Recession-proof your business

Posted by on 29 Jan 2009 | Category: Industry Trends

A recent NAPL report titled “Choosing Not to Participate in the Recession” contained the following advice.

Step Up Marketing
In looking at cutting expenses, frequently one of the first cuts is in marketing. This can be a critical mistake.

Control the External Message
One way to make sure that you are in control of the message is to stay in front of the customer both through marketing avenues and personal one-on-one visits.

While others are cutting back on client visits, communication, advertising, and public relations, you can use communication avenues as a differentiating tool.

As one State of the Industry participant put it: “…we are taking every opportunity to make sure the company is perceived as progressive, financially stable, and completely reliable.”

Below are some of our thoughts regarding what proactive businesses need to do to survive and even prosper in today’s business climate.

– Stay in front of your target audience with relevant communications. It’s absolutely critical to build and maintain top-of-mind awareness, as well as position your brand. Look for articles on the Web that have value to your clients and prospects and pass them along. There are also companies such as mine that will create that content for you.

– Use expertly targeted communications like direct mail. Targeted communications to your best, existing clients, with relevent offers always has a high response and sales conversion rate – Sometime 100 times more than traditional, non-targeted campaigns, with means amazing ROIs.

– Go Cross-Channel for results. Email great and is low in cost, but delivery and response rates can be poor. Direct mail has superb delivery rates and good response. However the best, most effective marketing campaigns use parallel, identical messages via both media channels, averaging 15-25% higher sales than any single-media campaign.

– Ramp up their sales and marketing activities in response business conditions. Communicate with your audience at least every 60 days (preferably monthly) to ensure that your message doesn’t get drowned out.

– Some companies will begin to cut back on their efforts. Take advantage of this. Overtake these companies in the minds of your target audience.

– Take the paddlewheel approach. People need to hear your message repeatedly. Pass on large, one-time expenditures and opt for repetition instead.

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