a forum for sharing information, solving issues and supporting each other. </li></ul></ul></ul><ul><ul><li>Solicit opinion on products and pricing </li></ul></ul><ul><ul><ul><li>Encourage dialogue. Useful for profiling customers needs, etc. </li></ul></ul></ul><ul><ul><ul><li>Use what you learn for product development, pricing, marketing </li></ul></ul></ul>
    20. 20. Social Media and Web 2.0 <ul><ul><li>How can social media help your organization? </li></ul></ul><ul><ul><li>Social Media is out there. MONITOR what is being said about your company and use it to your advantage. </li></ul></ul><ul><ul><ul><ul><li>EX: when launching a new product, find a popular blogger who has spoken about your brand favorably. Send a free sample and ask blogger to review. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>EX: see what people are saying about your company, both good and bad so that you can react accordingly </li></ul></ul></ul></ul>
    21. 21. Social Media and Web 2.0 <ul><ul><li>WIKIS </li></ul></ul>
    22. 22. Search Engine Marketing
    23. 23. Search Engine Marketing <ul><li>SEO – how to use PPC effectively, landing pages, tracking </li></ul><ul><li>WEB SITE OPTIMIZATION – message- if you’re using your web site as a main source of prospecting and driving traffic to it, technology, etc. </li></ul><ul><li>Integrate online and offline marketing activities for maxiumim reach </li></ul>
    24. 24. Search Engine Marketing <ul><li>Organic SEO vs. Paid SEM </li></ul><ul><li>Vital elements of ORGANIC SEO include: </li></ul><ul><ul><li>Meta tags </li></ul></ul><ul><ul><li>Title </li></ul></ul><ul><ul><li>Description </li></ul></ul><ul><ul><li>Keywords </li></ul></ul><ul><ul><li>Alternate text tags </li></ul></ul><ul><ul><li>Crawlable COPY is the most important element. </li></ul></ul>
    25. 25. Search Engine Marketing <ul><li>Paid Search Engine Marketing – Pay Per Click (PPC) </li></ul><ul><li>Used on search engines, content networks, etc. </li></ul><ul><li>You pay only when a user clicks your listing. </li></ul><ul><li>Main Players: </li></ul><ul><ul><li>Google Adwords </li></ul></ul><ul><ul><li>Yahoo Search Marketing </li></ul></ul><ul><ul><li>Microsoft AdCenter </li></ul></ul><ul><li>It is CRITICAL to do keyword research and </li></ul><ul><li>monitor performance in order to maximize your </li></ul><ul><li>budget and avoid wasting your dollars. </li></ul>
    26. 26. Search Engine Marketing <ul><li>Paid Search Engine Marketing – Pay Per Click (PPC) </li></ul><ul><li>PROS </li></ul><ul><li>Immediate ad placementMultiple ad campaigns – target more closely </li></ul><ul><li>Set and revise budget in real time </li></ul><ul><li>LOTS of performance data </li></ul><ul><li>Can construct “landing pages” that support your ad campaigns </li></ul><ul><li>CONS </li></ul><ul><li>Can easily waste dollars if campaigns are not managed </li></ul><ul><li>Is more expensive over time, than Organic SEO </li></ul><ul><li>It is CRITICAL to do keyword research and monitor </li></ul><ul><li>performance in order to maximize your budget and </li></ul><ul><li>avoid wasting your dollars. </li></ul>
    27. 27. Search Engine Marketing Example of targeted ads
    28. 28. Search Engine Marketing Example of landing page
    29. 29. Marketing in a Recession <ul><li>Driving traffic to your site is great, but what do visitors see when they get there? (What should they see?) </li></ul><ul><ul><li>Brand: The face of your company: what you look like, what you talk like, your personality, your values </li></ul></ul><ul><ul><li>Position : how you define externally what your company provides and how you “stack up” against your competitors; creation of a perception in your customers mind </li></ul></ul><ul><ul><li>Message : communicating what your position clearly, and identifying the key benefits (the “what’s in it for me”) of doing business with you </li></ul></ul>
    30. 30. Marketing in a Recession <ul><li>An integrated marketing approach effectively combines the core components of </li></ul><ul><ul><li>advertising </li></ul></ul><ul><ul><li>marketing </li></ul></ul><ul><ul><li>public relations </li></ul></ul><ul><ul><li>sales activities </li></ul></ul><ul><ul><li>brand development </li></ul></ul><ul><ul><li>research data </li></ul></ul><ul><ul><li>into a ONE total marketing package, with ONE v oice </li></ul></ul>
    31. 31. Marketing in a Recession <ul><li>Integrated marketing has significant advantages </li></ul>planning and continuity cost savings support one another single resource knowledge bank of data
    32. 32. Marketing in a Recession <ul><li>QUESTIONS? </li></ul>
    33. 33. THANK YOU!