DAY Communications LLC Design & Function for Web & Print

"A pessimistic outlook can be more damaging to your company than faltering demand for your product of service." - Anon.

"Be aware that research has shown that companies that continue to advertise in adverse economic times will gain market share. Why? Simply put, it's because your competitors are sitting idly waiting for the market to turn around, while you're aggressively pursuing business!" - the Strategic Planning Institute of Cambridge, Mass., "Profit Impact of Marketing Strategy" Study.

"With talk of recession, budget deficits, ... and uncertainty with respect to interest rates, it is important to develop contingency marketing plans. No one knows which economic scenario will develop, but with the bottom line at stake, it is crucial to be prepared to adjust operations for the greatest possible profits...IN ANY EVENT!" - Avraham Shama

Avraham Shama in his book, Marketing In A Slow-Growth Economy, suggests these activities may help marketing managers:
    1.    Study how inflation affects the target consumers. Different targets are affected differently. Thus, various degrees of modifying the marketing mix are called for.
    2.    Keep costs down but don't lower prices, since consumers will relate this to low quality--which could result in decreased demand.
    3.    Institute a flexible price policy; frequent adjustment of prices may be important. An examination of the cost and price structure for consumer goods every 90 days is wise. Maintain competitive pricing. Emphasize profit margins, not sales volume.

The buzz words to use in advertising messages are: VALUE, ECONOMIZE, SALE, FUNCTIONAL.

Here are some idea starters to help you revive your business.

Send a survey to customers and employees. If possible, send the sales team out to get the score on your business performance. Find out what customers value most.

Ask yourself: "What is the news about our product?" People want to know the news.

Create news by devising a new application. Brainstorm the possibilities with us.

Discover the online implications for your industry; do online research to see what your competitors are up to.

Do reverse brainstorming. Make a list of negative attributes to serve as a basis for discussing improvements.

Think of your offering as the profits it offers the customer's business. Sell it as such.

Adopt a new service mark or slogan. Then make sure everyone knows it.

Introduce a contest. People love getting something for nothing. Have a drawing and then add the names submitted to beef up your database.

Remember how to REAP rewards:
Respect your clients. Customers today are better educated and more demanding. Stop seeing prospects as targets, and consider how you might best engage them. Your aim is to connect. One message probably isn’t enough. Respect differences.

Explore media opportunities or find an agency that is enthusiastic about doing so. The proliferation of media can be viewed by marketers either as an overwhelming maze or an exciting challenge. Choose the latter. Seek out new ways to advertise. Consider sponsoring a special event, advertising on video games or bus wraps, or participating in a trade show or convention of a group you are not familiar with. And what about SMS (short “text” messages) among staff, along with every other internet and telecommunications advance, to stay on top of your marketing mission?

Audit your marketing program– A marketing audit will enable you to: 1. Evaluate your current situation; 2. Identify marketing opportunities 3. List some marketing objectives, leading you to: 4. Outline strategies and action plans, and 5. Develop budget estimates. Those five items comprise a one-year marketing plan. See The Zer0-based Marketing Audit.

Provoke people, but in good ways. To stand out, don’t forget what people respond to: rhyme, alliteration, musical jingles, colors, and of course, your genuine concern. Pique their curiosity, evoke emotion, but DON’T manipulate. Remember, respect!

A renowned theatrical producer, David Belasco, created a maxim when he said, "If you can't write your idea on the back of my calling card, you don’t have a clear idea." That insight applies to advertising strategy. If you can't state yours in seven words or less, you don't have one that will work.

What is an advertising strategy? Why must it be brief? Who should devise it? How often should it be changed? Good questions!

An advertising strategy is a premise that makes a promise. The premise is a succinct answer to the question, "What business are we in?" It is stated as a benefit or problem solution, that is, as a promise, to your customers and prospects.

For example, the business of a beauty salon is to offer services that help to groom its customers so they will look their best and feel better about themselves, which helps them to be more successful. A shortened version of that mission might be: Quality salon services to help people look beautiful, feel great and get ahead.

Since happy, successful people usually have an air of vivacity, we can abbreviate the strategy to seven words: Quality salon services to give people pizzazz. The strategy is now a simple message which will serve as the foundation of the salon's advertising program. Interestingly, it can also be recast as a name for the business, PIZZAZZ! Or, if the business already has a name, PIZZAZZ FOR YOU! might be used as a service mark.

An advertising strategy is a core concept. It must be focused because the marketplace is deluged with signs and advertisements and there is only a moment to grab attention. It must not be simply a list of attributes; people want to know--"What's in it for me?" Only a premise with a promise has the power to drive your marketing plan and direct your creative strategy.

Do it yourself?

As to the question of who should formulate the strategy, it may be possible to devise your company core concept in-house. In the same way, lots of people dye their own hair at home in the kitchen-- but it's safer to go to a professional. A limp strategy is worse than having orange hair.

An advertising agency will:

1. Assist you to define your marketing challenge
2. Find the drama in your product or service and translate that to a meaningful benefit
3. Analyze your target market and secondary markets
4. Thoroughly study your competition
5. Develop a strategy that will position your product or service to break through media clutter, be perceived in a memorable way, and generate sales.

The "big idea" which all creative people strive for depends on the advertising strategy to be kindled. A good agency will tailor ads to embody the strategy. We'll insure that all aspects of your advertising program dovetail into a premise with a promise.

Finally, when is it time to change your strategy? September is a good month to review your advertising program as you set a new budget for the coming year and devise new plans. As well, there's no time like the present. Call us to discuss whether it's time to change your strategy or to discover how to get more mileage out of your present one.

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