Tough Times call for Tough Measures?
It’s not unusual to believe that everyone cuts marketing budget when times are tough. When things get hard (yes, we’re looking at you 2020), marketing budget is often first to get the chop. But is this really a sensible business strategy? If anything, continuing to market your brand (or even increasing your marketing budget) in times of adversity is a prime opportunity to connect with customers and overtake your competitors.
The parable of the cornflake
It’s easy to panic and step on the breaks when you’re not playing the long game. Take the humble cornflake. During the Great Depression of the 1930’s, Kelloggs wasn’t the market leader in cereals by any stretch. But the bold marketing strategy they went with is what made them the global brand they are today.
Instead of cutting their advertising and their marketing budget when times got tough, like their competitors had, Kelloggs amped it up – even advertising at a loss to begin with. By going against the grain (pun intended) and taking a long-term marketing approach, they blew their competitors out of the water.
So, the next time you’re tucking into your cereal, just remember, there’s a lot of truth in the old adage:
“When times are good, you should advertise.
When times are bad, you must advertise.”
So my final message is this. Don’t wait for things to pick up, because it’s unlikely they will, keep your message at the forefront of your target audience’s mind.
Magnificent Stuff’s savvy specialists are here to help you market your business (breakfast cereals included) through good times and bad. Not everyone cuts their marketing budget when times are tough. Our team are on hand to understand your latest hurdle and support you with a smart plan to race over it!
This year has been a very exciting one for Harlow and we are extremely proud to be part of and support the new Discover Harlow movement. We made the easy decision to become Ambassadors for the Discover Harlow scheme because we are passionate about making Harlow a better place to both live and do business. The more Ambassadors on board, the quicker it will be to spread the word about the exciting things happening in Harlow; therefore, it was a no brainer for us!
The Harlow Ambassadors Programme brings together businesses like ours, organisations and individuals to help raise the profile of Harlow whilst supporting investments and attracting visitors to the town. We all have the same vision and goals; so why not work on achieving those goals together? Many hands make light work as they say…
We are now part of the programme as Ambassadors bringing our ideas to the table, but there is so much more to it than that. We are part of a charismatic network of well-connected patrons who both understand and champion Harlow’s story as a thriving area of opportunity. We have already been involved in several events held by the Discover Harlow board and have many more booked in the diary! Exciting times!
We actively contribute to promoting Harlow through our production of Stories Magazine which is now in its seventh issue! Unlike any other magazine in the area, Stories is completely content focussed. We are able to give extraordinary individuals, amazing charities and remarkable businesses a platform upon which they can tell their story. The Harlow & District Chamber of Commerce have been a great support. We were able to incorporate the Discover Harlow visual language into our latest issue, Changes, which can be read online here.
If you are thinking of becoming a Discover Harlow Ambassador and allowing your voice to be heard by the most influential individuals in Harlow, then head to www.discoverharlow.co.uk and get in touch with their team!
The digital marketplace is much like any other, except that it’s a lot bigger and a lot busier. Real estate isn’t a problem, so more stalls are being set up every day, and it becomes increasingly hard to attract the attention of customers amid all the bustle and distraction. Which is why creating a strong online brand identity is key to any digital marketing strategy.
To continue with the bricks and mortar analogy, your website is the equivalent of your shop front- it should be a shopfront that will make people want to go inside. It should consistently represent the values and aesthetic of your business so you present a strong brand identity. Nobody should be in any doubt who they’re dealing with, or why you’re the best at what you do.
And like any other business, good customer service is vital. No matter how much amazing advertising you may do, in the modern world of instant reviews your customers have more power than ever to make or break an enterprise. If they go away happy, not only will they tell their friends, they may very well tell the Internet, and in the process thousands of others they don’t even know. If they go away unhappy… well, you can figure that out yourself. Just make sure they don’t!
Then you have to decide where to put your shop-front. Not literally, of course, but where it will sit in relation to other businesses. This is a dynamic process, as the digital marketplace is always changing, but can be accomplised by building associations between brands and subjects. In the same way that Amazon will offer you recommendations based on what you’ve previously bought, you need to watch what your customers are interested in and market yourself accordingly. This can be as simple as using hashtags on Twitter to piggy-back on relevant trending topics, or as complicated as conducting full-scale market research. Once you know what your customers are looking for and where they’re likely to be looking, you can place yourself so that they will either seek you out or stumble across you, see your beautiful storefront, and pop in for a browse!