Q: Now we’re in recession should I cut my budget?

• A: Rather than focusing on the budget itself a more sensible focus is re-examining the tactics you have been using and how effective they have been.

  With any campaign, we’d always suggest a targeted multi-channel approach, e.g. a combination of communications that hit your target customers.

  In this climate however you can operate more cleverly by introducing low cost and direct activity such as email marketing and the benefits of such activity against traditional advertising are speed, directness and an ability to monitor those who have read it and even the specific areas (or products) of interest

   

Q: Email marketing is just spam isn’t it?

A: Not if it is done correctly, i.e. you have added the individual to your list with their permission or more commonly, you have bought ‘opt in’ data from a reputable mailing company.

• If you are unsure, or want to discuss the relevance of this medium to your business please email gary@moorishidol.co.uk

   

Q: How is marketing changing during this time?

• A: TWO things you may notice from successful companies at the moment are diversification and segmentation.

  For example, traditional estate agents diversified into lettings and overseas markets when times got tough, but now many even supply Home Information Packs and Energy Performance Certificates.

  The successful ones however started to diversify 12-24 months ago and it is always a good idea from time to time to step back and think about how the dynamics of your industry are changing.

  The message is always try to anticipate trends rather than react to them.

  Segmentation is slightly different in that it can often involve selling the same product or service with a different message – i.e. tailoring ‘the offer’ to the needs of that type of customer.

  This is why the same company often has up to 5 domain (web) and often brand names for the same business – they are improving their chances of achieving impact and relevance.

  A clear marketing plan would help your business to better identify opportunities, set clear objectives and manage budgets, timings and results to profitable effect.