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Recession Quick Tips: 5 Marketing Musts
Yes, your business absolutely can grow in today's economy. If you know you have a good concept and systems in place, then marketing may be the fix you need.
Think about it:
-Most businesses are cutting back, including your competitors
-Most businesses promote by doing the same thing over and over again, getting the same results
-Most businesses (90%!) do not have a plan, so will never grow beyond their current sales
Now is the ideal time to break out from the pack and claim your market share. Here are 5 recession marketing musts that you should implement right now to establish your strong foothold in today's economy and run at the head of the pack always.
Recession Quick Tip #1
Turn customers into loyalists. Adopt the mindset that a sale isn't just a transaction; it's a relationship.
Offer the best, and service before, during and after the sale. Notice we didn't say "sell," but service by offering free valuable information that keeps you top-of-mind.
Look at past buyers who, for one reason or another, decided to look elsewhere for products and services. Email or call past buyers to get their feedback. If you are going to gain them back, you have to know the reason they left and provide assurance that you will provide better support or service when they return. Assure them you'll maintain constant contact. Ask your salespeople to put a monthly reminder in their calendar to follow up. You'll win a lot of past buyers back when you take the time to find out why they left and provide a solution that helps bring them back.
Recession Quick Tip #2
Adopt a guerrilla marketing mindset. Be prepared to invest time, energy and imagination. Quit doling out cash until you learn what works and why.
Start with writing a good guerrilla marketing plan, making sure you're implementing five effective strategies at any given time. Make sure those five strategies are appropriate for your business and inspire you to take action. What works for some business owners may not work for you. For instance, some love to network; some hate it. If you fall into the latter category, you'll be wasting your time on a strategy that you'll dread. Select five strategies that you will consistently follow through on. Then follow your plan to success.
Recession Quick Tip #3
Good salespeople know that pricing is rarely the issue, even if the customer claims it is.
Jay Conrad Levinson, father of Guerrilla Marketing, says marketing in a challenged economy requires knowing where to focus time and energy. "The amazing thing about marketing during tough times is that high prices help," Levinson said. "Lower prices don't help because people with high prices get to say, 'During a rough economy the last thing you want to do is make mistakes with any money that you put out, and you can be assured by our price that you're not going to make a mistake such as you would be if you went with a lower priced product or service.'"
The real issue is that the customer doesn't see the value in what you might be selling. Instead of lowering your prices, focus your time and energy on "sweetening your deal." Consider offering a freebie, partnering with a company to offer more and lower ad costs, and most of all make sure the benefits of your product or service are fully understood.
Recession Quick Tip #4
Get a good sales process. Prospects need to see or hear from you seven to 10 times before they'll consider contacting you.
Brainstorm and adopt a multi-step process that evolves from initial contact to present identity to providing information in manageable doses to the sale. Keep your sales people on the same page with meetings and training sessions that motivate them and help them close more sales.
Recession Quick Tip #5
Become an expert in your industry. Write and submit targeted articles, speak, blog, and offer your expertise for media interviews.
Establishing yourself as an expert will not only increase your exposure, but it tells the media and potential customers that you know your business and what you offer is worth the price.
It's interesting and important to note that despite all the focus on online media, most prospects are still drawn in by print articles. In most regions, newspapers are looking for good stories to fill their pages. Do your research and give them exactly what they need. Once published, leverage all the free media coverage you gain in your marketing. For instance, if you are featured in the news, frame the article and place it in your lobby to assure customers and clients that you are the best.
Yes, today's economy may be tough for most all of us, but it can also present a great opportunity. Make it work in your favor. Start writing your recession-proof guerrilla marketing plan now.
About the Author Certified Marketing Spitfire Leslie Hamp is the creator of Business Boost In A Box. To learn more about the step-by-step program, and to sign up for your *FREE* Marketing Mastery Success Kit, visit www.boostyourbottomline.com
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