What should your marketing message be in a recession?

A recession is a period of low economic activity over several months. During this time, most consumers are forced to change their regular spending habits to focus on essential purchases only like housing, food, and bills.

Businesses also face significant declines in sales and profits. Therefore, they must change their marketing message during a recession to reflect the new environment where consumers are more cautious about their purchases. Read on for some practical tips on what your marketing message should be in a recession.

Reassert your quality

Ensuring your brand stays in your consumers’ minds during a recession will help build awareness and loyalty and may lead to better sales. Reaffirming your quality will increase the trust of your consumers, making your business more appealing.

There are several ways to reassert your quality and communicate your brand strengths. Example include:

• Case studies: Conducting case studies gives customers a holistic review of your products or services and gives them a better understanding of what you offer.
• Testimonials: Customers like to deal with credible businesses, and testimonials help provide valuable proof of the quality of your services.
• Stay visible: Steady communication during a recession will also improve brand strength.

Demonstrate your authority

Content marketing offers the perfect platform to build brand authority and credibility. You can improve your brand’s legitimacy by consistently showing that you are an expert within your field. That means sharing useful information, tips, tricks, guides, etc. Here are a few ways to boost your brand authority:

• Identify and answer critical questions about your services or products
• Create comprehensive, newsworthy reports and studies to deliver new insights
• Create captivating, helpful graphics to grab your audience’s attention
• Consistently create articles that deliver valuable information to your audience
• Consider using long-form web content to offer content that is rich with useful information

Differentiate your brand

Communicating your USP in your marketing message during a recession ensures you can still get clients despite the low-performing economy. A USP or unique selling point is the feature that makes your product unique and helpful to your audience. A compelling USP tells your consumers that your firm offers better value than similar companies in the same market. Here are some necessary steps when developing a USP for your company:

• Define the target market and establish what your target consumers want
• Identify key features that make your service or product unique
• Ensure your USP underlines the key benefits of your products in a manner that attracts your target consumers
• Make the USP concise
• Promote your USP by including it in all your marketing content

• Establish targeted brand awareness campaigns
• Socialise with consumers on social media by commenting, asking questions, and sharing content
• Focus on the social networking platforms your target audiences use most
• Partner with influencers and complementary brands

Offers as a marketing message

Discounts and offers are synonymous with poor-performing economies as businesses try to improve their sales. Since consumers are keen on saving finances during such times, their purchase decisions will be highly influenced by price. Hence, offering discounts to various customer segments makes sense to maintain profitability. Also, it would help to see where you can add value to your product or service.

• Here are a few types of offers:
• Sign-up or free trial offers
• Offers based on getting extended contracts with the company
• Service or product bundling offers
• Loyalty offers

Explain your value

Value-focused marketing puts your consumer’s needs at the forefront and pairs your solution’s ability to address those needs effectively. Explaining your value proves that your fully understand your consumers and have the necessary resources to assist them. For value-focused marketing plans to work, it is vital to determine that value based on your consumer’s viewpoint. Here are the primary value types to consider:

• Functional value: It involves the physical or practical performance of your services or products
• Economic value: This metric involves the economic or financial value that a solution delivers to your target users
• Social value: This value type is linked to how paying for a certain service or product helps consumers connect or interact with others.
• Psychological value: This value appeals to the audience’s needs or wants and can make them feel good about buying your product

Prepare for recovery

Past recessions show that companies that survive poor economic environments can become more profitable and resilient once the recession ends. That is because of less competition, significant efficiency savings, and a larger market share. It is necessary to take proactive steps during a recession to acquire and nurture new leads in readiness for increased sales once the economy recovers.

Read More: Why is SEO important for business?

Consider using the following non-sales acquisition strategies that also build trust and awareness:

• Webinars: Webinars allow businesses to share valuable, educational, and helpful content remotely
• Podcasts: Even though there is plenty of competition in the podcast space, you can attract a sizeable following if you produce quality content
• Newsletter: Email campaigns and newsletters can offer advice, tips, and other informative content to keep your audience engaged

Conclusion

Even though a recession is linked with adverse effects, it can present a chance for significant business growth. Use the tips above to polish your marketing message and continue getting clients even when the economy is performing poorly. Focus on value, efficiency, and better communication with your clients to boost brand awareness and ensure your business continues to thrive.

Categories