Hedley Basford Management Consultants

Ten Questions

What to ask before hiring a Management Consultant

FREE Report



Recession Marketing

Adapting to the Recession

Recession periods force most people to take a long hard look at their spending, which is why many businesses have seen a change in customer behaviour.

Some of the worst hit areas can be companies in the luxury goods and services market as people tend to downshift making these areas more vulnerable.

Yes people still like to treat themselves, but now its being done on a budget.

Recession Marketing

BENEFITS:

  • Increase new and repeat sales
  • Protect profits while adding value
  • Stronger business ready for the recovery

ACTIONS:

  • Review existing promotional efforts
  • Talk to existing customers
  • Create fresh innovative marketing strategies
FREE - Half Hour Business Consultation
CALL: 01227 861133 TODAY!

Changes in spending have spread to nearly all sectors and markets including the business to business.

If a company fails to take this into account they are going to find the recession very hard to survive.

Look after your existing customers

Recession survival is not all about chasing new customers at the expense of existing ones. A businesses current or previous customers are a much easier reselling proposition providing they had a positive experience and still require your products or services.

By talking to your customers you can find out what it is they really want from you and how their needs might have changed. You can then use this information to create suitable marketing strategies to not only encourage sales, but also to reward customer loyalty.

Sadly no business can expect to retain every customer as there are many factors outside your control, which effect customer loyalty, however a successful business should always retain a core of loyal repeat purchasers.

Dropping prices

Slashing prices can seem to be a tempting solution to promote more sales, but businesses need to be realistic and protect their profits. Remember customers donít just want cheaper products/services they want real value for money.

Yes by all means keep your pricing competitive with regular reviews, but in addition look for ways to add value first before changing the price.

Review your advertising and marketing

Businesses should avoid stopping all advertising just to make short term savings, as the cost can be fewer sales and competitors take your place. By being smart with business promotion you can make your advertising and marketing work hard.

Any business promotional should always pay for itself as well as bring in extra revenue. So itís vital that you have clear goals for your marketing campaigns plus accurate ways to measure them. This way you can make sure all promotional efforts produce the results you want and stop any that are failing to deliver.

Business Recession Support & Advice
CALL: 01227 861133 TODAY!

Get help to adapt your business marketing to the recession.

For extra help in reviewing your promotional efforts and creating new recession marketing strategies businesses can secure the services of a good business marketing consultant like Hedley Basford.

Hedley Basford marketing consultants are helping companies today to adjust their promotional efforts to beat the recession and we could help you too. For more information including a free half hour consultation contact us today.

 

  Delicious Bookmark on Delicious   Facebook  

Market Your Business!

Support and Advice on business marketing during a Recession

Contact Us


recession marketing