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Ben Market Our Way Out Of A Recession

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Marketing during a recession.

Published in: Business
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Ben Market Our Way Out Of A Recession

  1. 1. A montage of all media, not just part of it
  2. 2. “ Arguably the most difficult conditions in 60 years."
  3. 3. What the media failed to point out… <ul><li>Are we on a three day week?  </li></ul><ul><li>Is inflation at 27% as in 1975? </li></ul><ul><li>Are interest rates at 15% as in the '90s? </li></ul><ul><li>Are there over 3m unemployed as in 1985-1986? </li></ul>
  4. 4. <ul><li>“ Recession? </li></ul><ul><li>I thought about recession…but I decided not to take part!” </li></ul><ul><li>Sam Walton </li></ul>
  5. 5. Downturn = Opportunity!
  6. 6. Be bold or be gone… <ul><li>As customers become harder to find, do you turn off your marketing spend? </li></ul><ul><li>If your competitors are cutting their budgets, do you follow the crowd? </li></ul><ul><li>How important is it for you to grow market share...? </li></ul>
  7. 7. ‘ Feel your customers’ pain’ <ul><li>Speak to your existing customers </li></ul><ul><li>Find out what they really need </li></ul><ul><li>Realign your value proposition </li></ul><ul><li>“ Don’t just walk a mile in your customers’ shoes…walk two.” </li></ul><ul><li>Kraft Foods CMO Mary Beth West </li></ul>
  8. 8. Positioning in a recession <ul><li>£199 on a new suit? </li></ul><ul><li>£12.50 “Good as new” </li></ul>
  9. 9. What is your DOO? <ul><li>Price – but what about margin? </li></ul><ul><li>Quality (false economy) </li></ul><ul><li>Added value </li></ul><ul><li>Are your results measurable? </li></ul>
  10. 10. Build trust and appeal to the family <ul><li>Homely values vs outward bounds </li></ul><ul><li>Appeal to the nervous buyer </li></ul><ul><li>Build your brand as a thought leader </li></ul><ul><li>Become a safe bet </li></ul>
  11. 11. Tactics <ul><li>Maintain the frequency of advertisements </li></ul><ul><li>Substituting TV for radio advertising (as this becomes cheaper) </li></ul><ul><li>Increasing the use of direct marketing </li></ul><ul><li>Consider PR vs advertising </li></ul>
  12. 12. Potential for digital media <ul><li>Reach a worldwide audience at a fraction of the price </li></ul><ul><li>Target niche audiences easily </li></ul><ul><li>Drive “word of mouse” and engage with your customer </li></ul><ul><li>Hugely measurable – ROI </li></ul><ul><li>Why build from scratch? </li></ul>
  13. 13. PRBristol.co.uk
  14. 14. DOO….something NOW! <ul><li>Be bold or be gone </li></ul><ul><li>Walk two miles in your customers’ shoes </li></ul><ul><li>Look at your DOO – Downturn Opportunity Offer </li></ul><ul><li>Revise tactics to be cost effective, targeted and measurable </li></ul>
  15. 15. Questions?

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