Advice:Marketing in a recession: tips to survive

By , published on 6th October 2010

Managing marketing appropriately for the market conditions is essential if a business is to weather these difficult times. With customers watching what they spend, businesses need to keep them engaged and ensure their company’s messages are being well received.

  1. When the economy is weak, your sales message must be strong

    Who are you? What do you do? Simple questions, but a surprising number of businesses struggle to answer them. No matter how many diverse services it offers, an organisation needs to present a clear identity to the outside world. In a recession, a strong brand identity is crucial. You need everyone to know exactly who you are and what you do. So tell them.

  2. Explain USPs

    Businesses need to be able to stand out from their competitors. Every successful product or service has unique selling points (USPs); many businesses don’t highlight the little things that make them special. And if you don’t look like anything special, customers will naturally gravitate towards another company that does.

  3. Be consistent

    A strong sales message is crucial, but it is equally important to ensure that this message is consistent across every communication activity. Each communication needs to reinforce the core message otherwise your customers will get confused and spend their money on something that they can understand

  4. As the market changes, so must your marketing

    As the market changes so do the needs of customers and the issues they care about. And so must your messaging. Understanding how to position your company to customers in relation to market conditions will help you stay in line with what’s on customers’ minds.

  5. Understand your market

    It’s critical that you know what your competitors are doing and also what they aren’t.  It’s also important to stay up to date as to what customers want and need.

Whether you manage your marketing in house or work with outside agencies, you need to get it right. The biggest effect that the recession has had is to drastically cut the margin for error. With customers spending less, good marketing is crucial for keeping them engaged and spending. And this will ensure the survival of your business.

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Janette Whitney

About Janette Whitney

Janette Whitney is an award-winning business consultant, media columnist and award-winning business author. She specialises in business growth strategies and finance and formed her consultancy business after a highly successful career in banking. Janette’s expertise has won her both national and regional awards which include ‘Consultant of the year’ and ‘Business Book of the Year’ award (as co-author of ‘The Essential Business Guide’).

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