Anti-crisis marketing: how to beat the competition

Came the truly frightening times for marketing managers. How to respond? What is the optimal strategy? There are a few rules of survival in times of crisis.

Do not panic

Most marketers believe that in the period of crisis, consumers sharply cut spending. In fact, consumer spending is rare indeed fall - they just grow more slowly, not in the inflation rate.

Cut the right costs

To the right are the administrative costs and even decline in production. In any case it is impossible to start saving on the quality of the product or its promotion.

Reduction in advertising revenue will inevitably reduce your costs

This is the easiest and fastest way to reduce costs, but the payback is imminent. Studies have shown that firms that reduce advertising costs in the recession period is generally experiencing 20-30% decline in sales and earnings over the next two years.

Reduction in advertising expenditure causes long-term harm

According to the research, advertising has a long-term impact on sales: up to five years after the campaign is over. Cutting advertising budgets hurts business in the long run. PIMS analysis shows that the companies, which reduces the advertising, you need much more time to exit the crisis, when the economic situation begins to improve, rather than all the rest.

Reduction in advertising expenses - risk for the company and brand

Without the help of advertising is much more difficult to maintain distribution and resist pressure to lower prices. With the decrease in sales revenues unadvertised brands are falling rapidly, sometimes with very dire consequences. In financial markets, aware of this, so there is a downward trend in share prices of those companies that cut advertising costs.

Emotions - a key in the success of the brand

profitable brand The secret is not to offer discounts and promotions, and to build a strong emotional connection with the consumer. Analysis of 900 cases published by the global advertising research center shows that the advertising campaigns that focus on the emotions tend to prove more profitable than those that convey the rational benefits, even during the crisis.

Seek fame

Word of mouth - moschneyny amplifier. To your customers talking about you, you must do something remarkable. As much as unfashionable as it may be, the TV still has great importance here. The correct mix it with online campaigns can double your returns.