Whats your Big Idea for marketing in the credit crunch?
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Answers (6)
Traditional marketing suggests we need to know (at a VERY basic level) our sales proposition and our audience(s). The big question is this...
Has your proposition changed as the recession hits. Would someone (a potential customer) be changing their motivation for needing/wanting what you sell?
If you can address their new motivation, you can market more efficiently based on market conditions.
So, tangible ideas:
Refined content on your website
Articles / whitepapers / Blog posts about what you do in relation to economy (valued added proposition)
Pay per click campaigns that address the market conditions
Social networking (free and easy - LinkedIn / Twitter)
The key will be to remain focused on the main goal... whether that be new business or retention on existing.
Hope this helps. If you are in Hampshire (UK) we have a seminar about this in January...
Links:
Tim S.
Managing Director at Renewables Supply Chain Ltd
Best Answers in: Advertising (1), Direct Marketing (1), Internet Marketing (1), Customer Relationship Management (1), Sales Techniques (1)
We are advising or helping our clients to get back to basics and develop messages and campaigns that are designed to cut through the crap and get to the point.
Our experience of recession shows that it is messages that are clean, clear and support a strong value proposition that are the ones that have real traction during recession
Clarification added November 13, 2008:
We also recommend a really back to basics approach to sales and marketing campaigns with much less of the fancy 'cool' things that have been used in the recent past to get attention in the market.
Coby N.
Artist, Art Director & Designer
Best Answers in: Customer Service (1), Government Services (1), Internet Marketing (1), Graphic Design (1), Customer Relationship Management (1), Individual Insurance (1), Business Plans (1), Using LinkedIn (1)
Taking a prospect out to lunch.
Old time selling face to face it the best.
Always will be.
Links:
Rani O.
VP Marketing at CTERA Networks
Best Answers in: Search Marketing (2), Project Management (1)
I always advocate cutting the crap and getting to the point... even in good times!
In a crunch like the one we're experiencing now, value propositions that emphasize cost reduction or productivity/efficiency (doing more with less) win. You need to find a way to position your offering in this way, if possible.
Not all offerings can be positioned this way, and then at the very least you should distill your messaging to focus on the tangible, short-term value that you provide.
Also, in times of recession people tend to cut out the big spending items, but spend on smaller stuff (even if in the end it adds up to the same, or more). If you can break up your offering so that it fits smaller budgets and gives a lower entry point - do it.
Dave M.
Professional trade show booth traffic builder and party entertainer. Corporate and private sector events.
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The real answer is:
If you offer a high quality product or service, it will market itself...
A henna tattoo on your forehead of your url. I am lucky onrec.com is short so will fit in big letters.
