How to do marketing during a recession

In almost every company, the red pencil is currently applied - also in the advertising budget - because of the recession sparked by the pandemic. It hurts, but only if you strike in the wrong places. New is not always good and the customer benefit is one of your sharpest advertisers. You need to develop a marketing strategy that meets the current situation.

1. Stop image advertising. 

Do not use any advertising measures that only serve to build the image. Instead, focus on specific offers. Heed the old basic rule: advertising should sell - even more so in times of recession.

2. Do not change the logo or appearance. 

Changes to the logo and appearance go into the money. Not only the development costs are to be accounted for, but also the introduction costs for new business cards, envelopes, labels or advertising materials. Even in times of normal economic conditions, these extra costs have to be earned first. In times of clinging coffers, they burden budgets far too much. The sales effect from a mere logo change is hardly measurable anyway.

3. Reason with real benefits. 

Just a little more comfort or treat yourself to something nice? In an economic crisis, this is not enough of a reason for buying. In times of recession, reason keeps consumers' wallets closed. Rational reasons for buying are also needed to convince consumers of a product or service.

4. Cancel any promotional measures whose successes cannot be controlled. 

If you can't measure whether the number of requests, webshop visitors, the frequency in your store or real purchases increases after an advertising activity, then leave your fingers off. There is nothing to justify advertising whose success cannot be controlled. Classic advertising measures such as advertisements, posters or radio spots should now always include possibilities for feedback - a coupon for cutting out, an order hotline, a voucher and more.

5. Activate your regular customers. 

Expand all measures that help you achieve more revenue with existing customers. The reason: These regular customers no longer need to be convinced of the customer relationship. You just have to buy more. In addition, there are no costs for new customer acquisition if you succeed in activating regular customers to increase sales. A master in it is - of all things - prefabricated house builder Weber. One should think that everyone only buys a house in life - and is then lost forever as a customer. But not at Weber - they offer customers expansion products or derived products such as.B solar systems. 

6. Discover vouchers. 

Vouchers - others also call them coupons - suggest real value. So for consumers who have to pay attention to the money, they are worth cash. Incorporate these cash values into your advertising.

7. Enhance your online activities. 

Many companies are currently making this budget shift. They are shifting funds intended for traditional forms of advertising and are increasingly putting them into online activities: the reason: online advertising is cheaper, can be accurately logged and evaluated, and has the potential to spread itself.

8. Prefer direct advertising. 

Instead of anonymous mass advertising, you should now prefer personal, direct advertising. These include: telephone advertising, e-mail advertising, classic direct mail, house-throwing broadcasts, but also trade fair participation.

9. Rely on product samples. 

Put trial offers in the foreground as much as possible. The percentage of buyers increases when products can be presented, touched, tried out. The good old product presentation at the specialist retail partners is therefore not dead. And neither is the idea of tasting goods. By the way, you benefit from the property effect here: what you once have in your possession, you are reluctant to give back.

10. Forget repeat effects. 

Steady drop hollows the stone? Advertisers often recommend that advertising is often repeated in order for it to work. The truth is that after the second contact consumers have with your advertising, their benefits decrease. So you get the most effectiveness when you spread advertising more widely, rather than repeating it frequently.

11. Woo the willing to buy.

 

Align your advertising measures in such a way that ideally you only reach those who are about to make a purchase decision. So invest more money in those interested in buying. For retailers, this means: even at the point of sale, more people are courting customers, placing advertising in the catchment area of your store - because those who are already on a shopping spree can be redirected more easily and, above all, more cost-effectively.

Report this Page