Staying in Front of Your Customers

Posted in: Blog, Featured, News, Strategy
on October 27, 2010
Tags: design, strategy, web

Tough times call for drastic measures. A natural reaction to the current economic downswing was for companies to counter a drop in revenues by cutting costs wherever possible. The result meant that many companies’ marketing budgets were substantially cut and their staff was reduced to a skeletal crew.

Personally, I have seen a significant drop in direct mail and catalogs in my mailbox, and many of the companies that used to regularly market to me and my household have completely stopped. Broad scale advertising seems to have slowed, and many of these brands aren’t finding me online either.

Where have these companies gone?

Weathering the current economic storm does not mean your company and your brand should go dark to survive. In fact, this strategy is the quickest way to secure your company’s long-term demise. Now is the time for companies to embrace game-changing innovation as a means of survival. Seeking alternative strategies, new marketing channels, and new approaches to reaching prospects and customers will not only help drive revenue, but will help keep your employees engaged and challenged, as well.

Test Alternate Marketing Channels
Doing more with less is the key. Migrating from more expensive marketing tactics like a direct mail package to a postcard may not produce the results you need, but orchestrating a series of marketing tactics to work in sync may give you the results you need — with considerably less budget. Email alone will rarely replace the typical response of a direct mail piece, but used as a teaser or awareness touchpoint followed by a series of postcards, for example, may get you the same response with considerably less spend. Customer surveys and feedback can be another way to capture the attention of your customers and leave a brand impression while gathering valuable intelligence for future marketing efforts at the same time.

Introduce Viral and Social Campaigns
Social networks and online communities are expanding the marketing landscape and changing the way people communicate. Building strategies that leverage these mediums effectively could provide a lift in awareness with very little impact to the marketing budget. Launching viral campaigns provides the same effect, allowing customers to refer and share your content. We all know the value of a personal referral.

But social media isn’t everything, as some evangelists would have you believe; however, as an addition to an already established business model, value proposition, and sound marketing strategy, social media channels can be a valuable reinforcement to effectively bridge the widening gap in consumer communication preferences and styles. Social media alone cannot cause your business to grow, and expecting contrary may prove a costly gamble.

Leverage Partnerships
Strategic alliance partnerships have long been a part of most marketing plans, but they are playing an ever-increasing role as budgets have shrunk and customers are expecting a higher level of engagement and sophistication from the companies they interact with. Partnerships allow companies to provide timely and relevant offers in a more compelling and often more affordable package. They also allow complementary brands to present themselves in a succinct and convenient manner, which is more important every day as customers are short on time and overwhelmed by choices and information.

Regardless of your marketing mix, the key is to stay in front of your customers and provide relevant and valuable brand impressions in innovative and cost-effect ways. The companies that manage to maintain a dialogue even on a tight budget will be the ones that will benefit when consumer confidence and spending begins to rebound.