When sales decline, budgets tighten and typically, the first area to be scrutinized for cutback is promotion and marketing. Part of the magic of marketing is the ability to create perception. Businesses must create and maintain a perception that they are critical, viable and resilient.
An example of this is your local auto dealership. Even when sales are in a slump, they continue to run weekly ads in local newspapers. Why? To maintain their customers’ perception that things are just fine. Of course the automobile is an intricate part of the American psyche. Give the perception that the local automobile dealership isn’t viable and the ripple effect can reach far and wide.
If your business wasn’t perceived as resilient, what would your customers likely do? Keeping customers aware of your products, services and existence is crucial especially during tough times. When the situation improves, you’ll be clearly visible as the “go to” resource that is ready to meet the customer’s needs.
We’re not advocating a continuation of a full speed ahead, spare the expense approach. You will have to adjust and tweak to work within a leaner budget. With the right strategic mix, the perception can be maintained that you are viable and ready to serve. Do not let your customers lose sight of your business. What’s the saying,”Out of sight out of mind.”
Remember that your customers’ perception of you IS your brand. Your brand image is far more than your logo, store front, and marketing collateral. It’s how your customers and potential customers perceive everything about your business.
So when the budget belt tightens, a sound marketing strategy is key to both short and long term business goals. Perception can work for or against your company. Make sure to keep it working for you.
Can you afford not to?
Dan Waldron says
Great Blog post. I am going to bookmark and read more often. I love the Blog template