Survive And Thrive: Marketing Tactics For The Duration
Entrepreneurs are a determined and stubborn breed. Even so, today’s headlines could discourage anyone. And while it may be true that bad news sells newspapers and boosts TV talk show ratings, the entrepreneurs who survive—and thrive—during tight economic times are the ones who refuse to follow the crowd.
Opportunity can be found in chaos by those who are persistent enough to look for it. A sure way to miss the boat is to hide under the bed with the rest of the crowd. You can keep an eye on the budget without disappearing from view. In fact, the most successful businesses know that times like these are the best to get themselves ready for the turnaround that inevitably follows.
Here are my top four marketing recommendations for surviving the duration of this downturn.
Believe. Our thoughts have an enormous impact on the world around us and the people we meet. If you believe the recession will put you out of business, it probably will. If you believe that you are smart and clever enough to find the pony underneath the pile of manure, you’re also probably right. Our thoughts shape our reality—and even more importantly, they shape the opportunities we see. Not only that, but when you believe that there is a way through the darkness that eventually leads back to daylight, others will be drawn to you. They’re waiting for someone to lead them out of the gloom. Real leaders show what they’re made of during crises, and the trust, credibility and reputation they establish lasts long after the hard times have gone.
What does belief have to do with marketing? Everything! Even in the worst times, people still need to buy products and services. It’s your job to show them why what you produce is essential to their lives, their well-being or their business success. You have to believe in your value to convince others to make the investment. Not only that, but you need to believe that there is still business to be gained out there—and there is. Despite the headlines, most companies are still showing up and muddling through. They need you now more than ever. If you believe this, you’ll keep your marketing efforts running at full steam so that you’re more visible than ever.
Persist. Are you in this for the long run? Do you love what you do so much that you are determined to find a way to keep on doing it? Do you believe so passionately in the mission of your company, or the benefit you provide to your customers, that it would be wrong to deprive them of your product or service? That kind of conviction is what it takes to get through tough times. Adapt, reorganize, find new methods of distribution, cut costs, partner with others, share expenses—whatever it takes. All kinds of solutions are waiting to be discovered by those who are persistent enough to look for them. Even better—the improvements you make to your business model to get through the downturn will make you even more competitive once the skies begin to clear.
What does persistence have to do with marketing? More than you might realize. Neither marketing nor PR is a magic wand. It rarely works overnight. When money gets tight, many companies pull the plug on their marketing as if their prospects and customers had disappeared from the face of the earth. What they’re really doing is throwing away their investment in marketing and clearing a path for their competitors. When your company disappears from sight because you’ve stopped marketing, your prospects may assume the worst. They may decide to do business with a company confident enough to remain visible. That’s why you need to keep your face out in front of your prospects even during tight times.
Create value. This is a great time to educate your prospects and customers about how essential your product/service is to their own success. Do they fully understand all the benefits you provide? Are they getting full value out of everything that comes with your service or all the features of your product? Can you provide other, related services at a discount to existing customers that makes your company a better value than competitors?
This is also a great time to partner with other companies that serve the same market in non-competitive ways. You’re both looking to get more value for less money, so explore cross-marketing (such as guest blogging, swapping articles in each other’s newsletters, co-producing an event) that is long on creativity and elbow grease and short on cash. Explore options with your vendors and suppliers to partner with them to provide vertical integration—it might help both of you win new business on projects you wouldn’t have landed alone.
Prepare. Make the best of a slowdown by getting ready for the recovery. This is a perfect time to plan new programs, put together new educational seminars, re-tool your web site, set up speaking engagements, write your newsletter and do all the other marketing tasks you often have trouble squeezing in to your overloaded schedule.
Let your customers and prospects know what you’re planning. Planning means you expect to be around for the future. That positive belief fuels their hope and helps pull everyone out of the cycle of gloom and doom. This is also a great time to write case studies, solicit testimonials and connect with your clients via phone or one-on-one to listen for new ways you can serve them in the future. Realize that after every contraction there is a lot of pent-up demand. People who needed your service or product but put off buying it may show up in a crowd once they feel it’s safe to spend money again. Get your marketing and your internal systems ready for the bounty that awaits the prepared survivors.
If you’re determined to see your business survive and thrive, put these four tips to work in your marketing and you’ll be way ahead of your competition. Position yourself now for a profitable year!
Gail Z. Martin owns DreamSpinner Communications and helps companies and solo professionals in the U.S. and Canada save money and get results through exceptional writing and marketing. Gail has an MBA in marketing and over 20 years of corporate and non-profit experience at senior executive levels.
Download Gail’s new ebook “154 Power-Packed PR and Marketing Tips” for free at
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