There Is Always Opportunity, Even In A Recession
……Earning the consumer’s trust is critical……
Recently I had a conversation with Mop Prime, Partner and Creative Director of Smith-Felver & Prime, Ltd., about taking marketing strategies for my business, Superior Woodcraft, to a higher level. The world has changed considerably since 1967, when Superior opened its doors. We try to stay up with the times, but lately it seems like the world is changing so quickly and I want to make sure our marketing efforts stay current. I wanted to get an expert’s opinion on marketing in today’s world so I turned to Smith-Felver & Prime for some input. Below are some excerpts from our conversation.
1. 40 years ago Superior Woodcraft utilized newspaper ads to help promote our products, but now readership levels are down. What is the best way to reach today’s consumers?
“No question here, Patrick. I recommend my clients put at least 70% of their marketing budgets into online presence: web development and online promotions, ongoing and relevant content, testing through landing pages, SEO and social networking. Remember, 40 years ago the consumer was told what they were supposed to believe. Today it is all about the dialogue between a company and its consumer.”
2. What is the consumer looking for in this recession and how do I market to that need?
“Pent-up demand is a real factor right now and many consumers feel they cannot put off certain purchases. The recent uptick in holiday sales are testament to that. Here is the kicker: Consumers are adapting to the recession and looking at other ways to placate their needs. The savvy marketer must be flexible and be ready to take advantage of the recession. Here are two examples of consumer needs that are arising out of the recession: Prospective home buyers putting off the purchase of a bigger home are now opting to remodel the kitchen or bath in their present home. Tech repair companies have staff working overtime because consumers are having their computers, copiers and other office equipment repaired rather than buying new.”
3. Budgets are tight in this recession how do I market on a tight budget?
“Utilize social networking. It is free. It takes time to learn all the ins and outs, but everything takes time to learn.”
Stay visible. Do not hide out and hope the bad times will go away. Keep your website up-to-date, become involved in your Chamber of Commerce, community and professional organizations. like the Doylestown Business & Community Alliance, and face-to-face referral groups like LeTip International. Those who take a leading position in these organizations get a much higher referral rate.
Utilize Vocus/PR Web – Small Business Edition. Good PR feeds the web crawlers. Vocus does a great job and has incredible customer support.
Thanks to Patrick Kennedy, Independent We Stand, and Mop Prime for their contributions to the Pro Shop. We hope these tips help you jump-start the New Year with productive strategies for your business. Happy New Year!
Comments
Thanks for the info. Very helpful!
[email protected]
http://www.bartleycollection.com
You're welcome Bob. Let us know what works best for you. The feedback can help all of us. Best wishes for a strong 2011!
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