It's Time To Completely Change Your Marketing Strategy!

Wed, Dec 10, 2008
Business • Marketing
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7 comments

Your customers are speaking
a different language than they were
a few months ago…We, as business owners and marketers, have failed to realize that the game has completely changed.

Our customers are speaking a different language than they were even 3 months ago. The sales tactics that worked a few months ago won’t work now without major tweaking. Furthermore, I don’t see any business that has really picked up on our customers’ new language.

This came to light when I wrote a sales letter for a new product I released today. So far, the product hasn’t sold as well as my last one (which I released in September) did, even though in my opinion it’s as good or better than my last product.

In analyzing my sales copy, I felt there was something big I was missing. Then, in a flash, it hit me:

I wasn’t acknowledging the effect the recession is having on customers’ thinking.

I tend to blow off the negativity in the media; scoffing since the malls are still crowded and sales are only down a few percent from last year. I shrug it off. But that’s a mistake — because it’s causing a disconnect between my customers and me.

The New Story Your Customers Are Telling Themselves

A few months ago, in September, many business owners had this mindset: “I’m happy to invest in pretty much anything that is guaranteed to increase my business in some way.”

Now, what are business owners saying? “I’m going to be really cautious. The product or service not only has to increase my business, but it has to be cost-effective. And even then, I may skip it, since I’m interested in conserving my cash and making sure I can pay all my bills in 2009.”

It’s even worse if you’re selling direct to consumers. Their story has changed from “I’ll buy just about anything to make me or my family happy” to “I’m only buying the things we really need.” Or worse…”I’m simply not buying anything that can possibly wait until next year.”

Our customers’ underlying attitude has shifted to fear. Yet our marketing messages are still the same, parroting how customers can make more money, have more fun, or be happier.

We haven’t changed our marketing to account for many who are worried about losing jobs, having a business that will make less next year than it did this year, or who simply don’t know whether they will be able to pay their mortgage. We haven’t acknowledged our customers’ fear.

I have seen some banks attempt to acknowledge customer fear by running ads saying they won’t go out of business since they are well-capitalized. While on the right track, that marketing falls short, too. Going out of business is a story about you, not your customer. Your customer is likely less worried about you going out of business than they are about being able to pay their own bills.

How To Identify With Your Customers Today

It’s time to acknowledge where your customers are today. They’re worried. They don’t know what the future holds. They’re not sure if next year will be better or worse than this year, but they privately think it may be worse.

You must state all of this clearly in your marketing and communications, or you risk losing your customer base.

More than ever, our customers need hope. Take their fear and move them to a higher level. Build them a bridge to a better tomorrow. Show them, step by step, a path to make themselves better in some way. Reassure them that no matter what happens in the world around them, they can still be happy themselves. We all need to hear more of that right now.

This type of marketing and customer communications, done sincerely, will be the difference between the successful companies in 2009 and the ones that fall by the wayside. Start by letting your customers know you feel their pain. It’s time to step up.

Recommended Reading:

Delivering the Best Customer Experience. Is emulating the “big boys” really a key to success?
Three Business Ideas That Will Thrive In A Recession. Three specific ideas you can use to start a new business or expand your existing business during a recession.
Worksheet Your Way to a More Profitable Client Base. An innovative idea to help you increase your profits.

John Doe says:

12/10/2008 at 6:08 am

There’s nothing new under the sun — my Marketing 101 class literally taught that marketers should always address customers’ needs of convenience, time, and fear/risk reduction. Many companies have adjusted their strategies in light of a shift in current consumer confidence, but to say that no one has done this yet is slightly ignorant. If companies aren’t appealing to this right now, they’re behind the curve (and yes, I do as I say).

Steve Hurst says:

12/10/2008 at 6:09 am

Erica,

WOW, what a wonderful insight you discovered. I’ve been in sales and marketing for over 30 years and missed or glossed over this fact that you have pointed out. Like you I have chosen NOT to participate in this “recession”. However, you are correct in pointing out that our customers and clients ARE worried about the current economy.

Most times it’s the simplest of observations, like yours, that some of us seem to miss. I’ve been too busy trying to encourage my customers (which is not a bad thing) about the economy will eventually get better but I see now I do need to acknowledge the current situations and go from there.

Thanks so much for sharing your thought process.

Steve Hurst
http://www.spnmarketing.com/blog

successwantsyou.com says:

12/10/2008 at 6:44 am

As always, your insight is right-on. In my opinion, there is too much negativity in the media and I believe that the media is targeted to the 80% of those who are stuck in the rut of negativity; the media continues to confirm this for them. I believe in the 20% who are staying positive and have their focus on those things that are working. For instance, one of the markets that has not felt the economic slump is the Human Growth Industry; it continues to be one the strongest growing industries at around 19 billion dollars. The internet has changed the way we do business today – be a part of that business and stay positive!

Scott says:

12/10/2008 at 8:25 am

Susan-

Great article and something I will take to heart in my next newsletter. Keep up the great work.

Scott

Cath Lawson says:

12/12/2008 at 10:35 am

Hi Erica – this is interesting. I guess because you’re not worrying too much about the recession, you were writing a sales letter that would appeal to your customers greed instead of their fear.

It’s an easy mistake to make when we’re not feeling fear ourselves. And it’s a great reminder for me, as I’m trying to write a sales pitch for a product.

Anyway, your interview sounds great and I’ll be downloading myself a copy when I get a spare minute to listen to it.

I don’t read the Warrior forums much. How do you get to pitch your products on there? Do you have to be a paid member? Is it a worthwhile forum to join?

Cath Lawson says:

12/20/2008 at 8:32 am

Hi Erica – I’ve listened to the interview and it was awesome. Some of the advice in there was worth far more to me than the $7 you charged. The stuff about not using a USP was absolutely brilliant.

I hope you don’t mind but I’ve blogged about it. Some of my readers are hoping to start selling products on their blogs soon and I think they’d really benefit from listening to the interview.. Thank you.