Ben Market Our Way Out Of A Recession

© Copyright Montage Communications Ltd 2008

A montage of all media, not just part of it


““Arguably the most difficult Arguably the most difficult conditions in 60 years."conditions in 60 years."


What the media failed to point out…

• Are we on a three day week?

• Is inflation at 27% as in 1975?

• Are interest rates at 15% as in the '90s?

• Are there over 3m unemployed as in 1985-1986?


“Recession? I thought about recession…but I

decided not to take part!”

Sam Walton


Downturn = Opportunity!


Be bold or be gone…

• As customers become harder to find, do you turn off your marketing spend?

• If your competitors are cutting their budgets, do you follow the crowd?

• How important is it for you to grow market share...?


‘Feel your customers’ pain’

• Speak to your existing customers

• Find out what they really need

• Realign your value proposition

““Don’t just walk a mile in your customers’ Don’t just walk a mile in your customers’ shoes…walk two.” shoes…walk two.”

Kraft Foods CMO Mary Beth WestKraft Foods CMO Mary Beth West


Positioning in a recession

£199 on a new suit?

£12.50 “Good as new”


What is your DOO?

• Price – but what about margin?

• Quality (false economy)

• Added value

• Are your results measurable?


Build trust and appeal to the family

• Homely values vs outward bounds

• Appeal to the nervous buyer

• Build your brand as a thought leader

• Become a safe bet


Tactics

• Maintain the frequency of advertisements

• Substituting TV for radio advertising (as this becomes cheaper)

• Increasing the use of direct marketing

• Consider PR vs advertising


Potential for digital media

• Reach a worldwide audience at a fraction of the price

• Target niche audiences easily

• Drive “word of mouse” and engage with your customer

• Hugely measurable – ROI

• Why build from scratch?


PRBristol.co.uk


DOO….something NOW!

• Be bold or be gone

• Walk two miles in your customers’ shoes

• Look at your DOO – Downturn Opportunity Offer

• Revise tactics to be cost effective, targeted and measurable


Questions?

Date post:	19-Nov-2014
Category:	Business
Upload:	matt-anderson
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Ben Market Our Way Out Of A Recession

Business