Weathering the Economic Storm with Accelerated Marketing

What could have given you a sales edge of up to 250% or more in the 1980 recession? A McGraw-Hill Research study shows that companies that continued advertising aggressively throughout that recession had up to a 256% sales edge over those that skimped on their advertising.

A 2005 Penn State University study also analyzed marketing efforts of companies that continued marketing aggressively through the 2001 recession and found that those companies continued to flourish both during and after the recession.

Times of economic downturns can create opportunities for businesses to accelerate sales more efficiently than competitors, creating a marketing advantage over others that choose to cut advertising funds. Choosing the right marketing in a recession can prove to be a cost effective way to grow the company and its bottom line.

How Trade Promotion Optimization Can Help

• Continue advertising aggressively. Keeping your advertising levels steady, or even accelerating them, can be a simple proposition and can be taken on at any scale. Larger marketing initiatives may include national promotion direct mailers and coordinated regional campaigns, while smaller, low-budget options may entail sending out an email blast, or distributing a quarterly newsletter.
• Channel target consumers. Trade promotion optimization allows you to stretch advertising budgets by targeting local consumers. Market research specialists acknowledge that trade promotion management is an investment that works especially effectively during trying economic times, allowing for coordination of national or regional opt-in advertising programs. Trade fund managers can also provide customizable marketing tools to local advertisers to effectively target their desired audiences.
• Take advantage of your predictive modeling resources. Data analysis lets marketers apply logic to previously collected data to find business variables and trends. Predictive modeling uses that analysis to anticipate the business effects of changing any of these variables. A recent Forrester report discusses how using predictive analytics can help pinpoint ways to make your customers become more profitable and focus on successful or unsuccessful consumer behaviors that can be addressed within your marketing plans.