Marketing - Winning New Customers
Many are biting their nails during today's recessionary times.
Or what are perceived as recessionary times.
Our article is below: Understanding how to market in what is perceived as 'Recessionary' times and SURVIVE! In marketing for a business, be it large or small, whether the economy is good or bad, what people perceive as being the truth, rather than what one may objectively measure as the factual truth, is their reality! Consider this case history from England (Note: this is in the poorer North of England and is therefore all the more noteworthy).
A client with over £1million [nearly $2million] of real estate rented out with minimal loans outstanding - this success was achieved two years ago in the boom times and in the interim real estate prices have declined by up to 20% in the part of England where the property portfolio is located! Guess What! The £1million [nearly $2million] of real estate rented out with minimal loans outstanding is still there and yielding sound holiday rental income and with interest rates set to fall dramatically in 2009, the net returns are expected to increase despite the recessionary climate.
In addition, because fewer people are willing to risk travel costs in the current recessionary climate, occupancy rates [the percentage of time that the properties are rented out] are projected to increase.
All things considered, the recessionary threat has been addressed.
Key tips for marketing learnt from this case history: a.
In a recession minimize exposure to debt wherever possible; b.
Look at changes in the market place - in our case-history foreign travel declined due to this recession creating a marketing opportunity for a local provider of holiday letting accommodation leading to increased occupancy - the reverse of what logically you might expect! Such is the power of effective marketing and cost control in these recessionary times.
Our assessment in conclusion of this article is as follows: 1.
In recessions you must adjust your marketing communications during tough times.
However, be careful not to throw the baby with the bath water! 2.
There is not a single product or service that could not be repositioned in such a way as to boost sales for as long as the recession continues.
Until next time: Best regards.
Update March 10 2009 -Get Ready - more great stuff to follow soon!
Or what are perceived as recessionary times.
Our article is below: Understanding how to market in what is perceived as 'Recessionary' times and SURVIVE! In marketing for a business, be it large or small, whether the economy is good or bad, what people perceive as being the truth, rather than what one may objectively measure as the factual truth, is their reality! Consider this case history from England (Note: this is in the poorer North of England and is therefore all the more noteworthy).
A client with over £1million [nearly $2million] of real estate rented out with minimal loans outstanding - this success was achieved two years ago in the boom times and in the interim real estate prices have declined by up to 20% in the part of England where the property portfolio is located! Guess What! The £1million [nearly $2million] of real estate rented out with minimal loans outstanding is still there and yielding sound holiday rental income and with interest rates set to fall dramatically in 2009, the net returns are expected to increase despite the recessionary climate.
In addition, because fewer people are willing to risk travel costs in the current recessionary climate, occupancy rates [the percentage of time that the properties are rented out] are projected to increase.
All things considered, the recessionary threat has been addressed.
Key tips for marketing learnt from this case history: a.
In a recession minimize exposure to debt wherever possible; b.
Look at changes in the market place - in our case-history foreign travel declined due to this recession creating a marketing opportunity for a local provider of holiday letting accommodation leading to increased occupancy - the reverse of what logically you might expect! Such is the power of effective marketing and cost control in these recessionary times.
Our assessment in conclusion of this article is as follows: 1.
In recessions you must adjust your marketing communications during tough times.
However, be careful not to throw the baby with the bath water! 2.
There is not a single product or service that could not be repositioned in such a way as to boost sales for as long as the recession continues.
Until next time: Best regards.
Update March 10 2009 -Get Ready - more great stuff to follow soon!
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