Getting out of Survival Mode

Marketing 201: How to Market in a Down Economy

The economy added 162,000 jobs the Labor Dept. reported today, and the unemployment rate is staying below the anxiety-producing 10% mark. There’s lots of speculation that this time, this one is really it. That maybe the recession is over, or if not over, then ending. The New York Times

Business leaders have become increasingly pessimistic about the economy, reporting that they don’t see the recession ending this year, and don’t expect to hire more workers any time soon.MSNBC

Unfortunately, in the real world of reason, an economic indicator with a perfect 40-year history of predicting recessions just said a double-dip is coming for sure. Daily Finance

YES

!

NO!

NO!

With the housing market still depressed, and the official unemployment rate near 10% and jobs growing very slowly, many economists are concerned about the possibility of the economy lapsing into another recession.Los Angeles Times

NO!

How were you marketing your business 5 years ago?

How were you marketed to 5 years ago?

Does this marketing still work?

Can you “tweak it” to make it work?

Should you start over with a fresh approach?

“Last thing to do before you close your doors: stop marketing!”

Advertising vs Marketing• Marketing is the plan

• What are you going to do?• How are you going to do it?

• Advertising is the action• Put it in front of your customer• Great message• Make it pleasing

Marketing vs Sales• Marketing is how you reach

potential customers & message

• Sales is what you do to turnpotential customer into

customer

• Both must work in tandem• One cannot be successful without the other• Everyone must be on board

Make Your Marketing Count• Follow thru• Do it all the way• Repeat when necessary• Plan, write, plan• Checklist all the to-do’s

Differentiation Strategy• Create it, write it, live it• What makes you better?• What makes you

different?

• Shout it from the roof tops!• Make it valuable to your audience• PR it

Focus Strategy• Create it, write it, live it• Do a competition

analysis• Who is your perfect

client?• What is the message

thatwill call them to

action?• Put yourself in their

place

Commiseration Strategy• Create it, write it, feel it, live it• Free is everybody’s friend• Coupons coupons coupons• Usage based rewards• Put yourself in their place• Be their friend

“Everyone drinks more during a recession; they want to forget”

Friends Strategy• Charitable organizations• Networking events• Bend over backwards—to a point• Create your own party (buzz)• Social media• Interact• Make friends

“All lasting business is built on friendship”

Create a Gimic—buzz• thechive.com

Create a Gimic—buzz• The Old Spice guy

Create a Gimic—buzz• Do your research• Audi Green Police

Be Customer-centric• Know your ROI• Know your leads costs• Know what client you want• Know how to say NO• Listen to what customers want• Act on what you know

“Keep three things with you. Patience,courage and friends, you will never realize The heat of recession.”

Be Customer-centric• Offer referral rewards• Cultivate what you have• Cross sell/up-sell options• Use testimonials• Be an advocate• Do your business differently

Cheap Marketing• Organic Search Engine

Optimization• Google places• Linkedin• Photo sites• Twitter• Bing Business• Yelp & Digg• Blogspot• In your field

Cheap Marketing• Web and e-mail

• e-news • e-offers• follow spam laws!• Website content management• Blogs• Coupons

Cheap Marketing• Promotions and public relations

• Invite media for a story• Have an party• Create a newsworthy event• Invite important people• Offer free or discounted

services to “talkers”• Reciprocity• Client letter

Cheap Marketing• Social Media

• Facebook FAN PAGE• Linkedin• Twitter• YouTube• Flickr• Angie’s list or Craig’s list• Foursquare• Myspace• 340 that we counted

Cheap Marketing• Design & Message

• Eye catching business card• Thank you cards• One good sell sheet/brochure• Concise easy to navigate website• Consistency• Less is more• Good, refined message from all

employees

Getting out of Survival Mode

Marketing 201: How to Market in a Down Economy

© Copyright Gilmore Marketing Concepts 2010