by Kirby Hasseman
We know that life is filled with different seasons. Sometimes we live through a season where things are going well…and sometimes not so much. From an economic perspective, this feels like one of those “not so much” times. While I don’t want to over-react and start using the “R” word, I think it’s safe to say we are in an economic downturn. Inflation is a big concern across all sectors, the supply chain is still not back together, and interest rates have risen quickly.
So what do we do now? How do we market in an economic downturn?
While economic downturns are challenging, plenty of companies thrive in them. While the competition and the market panics, these companies seem to not only weather the storm but come out on the other side with a stronger boat (or umbrella…you get the metaphor). Here are some strategies to market your organization in a challenging economic time.
Keep Your Customers Close
When it comes to marketing in tough times, keeping your current clients is job 1. The best organizations take care of their customers all of the time…but especially in tough times. One simple way to do this is to show them appreciation. Studies will tell us that 69% of customers that leave you will do so because of “perceived indifference.” They leave because they don’t think you care! Creating an ongoing system of appreciation is a great way to let your top clients (you know, the top 20%) that you value them and their business.
I say ongoing because it’s not just a one-time thing! Customers are hit with thousands of advertising images a day. By showing appreciation consistently, your organization is able to fight through that clutter and create real relationships that stand the test of time. One way to help customers become a strong member of the tribe is to provide them with quality branded merchandise. The immediate impact is powerful and long-lasting.
Action Step: Create a quarterly appreciation program to consistently thank your top 20% of clients.
Grow With Those Clients
Studies will tell you that it’s easier to get a current client to buy from you than a new one. They already trust you. And yet so many organizations spend all of their time and resources on mining for new customers. New customers are vital of course (and we will get to that), offering your product to your current client base is often the best way to spur sales. Make sure you create campaigns with current clients in mind…especially in tough times.
Action Step: Create a VIP deal for your current clients. Not only will it make them feel special, but it will likely drive sales as well!
Make Your Prospects Targeted
If you want to grow your business, you will need new customers. But during an economic downturn is not the time to do a shotgun blast approach. “If everyone is your customer, no one is your customer.” Now is the time to get hyper-focused on who you want to serve. This will allow you to be more creative and more valuable to your partners during this time. This doesn’t mean you need to get rid of your current customers! It just means that when you are using marketing dollars and resources, you are crafting them to a much narrower audience.
Action Step: Create a niche that you want to target and serve in your marketing and start to create a plan to tell your story to them.
Focus On “Owned” Media
When it comes to marketing your organization, you can rent media or you can own it. Most of us are familiar (and comfortable) with rented media. The radio station “owns” the audience. We pay them for access to that audience for a brief window in time. We rent that media. The same is true for all traditional media. And make no mistake, the same is true for social media. They own those audiences. Even if Facebook makes it feel like the followers are ours, they are not. That is still rented media.
Owned media is the audience that has opted in to hear from us. This is your email or text list. These people have raised their hand and signed up for a newsletter, downloaded a book, or joined your tribe on purpose. You “own” this audience and you get to decide what and when you send them communications. This list is incredibly valuable to your organization and is a powerful tool for marketing during a challenging time.
Pro-tip: Make sure you are adding value through your list…not just barraging them with ads. Remember, they can unsubscribe!
Action Step: Start to create new ways for people to join your “list.” Once you have an “owned audience,” create a schedule of regular communications you send out that adds them value and communicates your value.
Create Content That Adds Value
Adding value is always a great strategy, but especially now. One powerful way to add value to your prospects and customers (and drive traffic to your website) is to create content. This is a wonderful time to create a blog, video series, or podcast that is hosted on your website. We certainly do our best to do that. One of the best ways to get started is to simply create content around what your clients are already asking you. Make a list of the top 5 or 10 questions you (and your team) get asked every day. Now…create a piece of content that thoroughly answers that. This is a great way to add value, drive traffic to your site, and ask them to join your tribe. You can join our tribe here by the way.
Action Step: Start (or re-start) to create content that serves your client.
See The People
Some of the best sales advice I ever got was very early in my career. “When in doubt, go and see the people.” In sales, it is incredibly easy to sit behind your desk and wait for the phone to ring. And when times are rocking, this seems to work. But in an economic downturn, you have to be proactive. You can’t just sit back and wait for customers to come to you. This is the time to go on offense. It might mean upping your social media game, attending conferences where your customers go (read this if you are going to do that), or even just getting out of the office and going to physically “see” your customers.
Action Step: Create a strategy to get out of the office and go to where your customers are.
Increase Your Marketing
Of course, the marketing guy says this, right?
But here’s the thing. During economic squeezes, most people react in fear and retract. The boldest companies dare to do the opposite. Now is a time to invest and look to gain market share while your competitors are afraid to stick their heads out and see their shadow. This doesn’t mean throwing money around irresponsibly. That’s why this is the last tip. If you follow the advice of creating value, focusing on a targeted market, and growing your current client base, you can do this effectively.
At a recent conference, I listened to Dean Graziosi talk about the economic downturn and his advice was simple. “Whatever you planned to spend on marketing this year…double it.”
Update: One place to focus on your marketing is on video. Here are 10 videos we think every growing organization needs to consider.
Action Tip: While your competitors cut back, look for ways to wisely increase your efforts.
Bonus: Invest In Your Team
“Nothing kills a bad business faster than good marketing.” For real. There is no sense in investing in a great marketing campaign in order to send your prospect or customer to a frustrated employee. The experience will do nothing but chase a good lead away forever.
Now is a great time to make sure your team knows you appreciate them. I talk in detail here about how to build appreciation into each day. But suffice it to say, if you are building a tribe with your customers, make sure your team feels a part of it!
Action Tip: Create internal branded merchandise that the team actually wants to wear! It doesn’t need to have a logo on the front. Connect it to the mission!
These are just a few tips on how to market your organization in an economic downturn. If you want to join our tribe, feel free to sign up here. And if you want help creating a plan to help your organization not only survive but thrive, let us know!
by Kirby Hasseman
I love football, marketing, and music. So you could say that the Super Bowl is like my, well, Super Bowl. To me, it’s one of the best American holidays…and yes, I want to be able to sleep in the day after. And since it is the most-watched television spectacles each year, companies from all over spend millions to advertise on it. So from my perspective, there is a lot to learn from the best ads. But more than that, there are marketing lessons all over the event. So here are the marketing lessons from Super Bowl 56.
Guerilla Marketing Still Works
Ryan Reynolds is not just a bankable Hollywood star. While some of you were not paying attention, he has also become a genius marketer. He has done some amazing work to promote his own brands including Aviation Gin and Mint Mobile, and he was at it again. While this is not one of his best ads, Reynolds and his team shot the ad upside down to grab our attention. This is an old-school Guerilla Marketing tactic, and it still works. When things are different, they stand out and make you take notice. This was an ad that made me pay attention.
It Pays To Give First
Every year it blows my mind that the NFL gets some of the biggest acts to perform for the Halftime show…for free. Why would Prince, Michael Jackson, Bruno Mars, and now Dr. Dre, Snoop Dogg, and Eminem do that? Because this is the biggest act of exposure you can get…and it will pay off in the form of selling music and merchandise. In essence, they are giving first. When you provide value upfront (in the right setting and to the right audience) wonderful things can happen. In that spirit of giving first, you can get my book on the subject for FREE here.
Using Short-Form to Drive to Long-Form Content
When you spend the kind of money that BMW spent to have Arnold Schwarzenegger and Salma Hayek in their ads, they want to get some bang for their buck. So leading up to the Super Bowl I kept seeing short-form content that teased the spots on the Super Bowl. In addition, they encouraged you to head to their website to see the full story. Using that short content to build interest and drive traffic to your site is a cool way to increase the value of your marketing.
A Call To Action Still Works
The best commercial on Super Bowl 56 was the Coinbase ad. Was it cool and fun? Nope. Did it have amazing celebrities and a funny storyline? Not at all. It was just a QR code that looked like a 90’s screensaver on the screen for 60 seconds. So what did people do? They scanned the QR code! More than 20 million people hit the landing page and took Coinbase from 186th place on Apple’s App Store to 2nd. So many people did it that it crashed their website! While crashing the site is not ideal, it shows you the power of giving people a call to action.
Many marketers and advertisers work so hard on “the creative” that they lose sight of the goal of the ad. What do we want customers to do? What do we want them to remember? Let’s make sure we focus on that.
Oh…and as a side note, sometimes NOT having a crazy creative message is really creative. And yes…I downloaded the app.
There are plenty of lessons to learn from the best of the best in marketing. And the Super Bowl certainly showcases the best of the best. What was your big takeaway?
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by Kirby Hasseman
As we approach the New Year, it’s a great time for organizations to take a hard look at their marketing. Do you love your brand? How do you feel about your website? This is why we created HMC Marketing Pyramid. It’s a simple tool that helps you look at your organization and decide where to start. The Coshocton County Chamber of Commerce is one organization that will be starting the new year with a new website.
Coshocton County Chamber of Commerce Website Is Live
We are excited to announce and share that the
Coshocton County Chamber of Commerce is starting the new year with a new website to better serve the Coshocton County community and its members.
We were honored to be asked to create this new website and want to thank Amy and the Coshocton Chamber for allowing us to build and maintain their new website. The task was simple. The goal was to create a more modern site that will make it easier for residents, visitors, and tourists in Coshocton County to find and connect with local businesses. Additionally, we wanted to build the website so that businesses and organizations can join, pay, renew membership, and update their profiles.
With the automation built into the website, the chamber can now accept new members 24/7, maintain an up-to-date
directory of members, and free up time for staff to do more direct service and less administrative tasks. Are you a member of the Coshocton Chamber (or do you want to be)? Make sure you bookmark the member directory and use it to find your next service, restaurant, or entertainment venue in and around Coshocton. If your business isn’t listed,
join today. And thank you so much to the Coshocton Chamber for letting us help you on this project!
Yes…Hasseman Marketing Does Websites
by Kirby Hasseman
If you are a marketer or an entrepreneur, you likely have more than a few challenges. But one of them is most likely, where to spend your time and resources. There is finite time and money, and you want to make sure you are doing the thing that will bring you the most return. Mike Michaelowicz turned me onto this idea in his book “Fix This Next.” Mike created a “Business Priority Pyramid” so that entrepreneurs can decide what is the right thing for them to be working on each day. I found this to be a powerful tool in order to make sure my efforts are going in the right direction.
But I find this to be a challenge for marketers too! There are so many marketing options to spend your time and resources on, it can be tough to know what to work on next. In addition, it seems like every day, a shiny new marketing tool comes out. As marketing professionals, we want to stay on top of the latest trends. But you don’t want to spend all of your time distracted by the newest toy…and lose out on the foundation.
That is why we created our HMC Marketing Pyramid
The concept is simple. We have created our HMC Marketing Pyramid as a worksheet for marketers. We have created levels so that you know where you are on your marketing journey. It also helps you prioritize what you need to work on next (or budget to work on soon). As you go through the pyramid, you want to check each box where you feel you are strong (or at least comfortable) where you are. After you go through the whole checklist, go to the lowest part of the pyramid where there is an unchecked box. That is where you need to start! You need to have a strong foundation if you want a pyramid that is going to last.
Rookie Level
If you love sports metaphors, you are going to dig this. If not, think of this as the foundation of your marketing plan. You might be starting a new venture, or you want to get back to basics. You start at the Rookie Level. At that level, you want to make sure you are happy with your logo, basic branding, website, and more. If you leave something un-checked here, no problem. It just shows you that it’s time to work on that to move your marketing efforts to the next level.
Starter Level
And speaking of the next level, now you are a starter! At this level, you have mastered the basics and you want to begin to be more intentional and more consistent. This is when you “up your game” on communication and letting your best customers know you love your fans.
All-Star Level
All-stars take it to the next level, and that is exactly what this ranking means. Once you have completed all of the tasks at Rooke and Starter, you can take bigger swings. Sure you have social media pages, but do you have a plan? Have you made the transition from rented media to owned media? I talk about what that means here. This is what happens at the All-Star level.
Hall of Fame
Marketers and entrepreneurs at the Hall of Fame level are truly building brands. They have custom events to showcase their services and to connect with their tribe. Many also feature custom apparel that their customers actually pay to wear! Now THAT is a brand!
So where do you land on the HMC Marketing Pyramid? This is a jumping-off tool to help you plan what should be next for marketing your organization. Let us know if you want to meet with one of our Hasseman Marketing reps to go over the pyramid…and plan the next steps!
And in case you missed it, feel free to sign up for our FREE 5 Day Marketing Course. We would love to help you get your marketing back on track!
by Kirby Hasseman
There I was, standing in front of a skeptical-looking group of local leaders. They were eyeing me strangely, with heads cocked to one side and eyebrows up because I had just said something strange. What sentence had made them look at me that way? What had I said? Simple.
“The haters help us.”
I was working with this group of amazing local leaders on an issue in Coshocton County. We were placing a tax increase on the ballot to fund a local Justice Center. It was a tax increase. So of course there were detractors! In every community, across the country, new taxes are (and should be) looked at skeptically.
Let’s Define Haters
To be clear, those that simply disagreed with the tax levy are NOT who I am calling “haters.” We have redefined this word to include everyone that disagrees with us. That is not the case. Civil discourse is incredibly important. In addition, for your business, haters are not people who don’t like what you have to offer or those that ask questions. Both of those are important for you to make your offer better. Even those that actively complain about you online can add value if you deal with them properly. I even wrote about 3 simple steps to deal with those complaints (or haters) here.
In this context, I am talking about the trolls. These are the people who are overly negative about any issue, service, or product you are promoting. This group of people is often the smallest but the loudest. They are mean-spirited, caustic, and intensely filled with vitriol and hate. No matter how often you try to (kindly) address their concerns, they keep piling on the negativity. They even sometimes go so far as to create clearly fake accounts so they can make accusations without retribution.
These, my friends, are haters.
So with that definition, you might be asking, “How can the haters help us?” I am so glad you asked. They really can help a cause or an organization, believe it or not. Here are two ways.
They Increase Our Reach
This is just delicious. Here is a simple secret when it comes to social media. Facebook (and other social media channels) want to keep you on their platform. In order to do that, the algorithm works to show you things that it believes you will find interesting. They are in the attention business and in order to keep yours, they want to show you interesting things. How do they determine what is “interesting?” While there are many factors, a simple way it is determined is through engagement. Engagement is measured by likes, shares, AND comments. So when a “hater” goes off on your page by commenting over and over again, they are telling Facebook that this is interesting and important…so it should show more people.
When managing the page, your first inclination might be to block them or delete their comments, I often advise against it. I would rather address any legitimate questions to show them (and the rest of the audience) that I care about the engagement. That shows the algorithm more activity and the audience a genuine desire to address the situation. The only time I delete comments is if they are profane, threatening, or libelous.
So by “hating” on us, they increase the reach of the message they say they are against.
They Decrease Their Credibility
In addition, this type of character is often a bit obsessive. They might comment over and over again on different posts saying the same thing. Or they might attack other people that support your business or offering. Basically, they are a hater to everyone…not just you and your organization. This sort of activity decreases their credibility in the rest of the discussion with the rest of the audience. The more they comment or “hate,” the more they do it.
So if they are decreasing their own influence, and they don’t like what you say, it tends to raise your reputation in the process.
That leads me back to the original sentence. While this type of person can be frustrating, “the haters help us.”
As a side note, congratulations to all of the community members that worked to pass several levies in the Coshocton community. It was a good day and I am proud to have had a small part in helping move these initiatives forward.
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