Archive

Seven Tips To Survive and Thrive in the Recession - Chris Cardell style

Monday, 05 Jan 2009 at 16:19, by
Chris Cardell is a marketer that many marketers and businesses will have heard of through his prolific self promotion. Cardell offers free telephone seminars, one of which was discussing tips to get by in the recession. Below are Chris’ seven pearls of wisdom to getting by in the recession:


1. Beware of the ‘scarcity’ mindset

This is the mindset being bandied around at the moment, that there is ‘not enough to go around’. Chris tells us this is incorrect. During a recession, or a downturn, what people spend on shifts. For instance, people still eat out in restaurants. There are still people with money to buy things. At the end of the recession, 90 - 95 % of people employed now will still have jobs.

Chris goes on to say that during a recession it is best to skew your customer base to the higher end of the market - wealthy customers complain less, and are easier to do business with. You can also charge a premium rate.


2. Find a source of great marketing

More than one approach is needed to get new customers, i.e.; referrals, advertising, direct sales etc. Chris says you should have 5 - 12 ways of getting new customers.

During a recession, marketing budgets are slashed and advertising is pulled back in many departments. This means that there are great deals around, and less competition for your adverts. Some adverts are 50% cheaper during a recession.

Small ads that send people to your website (offline to online communications) are also good.

Referral strategies with word of mouth recommendation often are the most trusted form of marketing. Customers thinking about spending will often be more likely to do so and do so faster with word of mouth recommendations.


3. Dig into your customers mind and soul and when you get there, stun them!

Ok, so Chris may sound a little like an evangelical spewing what the skeptical would call marketing BS here - but in actual fact, this is what every marketer learns first – that marketing is all about fulfilling a customer’s needs and wants. If you can go that extra mile and give them ‘customer delight’, the textbooks tell us they’ll constantly be coming back for more. Audiences Central are trying to do this with our Captivate programme. Customer delight is in fact something that a whole thesis can be written on, however as we have found out, it is about a shift in attitude and ethos. Sustaining this and constantly working to deliver delight is not easy, but the rewards to customers and the organization are mutually beneficial, sometimes beyond measure.

Chris tells us that most businesses are mediocre. Going the extra mile to find out what your customers need, and then giving it to them, and really excelling in doing so, is what will give you competitive edge.

The answer to the recession is your customers. Fall in love with your customer - what do they want and need? Stun them with what they want, give it to them.

Chris tells us to find our 20 best customers, call them and to not sell them anything. Instead, find out what you can do to help them. He says that seven to nine will end up spending something with you.


4. Maximise your internet strategy

Chris tells us that most websites are ineffective.

You must have a conversation with your customer. The front page should not just be all about the company. The internet is not all about sales, it is about knowledge and what people want. People want knowledge and information. Use your website to do this. Give something away for free. A report, or a download.

People like email, and want interesting emails. An email every 7 - 10 days is acceptable, if it is something people are interested in and something that they want.


5. Understand the importance of lead generation marketing

There are two types of advertising. The first is a straight advert that advertises your product directly. The second is an advert that gives something away for free, or directs customers to something they want, and generates leads for sales. For instance, an IT company might put up an advert that says ’7 things that you need to know to prevent your computer from attack’, and direct people to a special report - giving something away for free. A sales ad may generate 3 responses. A free offer may generate 20 responses, or leads. Continual follow up of these leads with communications can lead to an increased chance of sales, as it is getting continually difficult to get people to spend money straight away.

6. Multi-step follow up

This is about increasing sales without spending more money. People on average need seven points of contact to make a sale. Most businesses stop after 1 or 2 points of contact. Contact people at least seven times to begin relationships with new customers.

The multi-step follow up sequence is this - you may use different methods of communications, but use at least email (almost free) as a follow up.


7. The difference between deciding and resolving to succeed

Decide to have a successful business, and you can try to have one. Resolving to do so, and it is going to happen. It is a mindset. Power of mind will storm through any barrier!


Cardell’s seminar may sound a little preachy or commercial to an arts organisations ears, however, what he says has a sound basis in marketing theory. When adapted to the sector, and honed to a particular organisations needs, there is no reason why his Seven Tips shouldn’t produce good results.
perm link | no comments
info@audiencescentral.co.uk | +44(0)121 685 2600 | Contact

The Arts Council Business Link
RSS feedsRSS | Accessibility | Site map | Legal

» Login