
When your competitors are cutting their marketing spending
‘ll do better if you were in front of an audience of economic recession in the brand, product or service. In the win market share decline. If you have a good idea to play your hand, your company will be out of the downturn in better shape than before.
illegal first reaction of many companies, business contraction, due to the economic downturn, as we are now a decrease in advertising and marketing. Or, they try to May reduce their prices to maintain an active customer. Or, they allow employees to save overheads. Does this sound familiar?
, they can seriously harm your business and market share. Let’s take a closer cooperation threat.
not known, but the job strong>
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must constantly remind you of life and interests, and they may provide. If your marketing costs decrease, and will completely disappear from their eyes. How will you buy?
low prices will remain low / strong>
companies who went to the lower cost method, may in the first “success in the sales process is an economic recession. However, it is a double-edged sword. First of all, it really lower prices lead to many sales, which will produce more than maintain the current level of prices and drop in income?
You should also take into account what happens when things turn for the better. How do you convince your customers that the product is X dollars bought a couple of months, suddenly worth X + stuff? Also, if you cut the price, there is always a competitor who can be further reduced, so there are no buyers and cheap Niyitegeka lived.
kick expert, you will not strong>
While the fat is removed is a good idea (though you should have a good idea times, not only in the face of economic downturn), do not resort to panic, their strategies for human resources. If you allow your professionals to save money, you will not be available if the business turns for the better. Lease is a long and expensive process, and will greatly slow the recovery.
note also said: “experts” in this context refers not only to management. Specifically, if you’re doing high-tech companies, your skilled workers is equally important, if not more important. Why? Ah, such as financial management is almost the same, regardless of the job. However, industrial production May need a special kind of skill only improved their products perfect.
lost market share in hard back strong>
illegal most important thing is to be careful not to let decrease your market share. If you have lost market share in the economic downturn, it will be harder to win back many times when business starts to improve.
So how do we avoid these pitfalls?
to strike a balance between short-term branding and marketing strong>
should focus on action to keep you in the short term revenues. In fact, if you are primarily to promote their brands, maintain the promotion of some, but to increase your activity, make an immediate relative expenditure.
focus on existing customers strong> p> chances are your business follows the 80/20 rule, many companies do: account for 80 percent of your business from your customers account for 20 cents. Keep in mind that your existing customers. How to find your product or service may use more than their changes accordingly, if possible. If you can not change, how to find your product can bring them the way they earn more income or other benefits from a new perspective.
use in your marketing budget more efficiently strong>
It is time to forget “This is the thing in our business “done. What you need is greatest in the minimum investment return.
1 Communication!
keep customers ahead of their own. Creating a strong brand, while looking for new ways to shape your marketing information to better with existing and potential customers echoes. Do it, show your interests, your work is still in the game.
Please do not forget that internal communications. The results show that the commitment to improve staff often at this time, but I can only tell you if it is used to establish two-way trust. Regularly to inform staff what happened, how to fund their expectations for the future. People are not stupid: they will realize that layoffs are inevitable, if you always give them the message, so that they understand more and more serious over time trend. If people are in the dark, then suddenly laid off some people, it will only let your anger and encourage bad publicity, no matter how good you might think your reasons.
2 Skip expensive and inexpensive weapon!
If you are dependent on trade newspapers and television, providing marketing information, considered more cost effective way.
direct mail works, and if sent by post or e-mail. Instead of expensive international trade fair participation, organized by the “shadow” on display at the fair site simultaneously with the main event.
Let’s go to you instead of your customers: to organize road shows and seminars, not to send their sales staff, customers knocking on the door of customers. Another advantage is that when you invite your customers to their program, they are more cautious and will not be your competition as well as information dispersed in the fair. Organize your activities or sponsored event. In short, to see if below the line activities can bring the Internet activities of this business for more than the same amount.
3 Learning!
for themselves and their sales good use of time: research your customer’s challenge is to find to explain why your product is right to address these challenges. Focus on your product or service that will help customers save money or use more of these attributes.
4th Innovation!
in your marketing communications, to do something, do not even think of your competitors. And not what is expected of you, or you used, it is different.
If you feel that your advertising does not produce what you expected, consider a network of freelance work. Lower than the price of their bodies the way, in most cases, you can pay for your work time and not a one-time transfer fee. Freelance does not sacrifice your coffee break.
or change your information. In the new, more personal way for their clients. Find out what makes your customers “tick”, and in this use. P> 5 Education!
forward to your marketing and sales personnel and more. In many companies, “sales” still means sitting behind a desk waiting for a command-inch head consultant hired to teach your work so that the cold call, find new opportunities to sell, expand their opportunities in all.
its employees, except for education, but also to educate their customers. We started collecting feedback: organizational customer research to identify customer problems and is based on the findings, provide information on how to solve these problems the solution information. White Paper, a special report is a good way to do it.
changes from one-way street sales of two-way dialogue. This will create more confidence, to take care of their success.
6th Focus on return on investment!
not to accept the request of your boss X percent of the total cost must be reduced. Align the price level of expected income. It does not matter how much you have in your marketing investment income, if returned, so it is better profits. What you should be 1) the cost of two) will bring several inches of
voice to share, you will retain the shares, the market strong> < , br />
Let us first term directly. Sharing the Voice (USA) from your competition in your market, in other words, just your marketing and advertising related to marketing / advertising your business visibility share the cake.
stocks, the market’s own explanation: their share of all businesses in the industry.
becomes interesting if we want to keep their superovulation above SOM will be a growing market share in the final result.
more than one percentage point of market share, it will bring ultra-ranked market share by 1 percentage point increase each year. For example: If your market share is now 30%, its share of 25% of the vote, their share of voice systems was 31%, maintained at this level, it allows you to expect 31% market share next year.
In short, if you see more than your competitors, your position, increase its market share, recession or not! Another advantage is the visibility of the economic downturn will be a solid, reliable business partner to our clients to make you more of them out in difficult times when you buy the person who is interested in almost invisible.
live in depression refers turn for the better
In short: if you still adhere to marketing and innovative solutions, reduce costs, you will not only weathered depression, but this is outside the country much better than your competitors. Perhaps a better market share, customers, and a clearer picture, better business, most importantly, a better income. P>