Recession Marketing

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Ways to successfully market your business, even in challenging economic times.

Published in: Business, Economy & Finance
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Recession Marketing

  1. 1. RECESSION MARKETING
  2. 2. 1. UNDERSTAND BUYERS 2. SET PRIORITIES 3. MEASURE EVERYTHING 4. DO MORE WITH LESS
  3. 3. 1. UNDERSTAND BUYERS
  4. 4. Consumer Trends • Less mobility – 60 year low • Fewer marriages – 31% of adults never married • More seniors are working • Everyone is “trading down” • Looking for “deals”
  5. 5. Observational Research • Beware the “transition zone” • Right turn emphasis • Signage vs. merchandise
  6. 6. Consumer Trends • Consumers looking for recommendations, testimonials & case studies
  7. 7. Exercise • What buyer behavior is impacting your business?
  8. 8. 2. SET STRATEGIC PRIORITIES
  9. 9. Core Growth Strategies • Sell to more people - new to the category - steal share from competitors • Sell them more stuff • Sell at a higher price
  10. 10. Unique Selling Proposition • What does your business provide that is unique? • What sets you apart from everyone else in the world? • Not just a tagline or slogan
  11. 11. A Better Cow
  12. 12. A Different Cow
  13. 13. The Upsell • Ask! – Would you like fries with that? • Be specific – Not “can I get you anything else?” • Focus on benefits – “This drive holds twice as many photos” • Offer accessories • Let them “taste” the goods – Bring the dessert cart around
  14. 14. Good/Better/Best • Given three options, people tend to chose the middle one (57%) • Make sure your “Better” option has good margins for you • Consider order of presentation
  15. 15. Exercise • What is your #1 strategic priority?
  16. 16. 3. MEASURE EVERYTHING
  17. 17. How’s that working for you? “One half of my advertising is working, I just wish I knew which half it was” • Use direct response • Creative measurement • Design a test • Look for patterns in the data
  18. 18. Who You Gonna Call?
  19. 19. Creative Measurement
  20. 20. Is it Testable? • How could you test what impact the marketing will have?
  21. 21. Exercise • What do you want to measure?
  22. 22. 4. DO MORE WITH LESS
  23. 23. More With Less • Focus spending on a few things that work • Get targeted • Crowdsource
  24. 24. Social Media • Do you already have fans? • Are you trying to reach a community? • Make friends before making offers • Have patience
  25. 25. Exercise • How could you do more with less?
  26. 26. Questions ?
  27. 27. Let’s Stay in Touch Harry A. Thomas MarketingHat, Inc. coach@marketinghat.biz 206-778-2541 Free e-newsletter: www.marketinghat.biz

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