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Last week I conducted a seminar for the Industrial Round Table of the Streetsboro Area Chamber of Commerce. Our theme was ‘We refuse to participate in the recession – how about you?’ I partnered with Jim McClintock a sales training coach with The Training Center in Chagrin Falls. We both spoke about the sales and marketing process and how important that the sales and marketing departments always talk with each other. Jim presented on why the sales process is more important in tough economic times and how to get more closure while increasing value. I spoke on the need to keep your marketing efforts strong and ways marketing can assist and create new and better sales leads. The industrial manufacturing sector of the economy is still strong especially in the B to B arena. The reaction from participants echoed this thought as well.

Here is a comment I received after the presentation:

Bruce,

Thanks for the presentation you and Jim made at the Industrial Roundtable last week. The information presented gave me a different perspective on the recession. It’s easy to get caught up in the doom and gloom of the recession but the idea that we shouldn’t accept that attitude and instead continue to make sales calls made sense. I also thought the idea that we had to be prepared for a longer sales process made sense. I think we sometimes get discouraged if the sales don’t close in the amount of time to which we are accustomed. But I know I deliberate more when I spend any money now. The direct marketing campaigns were also very interesting. With the sales environment becoming more competitive we do have to find a way to stand out from the crowd. The examples you showed did exactly that for your customers. The typical marketing materials that have been used in the past won’t accomplish that. All-in-all the presentation gave me a new perspective on how to approach the recession and survive.

I also enjoyed the discussion afterwards about other topics that would be helpful to the industrial companies. I think the group came up with some good ideas. It also made me realize that we’re all facing the same issues. I’m looking forward to future roundtables.

Thanks,

Joe Snee
HR Generalist
Deluxe Corporation

My advice for 2009 is to not look back at 2008, but keep forging ahead for the future is waiting for those who will grab those opportunities.

Happy and more prosperous New Year.

Bruce Felber

>Hello AIM readers.

Continuing from my last entry regarding advertising in slow economic times I came across an interesting article and a study. (Reference Advertising in Tough Economic Times By Pete Michuda (EZine Articles.com)

How to market in tough times? Take advantage of the opportunity! Economic downturns are Darwinian events in the marketplace. The weak perish and the strong and agile survive, even thrive. During downturns, some companies disappear or are swallowed up by rivals. Others emerge stronger than ever. There are basic principles which apply during all downturns. How those principles are dealt with determine which companies will eat and which ones will be eaten.

What’s a marketer to do? Cut prices? Ask Detroit how rebates worked for them. When sales stalled, the three American car companies flooded the market with so many off-price deals that nobody would buy Detroit again without a big rebate or a 0% financing offer. Cut product quality or service? Remember Schlitz? Just thirty years ago The Beer That Made Milwaukee Famous was America’s second-best-selling brew. Someone decided to trim costs by switching to high-temperature fermentation. Customers wouldn’t notice, right? Wrong. Six years later the company was out of business. Cut advertising? When Netflix began making serious inroads into Blockbuster’s customer base in 2005, Blockbuster cut its $154.2 million advertising budget to $44.7 million. No surprise that Netflix grew from 4.2 million subscribers then to 7.1 million now. How’d the ad cut work for Blockbuster? In 2007, they closed 500 stores and saw a $33.4 million profit turn into a $125 million loss through the third quarter.

The Opportunity? Absolutely! Advertisers should go all out in the media that produce quantifiable results, especially since their messages will be more prominent as competitors reduce spending. No matter how deep the recession is or how long it lasts, it’s the perfect opportunity to become aggressive and grab market share as competitors scale back their marketing efforts.

An aggressive approach will pay some dividends early but down-the-road rewards are even greater. Companies that gain share during downturns historically keep that increased share when the economy bounces back. Each share point gained during the recession is worth incrementally more as the market eventually recovers.

A McGraw-Hill study showed that four years after a downturn, companies that maintained or increased marketing communications during the economic slowdown typically experienced 14 times more growth than companies that cut back. As far as today’s overall gloomy consumer confidence, there is one thing that is emerging. Even though consumers are cutting back, they’re not doing so entirely. Consumers are finding ways to maintain their quality of life.

Even in a time of belt-tightening, Americans are demonstrating a strong reluctance to give up on everyday pleasures. According to CNNMoney.com on 7/15/2008, many are leaving the car in the garage and staying home. A whopping 50% of Americans plan to buy an HDTV in the next year.

Also, despite the expense, consumers are refusing to give up entirely on vacationing. Even in these tough times, 59% of Americans plan to take a trip of 100+ miles in the next six months. To grapple with fuel costs, they just plan on closer-to-home trips: Epcot instead of Europe.

Pete Michuda is a Certified Radio Marketing Consultant and Certified Professional Commercial Copywriter working in the Chicago market radio industry. He’s successfully worked with many small to mid-sized businesses by helping them learn how to properly market their companies and how to realize a positive net return on their marketing investment. He can be contacted via e-mail at pmichuda@nextmediachicago.com

Article Source: http://EzineArticles.com/?expert=Pete_Michuda

Bruce

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Ok ghouls and goblins it is your time. In case anyone did not realize today, October 31, 2008, is Halloween. This means you have an excuse for dressing up and playing pranks. It is also the time to enjoy sweets (your dentist will love this) and look into innocent faces as they say “trick or treat”.

Do today’s kids even know what that means? Will anyone really give or get a trick? I would be curious if anyone could find some non-traditional approaches to this holiday.

If you are so inclined and would love to share photos or ghostly stories, please do so. Remember that there are many children roaming the streets tonight, so slow down and drive safely. This is a fun holiday, but let us all respect each other and their properties.

Bruce

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But instead, I was in the middle of typing the post when I closed Internet Explorer with Snapple’s website up and 30 more websites opened… it wouldn’t stop loading! Do NOT try this at home.

So, let’s try this again! I’m a huge fan of Diet Peach Snapple. I Love the stuff and used to love the advertising. Remember the Snapple Lady? Anyone else know the Snapple song? I couldn’t find it on the web so here it goes from memory:

Sing a song of Snapple but wait until you drink
‘Cause singing while your swallowing is harder than you think!

All across Ohio, Snapple does NOT distribute large bottles. Snapple only sells the better and bigger sizes in other states. In Cleveland, I recently found “Snapple Singles to Go!” packets! As a consumer, I thought I would miss the “real facts” from under the bottle cap however I surprised to find that whoever designed this small, nifty package found room to include their known-for “real fact.” Did you know that mosquitoes have 47 teeth (real fact #129)?

Marketing lesson… be sure when you create product extensions that you keep the brand’s identity intact. Snapple did a great job in doing this!

And please, don’t go to the website as I’m still worried I have a virus.

~ Michelle Hirsh, Felber & Felber Marketing