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Marketing In A Recession

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Cindy Penchina

The document provides tips for marketing in a recession, including strategies to improve sales and customer relationships. It suggests tapping into existing customer bases by promoting loyalty, adding value beyond transactions, and communicating consistently. Specific strategies recommended are finding creative ways to show appreciation to customers and remind them of your value, using testimonials to showcase why customers should continue doing business with you, and actively promoting customer referrals. The document also discusses using social media, email marketing, search engine optimization, and paid search to help businesses during economic downturns.

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Marketing in a Recession TIPS FOR SUCCESS
Marketing in a Recession For the majority of businesses a market still exists for what you sell. Somebody, somewhere is still buying what you are selling.
Marketing in a Recession Strategies to improve sales AND improve your customer relationships
Marketing in a Recession Are you making the most of your marketing dollars? Are you capitalizing on every opportunity? Is your business positioned to sell?
Social Media Marketing & WOMM Tactics US marketing executives use or plan to use in 2007 Source: Emarketer 70% 43% 36% 22% 21% 19% Email Marketing Product Placement Behavioral Marketing Blogs Paid Search Marketing Customer Influence/Word of Mouth
Marketing in a Recession Some interesting facts: Chance of doing business with new customer: 1:14 someone you had a previous relationship with: 1:4 an existing customer: 1:2 What does this tell us?
Marketing in a Recession 3 Objectives Tap into your existing customer base Promote loyalty Add value beyond the transaction Communicate consistently and frequently Renew relationships with previous customers We miss you communications and promotions Qualify new prospects in order to reduce cost of conversion
Marketing in a Recession Strategies to promote loyalty Find creative ways to show appreciation and to remind customers why you are of value to them. Remember, it costs less to keep a customer, than to find a new one. Use client testimonials, hard facts, etc. to remind customers why you are good for them. Actively promote customer referrals.
Marketing in a Recession Outbound vs. Inbound marketing Inbound Marketing allows you to allocate your marketing budget towards converting INTERESTED prospects. Search Engine Marketing Social Media Blogging PR Free Trials/Free Material Permission Marketing Telemarketing Email Blasts TV/Radio Ads Print Ads Direct Mail Trade Shows OUTBOUND INBOUND
Marketing in a Recession A quick note about CRM If you are going to communicate with customers, you need a solid CRM solution. Capture email addresses! Dont let precious leads fall through the cracks. An effective and efficient system is critical when economic times are hard.
Leveraging your Website Investment Typical Scenario You have launched a website that promotes your companys mission, products, services, programs, etc. Your website offers lots of good information about your organization and you often drive interested parties to it for a more in depth look at who you are and what you do or what you sell. Now what??
Leveraging your Website Investment QUICK ways to save money. Do you use your site to: Facilitate distribution of material that is currently printed or mailed? Provide form based request for information pages? Added bonus capture contact info. Publish online Newsletters to cut down on printing and distribution costs and increase communication? Conduct Webinars, publish podcasts?
Collecting Information Want to communicate electronically? Ways to gather email addresses Newsletter subscriptions Sign ups for promotions and specials Announcement of events Purchases Give-aways and freebies White Papers and articles Downloadable items such as wallpapers & screensavers Message boards and social media
Email your Audience Constant Contact Easy sign-up form field Multiple lists for multiple mailings Do not mail list management Reporting and data analysis
Email your audience Reporting and data analysis measuring success
What should I be sending? Newsletters Unique newsletters for unique purposes Customize messages and format to suit purpose Make newsletters visually distinct if there is recipient crossover Announcements News, new services & goods, awards, grants Promotions Sales, special offers Invitations Events, etc. Surveys Performance, topical, product test, etc
Social Media or Web 2.0 What is it? Social Media is social and interactive. It allows people to share ideas and opinions. It is a set of tools that allow people to build social and business connections and share information. Crowdsourcing leverages mass collaboration: allows an open call to solicit information from the public
Social Media or Web 2.0, cont. Examples of Social Media include: Message Boards open discussion forums Blogs author directed, open to comments Wikis community built information Facebook, LinkedIn, MySpace, Friendster connecting people with similar interests YouTube sharing video Tags Second Life virtual world, virtual communities
Social Media and Web 2.0 How can social media help your organization? Users can place and spread your media messages Resist the temptation to use social media to sell. Rather, find ways to listen to what your consumers are saying and asking for. Create communities Online communities can grow around products, services, organizations. Giving consumers a forum for sharing information, solving issues and supporting each other. Solicit opinion on products and pricing Encourage dialogue. Useful for profiling customers needs, etc. Use what you learn for product development, pricing, marketing
Social Media and Web 2.0 How can social media help your organization? Social Media is out there. MONITOR what is being said about your company and use it to your advantage. EX: when launching a new product, find a popular blogger who has spoken about your brand favorably. Send a free sample and ask blogger to review. EX: see what people are saying about your company, both good and bad so that you can react accordingly
Social Media and Web 2.0 WIKIS
Search Engine Marketing
Search Engine Marketing SEO how to use PPC effectively, landing pages, tracking WEB SITE OPTIMIZATION message- if youre using your web site as a main source of prospecting and driving traffic to it, technology, etc. Integrate online and offline marketing activities for maxiumim reach
Search Engine Marketing Organic SEO vs. Paid SEM Vital elements of ORGANIC SEO include: Meta tags Title Description Keywords Alternate text tags Crawlable COPY is the most important element.
Search Engine Marketing Paid Search Engine Marketing Pay Per Click (PPC) Used on search engines, content networks, etc. You pay only when a user clicks your listing. Main Players: Google Adwords Yahoo Search Marketing Microsoft AdCenter It is CRITICAL to do keyword research and monitor performance in order to maximize your budget and avoid wasting your dollars.
Search Engine Marketing Paid Search Engine Marketing Pay Per Click (PPC) PROS Immediate ad placementMultiple ad campaigns target more closely Set and revise budget in real time LOTS of performance data Can construct landing pages that support your ad campaigns CONS Can easily waste dollars if campaigns are not managed Is more expensive over time, than Organic SEO It is CRITICAL to do keyword research and monitor performance in order to maximize your budget and avoid wasting your dollars.
Search Engine Marketing Example of targeted ads
Search Engine Marketing Example of landing page
Marketing in a Recession Driving traffic to your site is great, but what do visitors see when they get there? (What should they see?) Brand: The face of your company: what you look like, what you talk like, your personality, your values Position : how you define externally what your company provides and how you stack up against your competitors; creation of a perception in your customers mind Message : communicating what your position clearly, and identifying the key benefits (the whats in it for me) of doing business with you
Marketing in a Recession An integrated marketing approach effectively combines the core components of advertising marketing public relations sales activities brand development research data into a ONE total marketing package, with ONE v oice
Marketing in a Recession Integrated marketing has significant advantages planning and continuity cost savings support one another single resource knowledge bank of data
Marketing in a Recession QUESTIONS?
THANK YOU!

More Related Content

Marketing In A Recession

  • 1. Marketing in a Recession TIPS FOR SUCCESS
  • 2. Marketing in a Recession For the majority of businesses a market still exists for what you sell. Somebody, somewhere is still buying what you are selling.
  • 3. Marketing in a Recession Strategies to improve sales AND improve your customer relationships
  • 4. Marketing in a Recession Are you making the most of your marketing dollars? Are you capitalizing on every opportunity? Is your business positioned to sell?
  • 5. Social Media Marketing & WOMM Tactics US marketing executives use or plan to use in 2007 Source: Emarketer 70% 43% 36% 22% 21% 19% Email Marketing Product Placement Behavioral Marketing Blogs Paid Search Marketing Customer Influence/Word of Mouth
  • 6. Marketing in a Recession Some interesting facts: Chance of doing business with new customer: 1:14 someone you had a previous relationship with: 1:4 an existing customer: 1:2 What does this tell us?
  • 7. Marketing in a Recession 3 Objectives Tap into your existing customer base Promote loyalty Add value beyond the transaction Communicate consistently and frequently Renew relationships with previous customers We miss you communications and promotions Qualify new prospects in order to reduce cost of conversion
  • 8. Marketing in a Recession Strategies to promote loyalty Find creative ways to show appreciation and to remind customers why you are of value to them. Remember, it costs less to keep a customer, than to find a new one. Use client testimonials, hard facts, etc. to remind customers why you are good for them. Actively promote customer referrals.
  • 9. Marketing in a Recession Outbound vs. Inbound marketing Inbound Marketing allows you to allocate your marketing budget towards converting INTERESTED prospects. Search Engine Marketing Social Media Blogging PR Free Trials/Free Material Permission Marketing Telemarketing Email Blasts TV/Radio Ads Print Ads Direct Mail Trade Shows OUTBOUND INBOUND
  • 10. Marketing in a Recession A quick note about CRM If you are going to communicate with customers, you need a solid CRM solution. Capture email addresses! Dont let precious leads fall through the cracks. An effective and efficient system is critical when economic times are hard.
  • 11. Leveraging your Website Investment Typical Scenario You have launched a website that promotes your companys mission, products, services, programs, etc. Your website offers lots of good information about your organization and you often drive interested parties to it for a more in depth look at who you are and what you do or what you sell. Now what??
  • 12. Leveraging your Website Investment QUICK ways to save money. Do you use your site to: Facilitate distribution of material that is currently printed or mailed? Provide form based request for information pages? Added bonus capture contact info. Publish online Newsletters to cut down on printing and distribution costs and increase communication? Conduct Webinars, publish podcasts?
  • 13. Collecting Information Want to communicate electronically? Ways to gather email addresses Newsletter subscriptions Sign ups for promotions and specials Announcement of events Purchases Give-aways and freebies White Papers and articles Downloadable items such as wallpapers & screensavers Message boards and social media
  • 14. Email your Audience Constant Contact Easy sign-up form field Multiple lists for multiple mailings Do not mail list management Reporting and data analysis
  • 15. Email your audience Reporting and data analysis measuring success
  • 16. What should I be sending? Newsletters Unique newsletters for unique purposes Customize messages and format to suit purpose Make newsletters visually distinct if there is recipient crossover Announcements News, new services & goods, awards, grants Promotions Sales, special offers Invitations Events, etc. Surveys Performance, topical, product test, etc
  • 17. Social Media or Web 2.0 What is it? Social Media is social and interactive. It allows people to share ideas and opinions. It is a set of tools that allow people to build social and business connections and share information. Crowdsourcing leverages mass collaboration: allows an open call to solicit information from the public
  • 18. Social Media or Web 2.0, cont. Examples of Social Media include: Message Boards open discussion forums Blogs author directed, open to comments Wikis community built information Facebook, LinkedIn, MySpace, Friendster connecting people with similar interests YouTube sharing video Tags Second Life virtual world, virtual communities
  • 19. Social Media and Web 2.0 How can social media help your organization? Users can place and spread your media messages Resist the temptation to use social media to sell. Rather, find ways to listen to what your consumers are saying and asking for. Create communities Online communities can grow around products, services, organizations. Giving consumers a forum for sharing information, solving issues and supporting each other. Solicit opinion on products and pricing Encourage dialogue. Useful for profiling customers needs, etc. Use what you learn for product development, pricing, marketing
  • 20. Social Media and Web 2.0 How can social media help your organization? Social Media is out there. MONITOR what is being said about your company and use it to your advantage. EX: when launching a new product, find a popular blogger who has spoken about your brand favorably. Send a free sample and ask blogger to review. EX: see what people are saying about your company, both good and bad so that you can react accordingly
  • 21. Social Media and Web 2.0 WIKIS
  • 23. Search Engine Marketing SEO how to use PPC effectively, landing pages, tracking WEB SITE OPTIMIZATION message- if youre using your web site as a main source of prospecting and driving traffic to it, technology, etc. Integrate online and offline marketing activities for maxiumim reach
  • 24. Search Engine Marketing Organic SEO vs. Paid SEM Vital elements of ORGANIC SEO include: Meta tags Title Description Keywords Alternate text tags Crawlable COPY is the most important element.
  • 25. Search Engine Marketing Paid Search Engine Marketing Pay Per Click (PPC) Used on search engines, content networks, etc. You pay only when a user clicks your listing. Main Players: Google Adwords Yahoo Search Marketing Microsoft AdCenter It is CRITICAL to do keyword research and monitor performance in order to maximize your budget and avoid wasting your dollars.
  • 26. Search Engine Marketing Paid Search Engine Marketing Pay Per Click (PPC) PROS Immediate ad placementMultiple ad campaigns target more closely Set and revise budget in real time LOTS of performance data Can construct landing pages that support your ad campaigns CONS Can easily waste dollars if campaigns are not managed Is more expensive over time, than Organic SEO It is CRITICAL to do keyword research and monitor performance in order to maximize your budget and avoid wasting your dollars.
  • 27. Search Engine Marketing Example of targeted ads
  • 28. Search Engine Marketing Example of landing page
  • 29. Marketing in a Recession Driving traffic to your site is great, but what do visitors see when they get there? (What should they see?) Brand: The face of your company: what you look like, what you talk like, your personality, your values Position : how you define externally what your company provides and how you stack up against your competitors; creation of a perception in your customers mind Message : communicating what your position clearly, and identifying the key benefits (the whats in it for me) of doing business with you
  • 30. Marketing in a Recession An integrated marketing approach effectively combines the core components of advertising marketing public relations sales activities brand development research data into a ONE total marketing package, with ONE v oice
  • 31. Marketing in a Recession Integrated marketing has significant advantages planning and continuity cost savings support one another single resource knowledge bank of data
  • 32. Marketing in a Recession QUESTIONS?

Editor's Notes

  • #13: Preplanning happens before you even plan the website.