Post on 24-May-2015
description
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.
coach@marketinghat.biz
206-778-2541
Free e-newsletter:
www.marketinghat.biz