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Promotional Product Recession Marketing Strategies

Recession?

The word ‘recession’ is being thrown around a lot at the moment.  It looks like major economies such as the US and UK are heading towards a recession or a downturn in 2008, there can be no doubt that a general slowing down of the global economy will cool things here in Australia also.  At Promotion Products we are eternal optimists and prefer a glass half-full approach to life!. We see the suggestion of a recession as an opportunity, we also see the strategic use of Promotional Products as a great way for your company to prosper during a downturn – if indeed that’s what we are heading for.

 

Promotional Products as a great way for your company to prosper during a downturn

Do not stop marketing
One of the most natural things for business people to do when they sense a downturn is to try and cut costs.  Advertising and marketing is an area where costs can be cut, as a short term strategy to save costs this can work.  However it is fairly obvious that after the initial saving has been realised that your business is going to move onto pretty shaky ground.  New customers must be found, existing ones must return or your business is going to end up being a statistic. The above graph compares companies that cut advertising spending with those that did not during a recession. The graph shows that cutting advertising spend will damage long term sales – read more about the graph here.
A gift shows clients that they are appreciated

A corporate gift shows clients that they are appreciated

Re-evaluate and re-focus your marketing
Whatever business you are in if you are considering cutting back your advertising and marketing you can be sure that your competitors are too.  As the graph above shows following the pack is not a smart move – your sales and market share will fall.  If your competitors are retracting this is creating a space for you to fill.  We do understand though that filling the void and winning your competitors customers can be an expensive business and is not always practical using traditional media – however we have marketing solutions for you that are low cost and highly effective.
Desk items are mini billboards

Desk items are mini billboards
 

Promotional Products focus on relationships
We all know that business is built on relationships.  Strengthening relationships with your existing clients and building new relationships with new prospects is what marketing and advertising boils down to.  Wouldn’t it be good if there was an advertising method that allowed you to focus on individuals and strengthen their bond to you and your business?   Luckily this advertising method exists – Promotional Products are the ultimate marketing tool to communicate directly with clients.  Promotional Products allow you to target customers individually - this is only one reason why they can help your business thrive.  Consider these other powerful reasons:-

Longevity / Value
A good quality Promotional Product will be around for years and will be used on a daily basis by your client. No other media offers as much exposure to customers. Work out the cost per customer exposure of other advertising you use – if you give Promotional Products to only those you have targeted you will never waste another marketing penny again, ever.

Obligation
Giving Promotional Products to customers strengthens relationships and creates an obligation towards doing business with you and your company. Have you ever received a gift from someone you didn't expect and then bought them one because you felt obliged to?  The same thing happens when you give Promotional Products – except your clients give you more business, it’s basic psychology.

Versatility
There are so many applications for Promotional Product marketing that a listing of them would look like the New York phone book. If you can't think how Promotion Products can help your business call us – we are here to help with your marketing.  There are Promotional Product solutions for all businesses large and small.

Budget Flexible
From a few cents and up we have products to suit all budgets. Using Promotional Products as part of a wider customer care push can be an extremely low cost marketing strategy

Functional
Other than delivering your message our products actually have uses! – if they can tell the time, hold some coffee, write a letter or simply entertain they are going to be of value to your customers. Think of what sort of products ‘fit’ your business.

 

Low cost targeted marketing

Low cost targeted marketing with Promotional Pens


Call or email Promotion Products
We believe it is our job to pro-actively encourage and help our customers with their marketing.  We simply do not know if we are heading for a slowdown or a recession, however we do know that the simple principles behind Promotional Product Marketing work regardless of the economic conditions.  If you are stuck for marketing ideas or are looking some guidance I would be happy to help you further.
Thank you for your time, I look forward to talking with you soon.

Douglas Gregory January 2008