“If I knew then what I know now…”
Posted by Lynn Kaniper | Filed under Advertising, Tips and Trends Series, Travel
At the start of the recession, some companies put the brakes on—a response as natural as slowing down when hitting an icy patch on the road. Marketing cuts are understandable when companies face tough choices about retaining staff or slashing budgets. Long-term plans get derailed when key decisions are no longer in the hands of the marketing team. Whatever the reasons, the results were similar: delayed decisions, reduced spending and postponed plans for new strategies. And like hitting the brakes on ice, the outcome wasn’t what these companies wanted.
Now the recession’s thawing. The road ahead looks a little smoother. And those who stopped moving forward are struggling to catch up. As companies dust off their marketing plans and update the media schedules, you can hear them lament: “If I knew then what I know now…”
As hospitality marketing experts, we know a slowdown is not the time to apply the brakes. In fact, it’s a time to strategically rev up your marketing message to capture the market share left behind by others. Clients who took our advice on this aren’t playing catch-up—they’re out in front of the competition. Here’s how they did it:
Resisting the urge to cut.
When business slows, cutting advertising and marketing reduces business even more. Instead, switch to marketing strategies that can be accurately tracked, so you’ll get value out of every dollar you spend.Focusing on past and present customers.
If you don’t already have a relationship-building program, now is the time to launch one. If your program is in place, ramp it up with new ideas to reward your customers and show them you appreciate their business. This will pay dividends now—and help you retain business during future slow-downs.Mixing it up.
For best results, use multiple marketing strategies to grow your business. In addition to paid print and online advertising (banner ads, PPC, etc.), try social networking, blogs, podcasts and video. How many of these are you using now?Continuing to build the brand.
Shine your image. Polish your reputation. When business is back, you’ll stand out brilliantly in the crowd. (For more about this, see “Brand Stewardship” on Dana’s blog.)
For more about partnering with Dana to seize opportunities in every situation, contact bprewitt@danacommunications.com.
