Action Plan Online, Part 7 of 10 |
Steal Market Share in a Recession
Jump on the Bandwagon…or Not
It seems like everyone is doing it. Every time you turn on the TV more companies are sympathizing with your smaller budget. But when Quaker Oats suggests the high protein value of oatmeal makes it a viable alternative to costly meat – as if anyone is going to serve porridge at their next barbecue – you have to wonder if recession advertising has gone too far. So should you introduce a recession message into your marketing? Three experts weigh in.
“I think it shows a sensitivity to the current economy. However, businesses have to be careful not to send a message that price is the only reason to buy a product, because it may cheapen the image. If Sleep Country started pushing all low-end mattress, it might give the impression that they blow out bad quality. If a business is constantly having sales, it looks like they are in economic trouble, or they’re conditioning people to think of them as the discount solution.”
Jacqueline Drew, president, Start Marketing, Calgary
Some companies are probably using that message because it’s in line with their strategy, so if you’re the budget brand you’re reinforcing your strengths. But if your key position in marketing is a luxury brand, it would do you a lot of damage to position your product as budget conscious. Do you want to jump on the recession bandwagon, or move past it? If every product is using that message, more consumers will think “Oh, it’s worse than I thought.” Advertising can affect public perception and consumer confidence.
Geoff Grimble, Account Director, Toybox Media Inc., Edmonton
There is nothing inherently wrong with tweaking your brand to reflect the recession. But like most things, it’s the execution that matters. McDonald’s “Appetite Stimulus Package” is the same old value meal, wrapped up in slump slang. It’s lazy to slap a recession veneer on your brand; instead, strive for a deeper connection with your customer. Target’s “Brand New Day” ad series, for instance, is pitch-perfect. Recession-era products (i.e. hair clippers, self-tanner) are introduced as means to interact with the family. Thrift has never been this fun. “Dirt cheap” isn’t a long-term strategy; aspirational partner is. Ensure that brand tweaks make consumers feel like savvy shoppers, not scroungy skinflints.
DJ Francis, Author, OnlineMarketerBlog.com and senior content analyst, Critical Mass, Chicago
RELATED LINKS
Action Plan in Print, Part 7 of 10: Grab Market Share–While It’s Cheap
Many business owners view marketing suspiciously: its effectiveness is difficult to measure, its costs can be high and, done poorly, it can even have a negative effect. Is it any wonder the marketing budget is usually the first to go under the axe? The importance of marketing – especially in a recession – may be one of the biggest chasms between business owners and the people who advise them. Organizers of the Calgary Stampede knew they faced a tough battle keeping ticket sales high this year. But when its marketing budget received a $2-million infusion from Ottawa, organizers put it to good use. The result? Ticket sales were actually higher than in 2008 and flirted with an all-time record. Whether the economy is good or bad, marketing, done properly, works. Here’s how to make it work for you. More >
| 1 | Bundle products or services to add value. |
| 2 | Don’t try to re-brand your company now – stay consistent. |
| 3 | Maintain your presence in your traditional advertising venues. |
| 4 | Take advantage of lower material costs by putting the savings into marketing. |
| 5 | Don’t skimp on sales. Your sales force will keep you in the door. |













