5 Changes to Make in Your Marketing Plan for a Recession (or Recession Fear)
5 Changes to Make in Your Marketing Plan for a Recession (or Recession Fear)
Are we headed into a recession? Yes, no, maybe.
Summer is almost over...Only 4 months left in the year...
Where do you want to be on December 31, 2022?
Write that down.
Break it down into a specific plan and start executing it Monday morning!
You can do a lot more than you think in 4 months.
Your top anxiety at the moment is probably, “Are we headed into a recession?” I have the only truthful answer: “Yes, no, maybe.”
Regardless of your economic analysis, rates and inflation will rise and probably plateau at a new high before reversing.
So, stop hoping for the gravy train of cheap money and unbridled optimism to return and start repositioning your sales and marketing strategies for a less certain market.
Market volatility and uncertainty give most business owners, salespeople, and marketers instant anxiety.
But, you know who has a very different reaction?
Professional investors. And business owners, salespeople, and marketers with an investor mindset.
Savvy investors know that these are the conditions that create arbitrage opportunities all over the place.
People get scared and let go of incredible employees
People get scared and take jobs and hustle at levels that create astonishing value
People get scared and unload real estate for below-market value
People get scared and borrow money at higher rates of interest
People get scared and look for additional insurance, for comfort
People get scared and spend, at higher prices, for comfort
In this frantic state, people crave comfort.
People become increasingly attracted to calm, reasonable voices.
People experiencing economic uncertainty seek and listen to advice more readily.
Sales and marketing plans built around educational content and consultative selling thrive in uncertain economic markets.
People in this market are still looking for solutions but are beginning to learn that those solutions are more complex and harder to get.
So, put yourself into the education business and generate your own leads.
Here are 5 strategic recommendations Kaleidico is currently making to clients:
Take control of your lead generation. Reposition your website for a direct consumer experience.
Start educating by adding blog content to your website. Make this the central hub of all of your other marketing efforts and reap the long-term benefits of SEO
Use your blog content in automated email campaigns to your database (aged leads and past clients) and generate fresh leads by getting them thinking about their needs (i.e., buying a home in a low inventory market) and ways they can leverage or protect their assets (e.g., using their home equity or getting appropriate insurance)
Use your blog content to fuel your social media platforms - Facebook and Linkedin. Don’t stretch yourself too thin.
Make YouTube and video (it doesn’t have to be Hollywood-quality) marketing another cornerstone of your content marketing strategy. Get comfortable talking to the camera lens as if it was a client you’re guiding through the process.
The key is switching your sales and marketing approach from:
One where you are essentially taking orders and competing on an “everyone looks the same” playing field.
To…
A strategy where you are differentiating yourself by educating and coaching clients, helping them make smart financial decisions during uncertainty with more complex solutions.