Recession is the word on many people’s lips at the moment. Certainly the credit crisis last year didn’t help. And the current massive and complex tax regime for individuals and business doesn’t help either.
And yet, as I’ve said before people are still consuming. We’re all still going to Sainsbury’s in the UK, or Walmart in the States, or maybe Robinson’s in Singapore?
We’re all still buying petrol, we’re all still eating. And from what I’ve seen people are still going out to the cinema, to the theatre to concerts and continue to eat out.
The problem is that there are less people to go round all the places that offer all these services. So like the last time we had a “recession” companies will go out of business, people will be laid off and businesses will make less profits. The thing that worries many businesses is that they will go out of business, or they’ll need to shed staff.
The answer for any business is to get more of the consumers who are buying to buy from them, rather than their competitors.
Restaurant Customers Example During A Recession
I’ve given an example in the video to demonstrate the way that proactively marketing to your customers will lessen the effect of any recession or downturn and will actually make you a stronger company when the good times return.
Obviously I explain the detailed marketing tactics the restaurants would use to get more customers in. The reason for that was that it would have extended the video length. And in addition I wanted people to realise that proactive marketing is not just for restaurants!
That said, there’s so much a restaurant can do to improve their marketing, for example:
- Have regular events each week, yes each week – you want to be full don’t you
- Have promotions with suppliers, like the wine merchants, cheese suppliers, meat suppliers, anyone you can think of who will give the customers a fun night by demonstration, tasting or “try it yourself”
- Make sure you have competitions so people enter and you get their details
- Keep sending out vouchers, email, direct mail
- Update your web site, give people access to write reviews, write a blog on food, your restaurants, the food scene in your area
Like I say there’s loads you can do that makes you stand out from the crowd.
And just the same applies to other businesses. What about an engineering business. Yes! Marketing can be proactive there too. Offer your customers free samples, go the extra mile, give amazing guarantees, offer the fastest turnaround time. Deliver more than anyone else does.
Don’t do it cheaper, do it so that you make a reasonable profit. If it turns out you’re cheapest OK. However, don’t try and retain that crown at all costs. Don’t get into a discounting war. It’s unlikely you’ll win and those with no fat die.