Sales and Marketing

FREE Business Tips

In this article from Business Link on sales and marketing, you'll find panic free tips for surviving tough times, and forward-thinking advice on how to build better businesses.

Maintain Sales and Marketing

Research indicates that maintaining or increasing marketing during a recession can aid survival and drive long-term success. During the 1980s recession, for instance, a study found that businesses which increased marketing spend saw twice the sales growth of companies that curbed activity.

Rethink Sales and Marketing

When considering a purchase, we compare cost to the collection of benefits and values we would receive in return. Such judgements are often based on the marketing messages placed before us.

The ‘customer value proposition’ you present to potential customers is an important part of marketing. And right now it is crucial that businesses rethink it. Why? Because the values that your audience deem to be important might be changing.

During a recession, factors such as value for money, running costs or longevity may be prominent
considerations. But additional factors could also be important; for example, research suggests that
environmentally friendly companies are becoming more popular, with some individuals willing to spend more on green brands even during the recession. If your customers’ needs change, rethink your marketing messages to strike the right chords.

Think for your customers. What would they value? Perhaps you could package products or services together; think ‘starter packs’ and ‘meal deals’.

Or maybe your loyal customers would value easier ways to re-purchase from you? Also consider segmenting customers into groups to profile and target more defined audiences.

Consider new approaches to get your message across. Today the Internet is crucial; think about how consumers go online to find, compare and purchase products and services. Is your website attracting traffic? Are you working to increase your prominence on search engines? Explore online advertising, viral or email marketing.

And remember, the web is not just about online retail; for example, restaurants successfully use online vouchers to virally promote off-line services. Finally, reconsider traditional communications media such as direct mail or telemarketing.

Checklist for Sales and Marketing

1. Maintain your presence in the market - do not cut yourself off from current and potential new business.
2. Focus on your core business. Don’t make radical changes to marketing strategies - adapt to
3. the conditions.
4. What do your customers define as value for money? What gives you the edge over competition?
5. Meet customers’ needs by continuously checking your offer is exactly what they want.
6. Evaluate your products and services. What level of profit does each make? Which makes the most and which the least? Can you cut loss makers?
7. Is your website effective and upto-date?
8. Call customers who have not been active for a while.
9. Critique sales teams and make changes if necessary.

This article was supplied by Business Link
The guide is part of a wider package of services designed to help businesses survive the economic downturn and ultimately build stronger businesses that are capable of seizing future opportunities. We hope that you find this guide useful. Email: creative@businesslinksw.co.uk  

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