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Looking for a Survival Plan
for 2010 – 2011? Help is Here.

Marketing Survival 101

At the minimum, your survival plan should include three strategies: customer retention; new business development; keeping your brand alive. Even with a limited marcom budget, you can hold your own -- and then some. There’s a method to this. Read on; your time will not be wasted…

Surviving in a down economy

The companies that survive (maybe even prosper) in a sluggish economy are those which know how to cut costs yet stay afloat – while at the same time maintaining a focus on what’s really important.

What’s important

Cash flow, of course. Making do with less. And strategy.

Strategy?

You strategize all the time when things are tough, even though you may not realize it. Your objective is to keep the doors open. Your strategy is to cut corners – and you find ways to do that (these are your tactics).

What does this have to do with marketing?

Business owners and executives usually view marketing as "advertising", and advertising is often the first thing to be cut when the economy gets bad. But marketing is not advertising.

Marketing is about strategy – and strategy is FREE*

Strategy is thinking, planning. Marketing strategy is finding ways to hold on to what you’ve got (your customers) while finding ways to bring more revenue in the door (getting new customers).

*OK, strategy development won’t be free if you seek the help of a b-to-b marketing expert – but it is a good investment.

So here’s your marketing survival plan

We’re simplifying things here – and every case is different – but at the minimum your 2010 – 2011 marketing survival plan should look something like this:

STEP 1: YOUR MARKETING OBJECTIVES

Customer retention should be on your list: providing added value to existing customers so they stick with you, and refer you to others
Uncovering new business
Making sure people don’t forget about your brand

You need to lock yourself away for a bit to write out your objectives – this is very important. Keep them tight, focused, attainable.

STEP 2: YOUR MARKETING STRATEGIES

Here are some examples of assigning strategies to the above three objectives. Strategies are broad methods, not specific tasks (tasks are addressed below). You can probably arrive at these strategies on your own – or you may want to get outside help.

Keep your strategies tight, and focused on your objectives, such as:

Your strategies for customer retention / added value may include keeping in close touch with your customers and offering them ideas and solutions to help them solve problems – at little or no cost to them.
Your strategies for uncovering new business may include low-cost research on your competitors and on your prospects’ needs, and a way to keep in touch with prospects while offering them things they would not expect; things of value.
Your strategies for making sure people don’t forget about your brand may include a better online presence, a tighter branding message (one that truly that sets you apart) and some form of low-cost, ongoing communication with prospects and customers alike.

STEP 3: YOUR TACTICS

This is where you will need to get help from a marketing expert – whether it’s an inside person or an outside firm. Why? Because tactics are changing all the time and you’ll need an expert who is on top of things – this way you’ll employ the tactics that not only make the most sense (in supporting your strategies) but you’ll also take advantage of the most cost effective and measurable tactics available today (most of which are e-based.)

The strategy examples listed above focus on customer retention, new business development and keeping your brand alive. Let’s first look at some incredibly low-cost (but strategic) tactics:

Low-cost tactics

Tactics that would likely support your strategies include ones that can be done in house at very low cost, such as building a better database / contact management system, touching your customers with friendly phone calls, research on your competitors, eliciting testimonials, research on the challenges that customers are facing today (challenges that are probably the same that your prospects face), brainstorming on what value-added services or products you can offer customers, even a personal letter from the president that gives your customers peace of mind. You see how some things can be "free" or almost free?

Now let’s look at some tactics that, while not free, are low cost as compared to marketing tactics of just a few years ago (when you relied on trade magazines, brochures and literature, trade shows and direct mail).

Search engine optimization, or SEO (a must, and usually misunderstood)
Pay per click advertising, or PPC, where you can establish a nominal daily budget (but you do have to know how to write, test and analyze your ads, and create relevant landing pages on your website)
E-mail marketing; either simple messages or a monthly e-news (leverages your database and keeps your brand alive)
E-based press releases (low cost, good for SEO and lead generation and for launching new products)
E-based "literature" and selling tools, downloadable (saves a lot of print costs; easy to update)
Blogs (yes, these are valuable, as are other "social" tactics, because they add to your SEO and provide a place for customers and prospects to get valuable information)
Direct mail (yes, still alive, and if done correctly will complement e-based tactics to generate sales leads)
Event marketing (there’s nothing like a memorable event for your customers)
User group meetings where your customers can exchange information, ideas, challenges (and where you can gather valuable research)
A review of your "unique selling proposition" – what sets you apart – so that your sales and marketing messaging better resonates with your target audience (here you may need some outside help)
A review of your identity and creative approaches (ties in with above)

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