Rarely do I have time to sit back and watch TV but recently during some of my downtime I flipped on the tube and saw a commercial for a car manufacturer. As you know the vehicle manufacturing industry has been hit particularly hard because of the current economy, dealerships are closing, people losing their jobs, and hoping for government bailouts. You’d think with all the commotion you’d be seeing a lot less effort focused on marketing, but one company is standing out with a marketing campaign that’s using a strategy that involves the tough times families are facing. They are using the economy to their advantage.
These are the strategies you need to focus on especially if you’re in an industry that’s feeling the pinch of the current economy. You’ve got to zero in on the reasons why people need your product or services — and communicate clearly. Don’t put focus on why they can’t afford it or shouldn’t buy something. Redirect people with the reasons why now is the best time to be your customer.
This is a great time to re-evaluate every angle of your business and concentrate on new opportunities or even revisit practices that have worked in the past. Shift and adjust your marketing where necessary and track your results.
The very worst thing you can do is to get caught up in the “Woe is me…” syndrome, however, now more than ever you’ve got to shut out negative thinking. If you’re stuck in a cycle of negativity you won’t be open to new opportunities.
Successful entrepreneurs think of ways to use this economy as leverage. You should be asking yourself…
What can I do differently?
How can I repackage my products or services for a stronger value?
Who can benefit most from what I do?
What does my client base need because of the economy?
Do you see where I’m going with this?
Times like these call for outside of the box thinking. If things are slow for you this is not the time to cut your marketing budgets down, on the contrary you’ve got to beef up your strategy and get out there and make it happen.
If money is tight it’s time to think old school think person to person marketing, networking, and good old fashioned pounding the pavement. If you want to succeed sometimes you not only have to work harder than the next guy you’ve got to work smarter.
If you keep your eyes and minds open you will start to see the opportunities around you. If you find yourself fresh out of ideas become involved with your community. Find out what is working for your colleagues. Stay on track by researching your competitors.
Be in a cycle of continuous learning.