Action Plan Online 2010, Part 1 of 12

Winning Marketing Tactics

During the darkest days of the recession we heard plenty of recession-tailored messages in advertising campaigns. You may have even adopted some yourself. Regardless, you’re probably wondering how your marketing strategy needs to change to suit the recovery. (If you aren’t, you should be.) Here, Chris Gokiert, president of the marketing firm Critical Mass, discusses things to consider when marketing in a post-recession world.

The Hangover Effect
The lasting effects of a recession-induced headache should not be underestimated. “We know the habits of a customer when things are great are different than when they’re not so great,” Gokiert says. “But when it gets back to an upswing, those habits aren’t necessarily the same as they were before the downturn.” The cure? Don’t rest on your laurels and think you can dust off your 2007 approach. Ask customers for feedback, and listen to it.

Aggressive Marketing Campaigns
You’ve heard it over and over again: as the upswing occurs, it’s time to get aggressive to steal market share. When it comes to marketing, that doesn’t mean adopting advertisements of the Mac vs. PC style; rather, an aggressive approach is being forward-thinking. “In this environment the brands who are laggards, who take too long to get something out the door, especially digitally, are the ones that are going to suffer,” Gokiert says. But he cautions against merely throwing money at the problem. “Spending willy-nilly doesn’t mean you’re going to win. You have to find your right message.”

Principles of Marketing 101
Finding that right message means going back to basics. That said, “whether we’re experiencing an upswing or downturn, you have to resist the urge to make a guardrail-to-guardrail move,” Gokiert says. “There are some messages that should be changing – but we’re not saying changing radically.” Thanks to the hangover (see above) customers still want value. As for what else they want, there’s no shortcut for research: you should know current trends, new, digital marketing tools and what your competitors are doing. Answer those questions, and you’ll be on your way to finding the right marketing strategy.

RELATED LINKS
Action Plan 2010 in Print, Part 1 of 12: Time to Change Gears
Throughout the recession, optimists have been happy to point out the benefits of recession to struggling business owners. Most of this advice has included “wait-and-see”: after the downturn, your weaker competitors will be winnowed out, formerly astronomical expenses will return to earth and the market will be yours for the taking. It’s good advice, but you must do much more than sit back and wait to reap the rewards of perseverance. More >

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January’s Action Plan Podcast:
Tracey Scarlett, CEO of Alberta Women Entrepreneurs on positioning your business for success during the economic recovery.
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1 Draft a schedule to reintroduce original pay scales if you instituted pay cuts. 2 Consider expansion now while costs and interest rates are lower. 3 Add to your talent pool from the swelling ranks of the unemployed. 4 Research your customers: they are not the same. 5 Look for opportunities in markets that were hit harder than others.