Archive for marketing

What would happen if we were all invited to join in a recession, and nobody went?

Posted in Opinions & Comments, UK with tags , , on July 6, 2008 by Richard

During a slow-down or even a recession, the bulk of business continues to grow. Real global GDP has not shrunk year-on-year since comparable records began in the mid 20th century – even the final quarter of 2007 saw Eurozone GDP growth of 0.4 per cent. Businesses and households continue to function and to purchase goods and services needed to do so.

The marketing budget is often one of the first to be cut in a slow-down; and while this may help the bottom line now, it’s likely to have a negative effect on market share and profit in the longer term. So when your competitors are slashing their budgets, consider the fact that you have an opportunity to shine in the darkness.

Think about purchasing behaviour for a moment. During periods of slow growth, more pressure is exerted on suppliers to deliver value. Existing suppliers will be subject to increased scrutiny and switching suppliers is more likely.

An economic slow-down could be the time when your marketing budget can give you most bang-for-buck.
Sam walton created the worlds biggest retailer in Walmart. During the last slowdown, he had this to say, “Recession? I thought about it and decided not to take part“.

It’s important to realise that marketing messages may need to be refined in response to changed customer needs. For example, demonstrating that a product or service saves money for your clients may be more important. What’s more, if you maintain your market presence while others around you are cutting theirs, who will be in front of mind when customers are in a position to buy more?

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Putting Your Foot In It

Posted in Trivia, UK with tags , on April 18, 2008 by Richard

Getting your business profile up there is a challenge.
It’s a rocky road, and you’ll make a few mistakes.

Make a few mistakes??
Oh no…. we can’t do that.
Lets take our time, get it right first time, every time.
Mistakes are for losers.

Aren’t they?

Well, take a look at this article posted by the BBC no less.
It sems we may be wrong. Maybe getting a few mistakes into your marketing mix isn’t a bad thing after all.

A Challenge To Please

Posted in cold calling, Memory Hook Ideas, Promotional Gifts with tags , , , , , , , , on March 13, 2008 by Richard

I had a consultative meeting with a client today. They are a pest control company seeking to grow their business (aren’t we all?), and with a minimum budget to spend.

Their salesmen do the doorknocking thing… you know, ‘cold calling’. It’s as tough a job to do as any I care to think of. What they needed was something to open doors, to get past the gatekeeper, to be remembered (Memory Hook Marketing), and were asking me to suggest appropriate solutions….. we have over 50,000 promotional items, most of them on our web site, and all of them capable of being personalised to our clients own requirements, but which, if any, would match his requirements?

I know what I suggested… but what would you?

Proof of ROI from a Personalised Giveaway

Posted in Promotional Gifts, ROI - Return on Investment with tags , , , , , , , , , on March 4, 2008 by Richard

It’s not every day that I can give ‘real’ proof of Return On Investment (ROI) for a customer, but today I can!!

When I first met this particular customer what he was asking for was a quality metal keyring, or maybe a leather one. Now, maybe I should have taken the money and ran, but I didn’t, I questioned him to inform me exactly:

  1. WHAT he was going to do with them?
  2. WHO he was going to give them to?
  3. HOW he was going to give them away?
  4. WHAT did he want his targets to feel when they received the giveaway?

It was only when I fully understood the answers to all of these questions, that I felt able to advise him….. he was about to buy the WRONG product…. what he really needed was something much CHEAPER, and not made from either metal or leather, but PLASTIC. What he needed was some imprinted keyfob loops.

Imprinted keyfob loops

He spent, probably £150 with me, and keeps coming back for more and more.

When I was visiting him at his offices the other week, he took an order off of his internet site for £400 of motorcycle spares, all because one of his little cheap, plastic, logo keyfobs was used to keep the spare motorcycle keys on, and when the bike was sold on, the new owner contacted him to see about ordering some equipment. Without the keyfob, there was no other way for him to have done that.

£400 for a 35p keyring. Now thats what I call a Return On Investment.

We’ve used these same budget keyfobs with the following businesses, who all keep coming back for more, as they bring results:

  • Mortgage brokers
  • Real Estate Developers
  • Charities
  • Restaurants
  • Building Contractors
  • Insurance Brokers
  • Tax Advisors

Whats the best return you have ever had from a promotional gift?