Don’t Change your Lifestyle. Change your Supermarket.
In recessionary times your market changes and as the recession deepens will continue to change. The survival of your business could depend on how well you adapt to the changing market conditions and more importantly your customers changing needs.
The phenomenal success enjoyed by the low cost German Retailers (ALDI and LIDL) are in no small part due to their ability to understand their market and adapt to the changing needs of their customers. As economic circumstances change, customers become more price conscious and demand value for money.
- How have your customers changed?
- What impact has the downturn had on them?
- We know they are still spending money; the big question is how much of it they
- are spending with your business?
- Are you losing customers?
It is well documented that any business that increases its advertising during a recession, when competitors are cutting back, can win new customers and improve market share. Again, we need only to look at our German Friends, to see proof of this.
- What message are you sending out to your customers?
- Has your marketing message changed to adapt to the new economic environment?
To succeed in the downturn all business need to re-engage with their customers and adapt their marketing message to the new economic reality. A powerful marketing message needs to be customer focused. A good marketing message should address all the points below.
- Identify how your customer’s needs and priorities have changed?
- Understand the biggest problem/challenge they face?
- Understand how they feel about the particular problem/ challenge and appeal to their emotion.
- Demonstrate clearly how you can provide them with the solution to their problem.
- Tell them about the benefits they will receive when you have solved their problem
A well thought out Marketing Message directed at a particular audience, targeting a specific problem/ challenge, will bring more customers into your business and help you increase your sales and boost your cash flows. Stop Surviving and Start Thriving.
Need help with your marketing message – we can help you!