The current climate may already have had an impact on your business, but
SMART BUSINESSES KEEP MARKETING during economic downturns. One of the biggest mistakes business owners make during periods of economic slowdown is to cut back on marketing and advertising. Instead the marketing efforts now need to be more focused. The relationships you have with your customers matter even more.
In an environment where prices are being slashed, email is a low cost way to keep your brand and your product offerings in front of customers and prospects. That being said, there are better ways to use email in a downturn.
You need to employ a strategy that will make every email count. Don't simply increase the frequency of your emailing. This will only lead to more unsubscribes, list fatigue, less clicks and maybe even less revenue. So here's what we suggest...
The formula for success is simple, consider these ideas:
1. Get the tone right, but don't over complicate.
In a down turn consumers and business professionals are worried about budgets and job security. Fear is a great motivator. We don't suggest you stoke that fear, but acknowledge it by creating resonating messages and offerings that speak to it. Your customers' needs are different now, so pay special attention to those needs and position your products and services in a way that connects with them amid the current economic reality. Reward loyalty, show your customers that you understand, show them that they matter to you, and in return they will support you.
2. Diversify your offering and add value.
In a weak economy, diversification may be your business' best friend. Work with partners to expand your offering.
Offer discounts, freebies, or other extras as incentives. Consider an affiliate or referral reward program for clients who help bring you clients. Consider how your products are packaged. Do your customers want smaller or larger volumes? Can you help by pairing up certain products with another? With a little innovative thinking you should be able to develop several "new" offers.
3. Integrate channels.
Use email to continue or start a conversation. The conversation can start through a direct mail piece or a telephone campaign and continue with an email. Or starting with an email you can continue in a social medium - a discussion forum, a Facebook Wall or a micro-blog series of Tweets from your board room or production floor.
4. Ensure deliverability, reach the inbox and break through.
Due to its cost-effectiveness it is forecast that the recession pressure will significantly increase the amount of emails sent. In response, ISPs may become even more aggressive with their throttling and filtering. Make sure you have permission from your clients and pay attention to your complaint ratios. And if you're buying in a database, make sure your supplier complies with the Direct Marketing Association and Data Protection Act guidelines. Be aware of your subject lines because even if you get into the inbox you will have lots of competition.
5. Customer service and feedback.
Ask for feedback in every email and after every ecommerce purchase. Make it a goal of your sales team to pay attention to and gather insights into that feedback and then be sure to communicate it back to the client and the organization. If you are truly interested in helping your customers and respect the time customers take to communicate their needs, you will be strengthening the relationships that will get you through the coming months.
6. Celebrate flexible terms.
Make it clear if you offer delayed billing, loyalty points or higher service for certain order sizes or frequency of purchase.
7. Thank your customers.
Provide tips or coupons to good customers and new buyers. This is a great chance to encourage them to tell their friends, too.
8. Don't overmail or undermail.
If you have lapsed or disengaged lists, now is NOT the time to dust them off and start sending to them again. You shouldn't throw them away either, but if you are going to send to it make sure it's a campaign focused specifically for them. Customers you send to regularly and those who haven't heard from your company in a long while cannot be treated the same. Consider even further segmenting your list into those that always open your emails and those that do so occasionally. You can then target communications and offers to these different groups.
9. Don't forget segmentation.
Test which groups respond to which promotions and adjust your email campaigns appropriately. After all, you don't want to waste your least-profitable offers on fanatics who will respond to deals that are more lucrative from the brand's perspective.
10. Make it legal
Maintaining your brand's integrity is vital. Make sure your emails are delivered in line with current legislation with an unsubscribe process and with the Subject Line accurately reflecting the subject, purpose and content of the message. Each of your messages should also include the company registration number, country of registration, full postal and telephone contact details.
These strategies take discipline, but they are what separate the smart marketers from the rest. If you haven't started shifting your focus from generic blanket email messages then
now is the time.
To find out how we can help with your next email campaign call us now on 0845 838 5380 or
>>click here to Request a Quote.