© Copyright Montage Communications Ltd 2008 A montage of all media, not just part of it
Nov 19, 2014
© Copyright Montage Communications Ltd 2008
A montage of all media, not just part of it
© Copyright Montage Communications Ltd 2008
““Arguably the most difficult Arguably the most difficult conditions in 60 years."conditions in 60 years."
© Copyright Montage Communications Ltd 2008
What the media failed to point out…
• Are we on a three day week?
• Is inflation at 27% as in 1975?
• Are interest rates at 15% as in the '90s?
• Are there over 3m unemployed as in 1985-1986?
© Copyright Montage Communications Ltd 2008
“Recession? I thought about recession…but I
decided not to take part!”
Sam Walton
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Downturn = Opportunity!
© Copyright Montage Communications Ltd 2008
Be bold or be gone…
• As customers become harder to find, do you turn off your marketing spend?
• If your competitors are cutting their budgets, do you follow the crowd?
• How important is it for you to grow market share...?
© Copyright Montage Communications Ltd 2008
‘Feel your customers’ pain’
• Speak to your existing customers
• Find out what they really need
• Realign your value proposition
““Don’t just walk a mile in your customers’ Don’t just walk a mile in your customers’ shoes…walk two.” shoes…walk two.”
Kraft Foods CMO Mary Beth WestKraft Foods CMO Mary Beth West
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Positioning in a recession
£199 on a new suit?
£12.50 “Good as new”
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What is your DOO?
• Price – but what about margin?
• Quality (false economy)
• Added value
• Are your results measurable?
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Build trust and appeal to the family
• Homely values vs outward bounds
• Appeal to the nervous buyer
• Build your brand as a thought leader
• Become a safe bet
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Tactics
• Maintain the frequency of advertisements
• Substituting TV for radio advertising (as this becomes cheaper)
• Increasing the use of direct marketing
• Consider PR vs advertising
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Potential for digital media
• Reach a worldwide audience at a fraction of the price
• Target niche audiences easily
• Drive “word of mouse” and engage with your customer
• Hugely measurable – ROI
• Why build from scratch?
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PRBristol.co.uk
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DOO….something NOW!
• Be bold or be gone
• Walk two miles in your customers’ shoes
• Look at your DOO – Downturn Opportunity Offer
• Revise tactics to be cost effective, targeted and measurable
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Questions?