What is needed in a recession or any other time is smart marketing. Also marketing is not just about advertising. One could cut the advertising budget but still come up with clever marketing initiatives around say price or packaging. Offers such as bundle pricing for companies, and also launching smaller pack sizes to get more people at the lower end of the market. Partnering with retail outlets to offer value say ‘ or this weekend only’ price downs could be useful. This is what really lacks not just in a recession. Good ideas.The result is that marketing suffers in a recession. Coming up with smart measurable ideas that need not cost lots of money is what will make business owners respect marketing not defending it.
You might have a direct mailer made for you with a bonus included from another company such as: A dentist mailing out a birthday card to their clients with a coupon for a free flower at a local flower shop. This is a great marketing bundle as the dentist is making the patient feel special by having a birthday card mailed, and the flower shop just got a possible new customer coming through their door with the coupon. Have the partnering company pay a percentage of the cost of the mailing, as it is advertising for them also. Massage Therapist can be a stress reliever for those that find going to a dentist, and or attorney a stressful visit.
Recently I met with a company that does senior respite care, and suggested they could market travel agencies. There are many baby boomers out there that want to and do take care of their parents, but need a break, or have to travel for work. Senior care for those times are so important, as you want to know your loved ones are taken care of when you want and or need to be away. One of their clients actually schedules a break from their aging parent that lives with them. So the senior care company could partner with a hotel to give a discount to the caregiver that needs the break.
Partnering up for your marketing can help your marketing budget bottom line, and build possibly two businesses at once. Who do you know that you could partner up with? You might be surprised at who you could partner with that is needing the same as you, but just hadn’t thought about the opportunities available.
