Five Top Tips To Recession Proof Your Business Marketing
01 Jun 2020
Business Marketing Advice
Businesses across the UK and the World are bracing for impact of covid19, some will get wiped out, some will have the surf of their lifetime. Like riding a wave, it all comes down to how you catch it- or in this case, how it catches you.
Article by Kieran Perry - Business Advisor
Tip 1: Make sure your brand is browsable
Companies who will win big out of this crisis are those focusing all their efforts on building a “browsable” brand- not brands that want to sell, but ones that want attention.
Tip 2: Get your users to build a habit
There is a common agreement that says it takes between 21 and 66 days to develop a habit. After 21, 35, or 66 days, users will feel they are missing something when they don’t interact with it.
Habits are a marketer’s best dream:
- They override rational and conscious decision-making
- They build retention and life-time value
- They are hard to break
If you are a marketer or founder your most important question to action this week is: how can I induce my target audience to get into a habit around my brand or product?
Tip 3: Build audiences
Marketing produces only one type of asset: targeted audiences. What does that mean? First, you build an audience. Then, you start selling.
In other words, building an audience today, during this whole COVID-19 pandemic when people are bored at home, it is much easier than it was before. Provide free value to those people out there, and get them to subscribe to your email list in exchange- then, in 3-6 months, you then go for the sale.
The outcome? It is very practical: an excel sheet with people’s first name, last name, phone number, and email, an increased social media following. The more you grow these list and engagement now, the bigger the potential buying audience you will have available in the future.
Tip 4: Obsess about churn or burn rate
What is a sales & marketing Churn – it is the annual percentage rate at which customers stop subscribing or buying.
BY now, you probably got the idea now – no quick fixes . But you may ask: “I’ve got three months of runway. If I don’t get cash in, my business will shut its doors 90 days from now. Why are we even talking about content??”
I agree. Retention is the new acquisition. But high churn rates / loss of interested customers and hits to your website will bleed out your business too.
- Build super relevant content for similar audiences
- Get a pulse of how the market is shifting
- Increase top-of-mind awareness
Follow up with automated messages- then, make an offer. Spend hours, even days if needed, on the phone with customers.
Tip 5: Time to partner up
Entrepreneurs tend to be insular- it’s now time to break the silo! Get out there.
This crisis is unprecedented, so instead of a tweet saying “I smashing it even during COVID-19” just to fake-it-until-you-make-it, reach out to other founders.
They are all in the same situation worldwide. So, now, it’s time to partner up to find common solutions.
If you had a perfect business partner that was inaccessible in the past, now that same partnership might not be only a dream anymore.
Business Consultant Advisory Services And Leadership Development Advice
For those seeking sales help, Kieran Perry is an excellent choice with online sales coaching and training sessions available. Follow him on Instagram to learn more about his services.
His services include independent business advice, business coaching, sales training, executive mentoring and management consultancy to business owners, directors, start-ups and individuals across the UK and online. To read more on his business advice view his Blog for more business strategies, or see his Pricing, or Reviews . Follow Kieran on Instagram.
Five Top Tips To Recession Proof Your Business Marketing
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