5 Recession Proof Marketing Strategies in a Downturn
While nobody loves a crisis it is important to remember, your clients still need you, and we need to let them know that we’re here to help them – now AND in the future.
In a previous article I told you my grandfather said, “You never have to GET ready if you STAY ready.” Thinking about COVID-19 and how it will impact business across the country, he is absolutely correct. Facing perceived hardship and uncertain times requires developing and deploying an upgraded sense of optimism. You aren’t marketing your products or services because of the crisis. You’re simply marketing in the crisis. The distinction between the two means that you are continuing to service your clients, versus merely capitalizing on their pain. Your clients and prospects want to hear and feel that from you. These are my 5 Tips for Downturn Marketing:
1.) Maintain frequency & consistency – Don’t panic. Your clients know who you are, and trust what you can do for them. Prospects still have a thirst for your products and services. Maintain the frequency of your campaigns, and remember to keep the messaging and approach consistent. You need clients and prospects to still recognize your name, logo, and approach to the way you do business. You want to be the ‘known entity’ whenever possible.
2.) Focus on quality over quantity – You all know how much I love testing, and that doesn’t stop in a crisis. You still need to know what works. You still need to know the best and most effective ways to reach your best clients and solid prospects. Leave the ‘spray and pray’ techniques to your competition. A strategic, well-designed postcard campaign is still a tremendous way to bring in new business.
3.) Highlight without explanation – People still need what you’re selling. But it makes complete sense to softly highlight products and services where you also excel in non-crisis situations. Something as simple as an asterisk at the end of a product in a bulleted list can drive your message discreetly to the right audience inside your Targeted Marketing list.
4.) Improve affordability – If what you sell or provide for the community can be discounted, even by a nominal percentage, it makes sense to highlight that. Don’t put it in an offer tied to new business, and don’t make it indefinite. “5% Off (of ‘X’ service) until the end of June” is a simple way of showing compassion, and doesn’t mean you end up taking a bath to be accommodating.
5.) Understand recession(ary) psychology – This is a big one. Let me point you back to another great article, and the last bullet of the 3 Levels of Prospect Connection, the Personal Level. I got this from an online journal I follow and it’s wonderful: “In frothy periods of national prosperity, marketers may forget that rising sales aren’t caused by clever advertising and appealing products alone. Purchases depend on consumers having disposable income, feeling confident about their future, [and] trusting in business and the economy.” On a personal level, if you make your campaign personal to the prospect or client, they tend to feel the decision. And, in turn, feel that you’re there standing with them and supporting them in their need. It’s fascinating and uplifting.
Give Opportunity Knocks a call today. Clients still need you, and you still need to make sure you’re able to fill the funnel. A crisis might not be fun to contemplate or to experience, but the potential hiding just over the next hill or around the corner as economics and purchasing power come back to full-strength can be an absolute boon. We’ve got Success Coaches (and one grandfather) standing by to help ensure you get ready to stay ready!