Nov 23, 2010

Smart Branding in Recession Period

Firstly, Niche the target markets to make the best use of a reduced marketing budget, tightly define best target markets and focus on marketing strategy for them. It is much less costly to market and advertise into a defined market segment like a vertical market than on a broad market. If one runs advertising its media costs will be a fraction of what they were in trying to reach a broader market. It is also easier to get stories and articles placed in vertical-market publications of its experiences. Redevelop message for customers. Once one has focused on its best markets, make sure the message they hear is the right one. Simplify and hone the message specifically for that target markets. Leave behind the generalities. They never helped anyway so now is the time to edit it. Make sure one’s all marketing strategies copy primary message and reinforces the brand image. Make sure about telling them the main benefits. And make sure to tell them in a way that makes sense to their goals. Customers should feel it relevant to them.
For Smart Branding, Tune up Web presence. Make sure the Web site is up to date and makes the right impression on visitors. Prospects may be fewer, but they are still buying, and that process starts on the Web. If a company tends to say, "We have a Web site, but we're not sure it's doing anything for us," that is a danger sign! One’s proper web presence brings a lot of business to the company. In tuning-up, make sure the Web site does three things. First, it should help prospects find one’s web site through an Internet search. Second, site must do a great job presenting all brands online. This is often the first experience people have with the company and want them to get the right impression about the company and the value of the brand. Third, it must explain all products or service's features and benefits from the prospects' perspective. Decision Points
Be reliable through media. Make sure that Web site, literature, advertising, presentations and all are callously consistent. Instead of making a positive brand impression the lack of consistency creates uncertainty which both dilutes the brand and throws a wrench into the decision process while purchasing. Find opportunities in new markets as time lapses. It will support the second brand by leveraging from first brand. Make marketing dual purpose, traditionally; marketing has usually been either aimed primarily at immediate sales or at brand building. Brand advertising is principally meant to reinforce the brand image of the company or product and build its perceived worth. To save on costs make sure that the marketing and advertising does both functions brand and sales oriented. It’s a bit tricky but entirely doable. Don't be a cut-rate king. When business is off it is tempting to slash prices to boost sales. It may, in fact, be necessary to lower prices. Just be very careful how one can do it. Again, don’t let short-term thinking jeopardize business long-term prospects. The Gift
If one think so that marketing becomes all about cutting sale prices and it is how one become known in down times it is also better to know that the perceived value of products or services is diminished in such strategies. And don't forget, perception is reality. When business picks up again, one may well find that the only way to maintain good sales is to continue offering hefty discounts. Thus short-term tactic ends up in making business the discount brand. Instead, if one continues to emphasize its main selling proposition and reinforce the value of what business offer, then, one can promote it by, “we are offering our widgets at a special price right now.” With this strategy one can continuously to strengthen its brand while boosting current sales.

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