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Has your marketing strategy changed? |
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TeamBiz Editor | According to an article published on Harvard Business School's website, companies should adopt a slightly different approach when it comes to marketing in difficult times. Some of the tactics include understanding the way your customers respond to the recession, focus on family values in your advertising, maintaining your marketing budget, offering temporary price promotions etc. What do you think? What should a small business do to improve their outcome? What worked and what didn't in your marketing? |
 | You need to adapt your marketing message to address the perceived "pain" of your client. The key is to find ways to make the change without diluting your core message. If, for example, your main "claim" is increased productivity, you can present it from two opposite angles. In good times, when everybody is focused on growth, the main idea behind your message could be "higher return on your resources". In down times, when everybody is focused on cost-cutting, your message could change to the tune of "cut costs without hurting your output". It's actually the same thing, just a different angle. If you managed to start building your brand, I would be very careful with changes in marketing. If your clients are praising (and, hopefully, referring) you on the quality of your services and you start advertising "low price", you effectively closed your business and opened a new one. |
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