recession marketing
DESCRIPTION
Ways to successfully market your business, even in challenging economic times.TRANSCRIPT
RECESSION MARKETING
1. UNDERSTAND BUYERS
2. SET PRIORITIES
3. MEASURE EVERYTHING
4. DO MORE WITH LESS
1. UNDERSTAND BUYERS
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”
Observational Research
• Beware the “transition zone”
• Right turn emphasis
• Signage vs. merchandise
Consumer Trends
• Consumers looking for recommendations,
testimonials & case studies
2. SET
STRATEGIC
PRIORITIES
Core Growth Strategies
• Sell to more people
- new to the category
- steal share from
competitors
• Sell them more stuff
• Sell at a higher price
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
A Better Cow
A Different Cow
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
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
3. MEASURE EVERYTHING
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
Who You Gonna Call?
Creative Measurement
Is it Testable?
• How could you test what impact the marketing will
have?
4. DO MORE WITH LESS
More With Less
• Focus spending on a few things that work
• Get targeted
• Crowdsource
Social Media
• Do you already have fans?
• Are you trying to reach a community?
• Make friends before making offers
• Have patience
Questions ?
Let’s Stay in Touch
Harry A. Thomas
MarketingHat, Inc.
206-778-2541
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