Marketing

Balancing Profitability and Sustainability During Market Slowdown

Balancing Profitability and Sustainability During Market Slowdown

Marketing industry goes through a heavily unwarranted time when the global market is down. Sales become less and traditional marketing becomes the outright choice for marketing campaigns to target customers straight to the point. In this comes, “promotional product campaigns” that one can rely on during a market slowdown. 

During the worst market slowdown scenario, people usually cut their budget for advertising and at this juncture, you can effectively turn the table towards your side.

You can always take advantage when your competitors are slashing their marketing budgets.

This will increase the exposure to your promotional product and your market value will increase sizably. 

As your message reaches more audience including the ones of your competitors.

You need to spend more on your marketing and make sure it’s always up and making wavelengths via regular clicks.

When the market will uphold again which always happens after a downfall, the customers will likely remember you more than other brands; since you were visible most of the time to them.

One thing you need to remember is that customers always trust the one which is visible to them, even during a recession.

It enhances the long-standing durability of your organisation and also your legitimacy in their mind. 

Recession affects everyone considerably and even during this time customers choose to buy products carefully from a known source rather than someone who makes a noise and then disappears for a while.

Other measures that can be taken are:

 

1. Bonus or giveaway on your product

You can choose to give any promotional item along with your product that can be utilised by customers.

Any value-added to their purchase can effectively set your brand in their mind.

The products should be the one which can’t be stashed in a drawer or shouldn’t be the one which can suit the trash in a few days.

It should have a lasting impression on customers with your brand on it.

Such custom products can be ordered through speciality stores such as Value Added Promotion

 

2. Advertising through call-to-action

Balancing Profitability and Sustainability During Market Slowdown

If you are promoting your business on digital media or social media platforms, a call to action on your products is a must.

Generally, many advertisers pay more for their call to action on advertising which in turn increases their ROI compared to their spending on advertisements. 

 

3. Brand Relevance

Your product should speak about your brand, it’s easy to have a product, print your logo on it and put it up for sale.

But, your brand should be the one that needs to speak volume through your products.

This is the reason your packaging and the quality of the product is always remembered by the customer.

Your advertising on promotional product campaigns should be very well constructed to drive customers towards a sale.

Aggressive marketing on promotional products will definitely increase your brand relevance during tough times. 

 

Related Article: 10 low-cost marketing strategies every startup can afford

 

4. Trade show

We have seen some customers can heavily depend on items or can remember those which one can see in a trade show booth.

With trade shows, customers can be attracted to have a look at your product and thus, increase in your marketing share during a slowdown.

Even if your market value doesn’t boost up readily, during market expansion, the same customers will remember what they saw and experienced and are more likely to buy from you. 

 

5. Value-added creativity

Balancing Profitability and Sustainability During Market Slowdown

Much of the impact of a brand on a person’s mind comes from the value addition given by a brand with purchase instead of lowering its essence by giving discounts.

If you have a product that can be easily shipped, you can give free delivery anywhere across the state or a food coupon on your next purchase.

If your product is a sensitive one or groceries in case, door to door delivery and making marketing trends like we serve the family of four in this amount can really attract customers to your door. 

So, creativity is a key and discount is not that attractive when it comes to maintaining brand value.

If you give value addition, you will find it more suitable for your brand and thus, promotional product campaigns will take a leap.

 

6. Outsource your promotional product campaigns

If you are busy in maintaining other aspects of your company, outsourcing to expert firms that deals in marketing specifically can be cost-effective and may lower your stress of looking at the overhead of advertising.

Outsourcing is not a new term in the market, most companies do outsource work in order to rely on other aspects of the firm which include product marketing as well.

Outsourcing simplifies your work where you can focus on overall production and future planning as well as new techniques for your firm.

In this way, you no longer need to deal with delays in marketing work or hiring new staff during a slowdown.

Many marketing firms heavily work for promotional campaigns and various advertising campaigns which in turn cut your cost of extra marketing analysis team. 

 

Wrap Up

These are the sure-shot ways towards surviving or striking a balance between profitability and sustainability during the market slowdown.

What is more required is how you capture the market in tough times rather than how much profit you can make. 

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