Marketing in Difficult Times – Double Down

Since the beginning of the pandemic, I’ve touched a time or two on marketing philosophies. One of those is that even the darkest of times, it’s helpful to find a bright spot…either find one, or create one. 

You and your team are surely already over-performing on many fronts, maintaining your accounts, and striving to perform for and keep existing clients, as well as fill your new business pipeline. As importantly, you’re making adjustments to your products and services and how you deliver them. At the same time, you’re working hard to reassure and thank your team for all of their efforts. 

As a partner in marketing for many clients, we are doing the same, and I’d like to share some of what we know to be true and effective in that realm.

  • There’s no better time than in difficult times to market your firm. Competitors have cut their budgets, and many marketing channels are not as cluttered with messages. It’s simply easier to “cut through.” At the same time, there are bargains to be had. One of our clients had been eying a particular billboard at $2,500/month. Last month, we were able to negotiate that billboard for $750/month, because of a flurry of advertising cancellations. Their message is now getting out, and they have been able to tie new customers to seeing and acting on that board’s message.
  • Other clients have shifted more of their marketing budgets to online/digital efforts. With more people working online, those targeted audiences can be reached more often and cost-effectively. With a mix of platforms, we’re able to target specific industries and audiences like never before.
  • Paid advertising isn’t the only way to maximize your presence, of course. With the written word (articles, blogs, interviews, and public relations), you can position yourself and your firm as a thought leader and expert in what you do. Upgrading your website and social media landing pages with meaningful content and posts helps to build your presence, and ultimately, attract new business.

As you march forward through the times we’re in, seek the bright spots for your business, your team members, and your long-term success. Let what you do today, in part, create your tomorrow. 

Quote of the week:

Businesses that maintained or increased their ad spend during the recession averaged higher sales growth both during the recession and in the following three years.

Professor Andrew J. Razeghi
(at the Kellogg School of Management, citing a McGraw-Hill Research study of over 600 businesses)