1. Facing an economic downturn can be daunting for any business. The UK is currently experiencing many economic challenges with experts predicting very low economic growth for the foreseeable future. When faced with these challenges, consumer confidence lowers and often the first thing businesses do is cut back on their marketing budget. However, we believe a downturn can actually present your business with several opportunities to connect with your customers and strengthen brand loyalty.

    We aren’t denying that it won’t be challenging. When times are tough the easiest thing to do is follow the trend and look at quick and easy places to cut your budget, which does tend to be the Marketing and PR budget. But this also poses a unique opportunity for you to promote your business whilst others aren’t. When other businesses go quiet you should do the opposite as it will be easier for you to get your marketing messages heard.

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  2. 1) Showcase the benefits of working with or buying from your business.

    This could be through a number of ways including: Quality - Highlight and focus on the quality of your products and services. Differentiate your brand from your competitors and shout about what makes you stand out from the crowd. Value - After all times are tough for your customers as well as you. Show them what solutions you can offer their business, how you can save them money and make things easier for them. Customers will be more price-sensitive so it’s crucial you highlight the value of the products or services you provide.

    2) Offer a discount or promotion.
    Bundle products together to offer a percentage discount on certain products. If you want to create more of a buzz then use a flash sale where you can offer a large discount but for a very short period. Or you might want to offer free postage as a way to entice customers to buy from you. Remember everyone loves a bargain!

    3) Shout about your exceptional customer service.
    If the marketplace is quiet, then your messages will be heard loud and clear. However, you don’t want to sound like you are bragging so look at making your messages authentic and effective. Use positive customer reviews to create case studies on your website and pick out quotes from happy customers and showcase them on social media or leaflets. Get creative and include some short customer videos in your email marketing – it doesn’t have to be expensive as videos from smart phones are great quality these days.

    4) Focus on existing customers.
    Have you heard of Pareto’s rule? This can be applied to many different aspects of business including marketing. It states that 80% of your results come from 20% of your efforts. So, it can relate to the fact that 20% of your customers generate 80% of your revenue. It’s more expensive to acquire new customers so focus on your current customers to see how you can encourage them to buy again from you. A loyalty programme may work well here or look at giving your existing customers exclusive access to new products or services you are offering. Make them feel special and looked after.

    5) Reassess your target audience.
    This is a good opportunity to sit back and have a think about your target customers and potentially identify new customer segments that may be emerging. By reassessing your audience, it will also help remind you of your existing customers’ needs and wants. It may also be an ideal time to connect with your local community.

    6) Look for creative and cost-effective ways to market your business.
    Flyers and leaflets are relatively inexpensive and work very well with direct marketing. Direct mail lets you communicate one-on-one with your target audience. That allows you to control who receives your message, when it’s delivered, what’s in the envelope and how many people you reach.

    Direct mail printing allows for personalised print for each individual, and as we have seen in many surveys, print is far wider read and is more likely to be stored in someone’s memory when compared to an email. Print is also more engaging, and a more appreciated medium for many clients, who are more likely to take action or trust something posted directly to them, than electronic mail. Read more here.

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  3. Top tip - Don’t forget to track your results.

    This will help you ensure you are heading in the right direction and will be useful so you can optimise any future campaigns to see what worked and what didn’t work. It will support you in ensuring you use your marketing budget more effectively in the future, especially when times are tough.