Marketing through the Stormy Weather
by Clare Treston
If your stomach has been lurching over the recent roller-coaster
ride of the global economy - don’t panic! Using this time productively
to get your house in order can give you the edge over your competitors
so you’re sorted and ready for better times.
Do a Marketing Audit
Are your current communications achieving
their objectives? Are they you sending a consistent message across all
communications? Consistency makes your brand stronger – aiding customer
recall and understanding of what your company stands for – and it’s
cheaper to implement! By undertaking a marketing audit you can check
for inconsistencies and weaknesses in your current collateral.
Revisit your Marketing Objectives
Are your marketing objectives
too ambitious in the downturn? Perhaps they should be adjusted? Perhaps
a different strategy is needed to keep you on the up?
Remember the Customer?
Be proactive. Your customer is feeling
the pinch too. Go out and talk to them. What can you do to make their
life easier? Do you need to review your product or price to keep them
loyal in harder times? Should you look to other market segments?
Revisit your Brand Position
Take some time to evaluate your
place against competitors. Where do customers place you in comparison?
Think about whether you positioning is accurate, advantageous and being
communicated to your customer?
Talk to your Creative Partner
Don’t forget to talk to Tell. We
can help you to make your marketing dollars work harder. Make sure you
keep your creative team in the loop regarding any changes in your
objectives, target market or positioning so that creative
communications are executed according to your marketing plan.
The Sun’ll Come Out Tomorrow
The good news is that the downturn
will end. Harley-Davidson CEO, Mark Hans-Richer believes that spending
in a market downturn creates a competitive advantage for a market
upturn “an extra dollar spent today has extra dividends for tomorrow”.
At the very least, we should all be grateful that, we’re not in America!