Marketing or Bust!
Tip #7
When times are tough it is tough to keep your marketing program strong. What happens when you stop marketing? What affect does this have on your business?
• Your brand is determined by what the marketplace perceives it to be. Not by what you want it to be.
If you’re trying to establish your brand as that of a secure and stable bank/company, you had better tout what makes you secure and stable. In today’s marketplace your customers hear those words all the time, usually just before a bank or company closes its doors.
• Ideally, you want to make sure you are communicating with your customers as much or more than your competitors are.
Today with companies reducing their marketing budges clients are not hearing from you or the competition. You have a captive audience when it comes to marketing. More than ever it is important to communicate with your customers and prospects.
• Quality matters. Relevant communications help your brand to stand out among the competition.
Non-relevant communications help you blend in. In this economic market “blending in” is not what you want. Blending in means “we have problems.” You want to stand out, be the bank or company that is wanting new customers and able to go get them.
• Be on Top of their mind: this more important than most people give it credit for.
I guarantee that a certain percentage of business you gain or lose is simply due to being or not being in front of the contact at the right time. Good marketing puts you in front of your customers and prospects even when you are not there. They have a marketing piece they can pick up, a piece that is current and relevant to their needs. In fact, they just got it in the mail today!
• People notice companies cutting back.
It creates a perception that you’re in trouble and makes it easier for your customers to justify listening to your competition’s value proposition. At our core, we all want to be associated with winners, and people want to do business with companies that they perceive as stable, progressive, and successful.
Remember recessions always create a redistribution of market share. This is the time to seize the opportunity.
If you would like to discuss your marketing needs and how MICR can help you with finding your direction please contact us at: marshan@micrtechnologies.com or larryn@micrtechnologies.com
If you have missed any of the previous tips and would like to see them you go to go:
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Quote of the week: What lies behind us and what lies before us are tiny matters compared to what lies within us.
MICR Technologies, Inc.
23061 La Palma Ave
Yorba Linda, CA 92887
714-463-1490
