Marketing in a recession is touted as one of the number one things to do to help develop and grow your market share comparative to pre-recession levels. It is also the key to ensuring your product and brand offering remains relevant as customers re-evaluate their existence against Maslow’s hierarchy of needs (https://en.wikipedia.org/wiki/Maslow%27s_hierarchy_of_needs), placing them in categories of customers and seeking to purchase items relevant to that needs type that may be new or foreign to them.

It is also important to let your customers know that you ARE still here and operating too. With many doors suddenly closed or partially shuddered, customers are left to wonder what businesses still exist, are open, shipping and delivering the goods they need to continue their existence. Retaining those customers is not only the most cost-effective way to drive more sales to your organisation, but a delighted customer is also your best word of mouth advertiser. Previous recessions have pointed out that careful recovery is achieved when businesses demonstrate an emotional connection to their customers and demonstrate empathy (a united front of “we are in this together”).

There are some great ideas and inspiration for helping define your “recession consumer segment” and “tailored tactics” from an interesting HBR article https://hbr.org/2009/04/how-to-market-in-a-downturn-2.

As part of your customer service and contactless delivery services, you may want to consider incentivising repeat purchases or adding that extra thank you with branded promotional lollies. There remains no charge for artwork setup or changes, so if you want to update your artwork to include links to online shops, coupon codes, survey incentives or update your message to something better suited to the current environment, we are here to help.

 

Other interesting articles about marketing in a recession

https://blog.marketo.com/2008/06/7-strategies-fo.html

https://www.bluecorona.com/blog/recession-marketing-strategies/

https://www.socialbakers.com/blog/recession-marketing

https://hbr.org/2008/09/how-to-market-in-a-recession