Marketing in a Recession

Here are a few tips to consider to focus your efforts:

¨ Customer satisfaction is #1 priority - Acquiring new customers, particularly in recessionary times is many times more expensive than selling to existing customers. Keep the customers you have happy and engaged.

¨ Don't spread resources and efforts thinly or to broadly across the market.

¨ Consider reducing your product portfolio, focusing on your most profitable or leading products.

¨ Reevaluate your distribution network. Is it to big? Focus on those that are producing continued results.

¨ Strive to improve productivity of promotional activity, particularly the sales force.

¨ Lower or minimize costs in areas that do not contribute directly to sales or the product.

¨ Consider giving responsibility of key customers to the management team, freeing sales force to focus on new business and less demanding customers.

¨ Control all major deals and discounts from a management level. Don't let the attractive terms offered for large opportunities drift to everyone.

¨ Keep the heat on key products, key marketing activities and key customer relationships.