Thursday, 15 December 2016
Marketing strategies to be used during a financial crisis
Hello readers, today I will be talking about marketing strategies to be used during a challenging period. In order to be able to cope successfully during a financial crisis in an economy your business operates in, you must do the following.
- Find an opportunity in the market that other competitors have not explored and focus on attracting new customers. These new customers include the ones that have not been provided with your services as a result of not meeting their requirements. This will help you survive during the financial crisis.
- Promote your products by sending emails to potential customers. This will help you get more customers during the crisis. The title of your email must be catchy so that your emails will be read.
- Build a good customer service relationship with existing and potential customers. That could serve as a competitive advantage. Thus, you can keep in touch with customers that are comfortable with it, this can help differentiate your products.
- A low cost pricing strategy should be used cause the financial capability of customers would have reduced, thus they will be attracted to the cheapest product of high quality.
Thank you for reading this article, keep checking my blog regularly. Cheers!