Recession Marketing?
Don’t Cut…CHANGE!
Okay, so things are tightening up in the marketplace. Don’t tell me you’re surprised.
If you’ve been following my advice for any length of time, you know I’ve been predicting a serious economic slowdown. Well, it is hitting and there is no end in sight. If you’re lucky enough to be in a market or industry that hasn’t hit yet, don’t worry, it’s coming and coming soon.
Since economic malaise appears to be an inevitable reality, the burning, profound, seminal question is…so what?
So what if the economy is in the tank? So what if demand for your product or services is dropping like the Wall Arch? So what if your industry is falling apart around you?
So what?
You’re still in business, aren’t you? That means you still have to go out and get the business!
Yes, there is still business out there. You’re just going to have to work smarter to get it. (Notice I said smarter, not harder.)
Now here’s what normally happens in these unpleasant situations. Companies large and small immediately look for places to cut expenses. They go into scarcity mode. They look to weather the storm, because they see it as a storm. And when it comes to cutting expenses, what is the first thing they cut? You guessed it. Marketing and advertising.
One client of mine explained it this way…
“I used to look at marketing like it had a big target on its back. When things got tough I knew it was the first thing I could cut.”
Well, he’s a client of mine, so you can bet he doesn’t think that way any more.
You need to start by changing the way you look at the current slowdown. It’s not a storm for the savvy. It’s an opportunity. An opportunity to pick up easy market share, abandoned by competitors whose businesses fail altogether, or who cut their marketing to weather the storm.
So don’t cut your advertising…change it!
First, shift your emphasis to your existing customers, clients, or patients. Instead of high cost, low return traditional media, move toward direct mail, email, and telemarketing to your existing clientele. Ask them to come back and do business with you. Make it easy for them with compelling offers.
“But wait, Jim, I’m a roofer! I can’t sell anything to my existing customers for 20 more years!”
Then find something else to sell them! Joint venture with painters, landscapers, remodelers, deck builders, interior designers, closet and garage companies, window and insulation people, plumbers, HVAC contractors and countless others. Make sure these joint venture partners are reputable and deliver quality products and services, then offer their services to your customer list, receiving a commission for each sale made to your list.
Now, let’s move on to the advertising itself.
Stop doing puter image stuff…the “branding” alone, and start doing direct response advertising.
I’m talking about advertising that not only captures attention, but converts it into interest, cultivates burning desire, and inspires immediate ACTION!
Fluff advertising…the kind that is just designed to “get your name out there,” may have been good enough int he past, when you had all the business you could handle and things were growing on their own.
But now you need the phone to ring today. Now you need people to walk through the door, TODAY. Now you need to hear the ka-ching! of the cash register. Today. You no longer have the luxury of inefective, unmeasurable advertising.
Look, I can’t promise that by following my advice you won’t be adversely affected by the recession. (Although it wouldn’t surprise me if by doing this, you actually grow while your competition flounders.)
But I can promise you that when you follow this formula, you will minimize the erosion, minimize the pain, and put yourself in a position to slingshot out of this thing with a wonderful winning upsurge when things turn around again.
While you’re at it, CLICK HERE to download my breakthrough new report, “How to Market Your Crap When the Economy Is in the Toilet.” A full 75 pages of pure content, you’ll learn 12 immediately actionable strategies you can use to maintain and even IMPROVE your profits in the face of this economic crisis. Oh, and did I mention? It’s absolutely FREE as my special gift to you! Enjoy! 
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Comments
GREAT information in this post, lots of stuff I can put to use right away!
Hey Jim,
Thanks so much for this! It’s so easy to pysche yourself out when things are going badly in the economy, so this is a much-needed reminder that there is still business to be had, and proven ways of getting it.
Your report looks awesome too. Thank you! Can’t believe it’s free!
Jim & Co.
Keep the tips coming. In fact, this stuff goes way beyond tips. The reports are phenomenol! Plenty of lean, red, marketing meat to chew on. Love it!
You have hit the nail in the head! Sometimes when you are stuck in crisis you lost focus on what needs to be addressed, but with your post I find it believable to survive the recession, just have to change some ways in my business.
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