Smart Marketing in Tough Times…!
As the spectre of gloom spreads across all sectors of the economy
, phone system manufacturers and suppliers are also bound to experience the ramification of the almost-unprecedented economic down.
With the prospect of corporate buyers cutting down or postponing major purchases looming large, the challenge for the sellers becomes even more daunting. Coupled with that is their shrinking marketing budgets, as unfortunately, marketing budgets are among one of the first to be slashed in tough times under the alibi "discretionary spend".
Marketers should know better, as innumerable studies testify that greater marketing during the hard times yield better results- both for the present and the future. As sales cycles are expected to grow longer, prudent sales and marketing professionals know that they need to have an even bigger pool of good-quality prospects (leads) to work with to meet their key business goals.
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So, what can phone system suppliers do in the current scenario? For starters, here are some simple tips from the perspective of both, product and service offering and positioning as well as marketing and lead generation to overcome present-day challenges.
Bundle products and services - While the convergence of related products and services is nothing new, it becomes even more valuable and significant now. With a bundled product and service, there is an obvious perception that the buyer is getting more for less, besides getting rid of the obvious hassle of dealing with multiple vendors. "One stop provider "might be clich, but the truth is, it seems to work in most cases.
Focus more on value, less on features Marketing 101? May be, but this basic tenet of focusing on user benefits and value assumes enormous significance in tough economic conditions. For example, in good times with more money at a buyer's disposal the latest high-tech features of a phone system might catch the fancy of the buyer, even if he/she may not have a real need for those. However, in the current environment where every penny that can be saved is of interest, highlighting and demonstrating the quantifiable value of these products is a surefire way to success. For instance, a VoIP phone system that a company can use to save thousands of pounds each month will certainly be of interest, instead of a product with hordes of technical features.
Get smart with lead generation: measure and pay for performance Marketers are used to spending quite huge sums on various lead generation tactics, particularly list rentals, direct mails and even catalog / print advertising. All of these are undoubtedly proven, time-tested tactics that have their own role to play. However, the questions you are faced with as a marketer are:
Will these yield me the best results for my spend?
How much control do I have with this spend?
What if we don't get the results we aspire for?
Can I trust the quality of the "list rental" to generate me good leads?
Thankfully, the Internet has created a powerful lead generation medium, which if leveraged properly can do wonders. There are several general and niche lead generation platforms as well as powerful search engines, operating under different models that give you flexible options.
Opt for one that offers a results-oriented, pay-for-performance lead generation service that has a successful track record of generating high quality leads for phone system suppliers. Evaluate the service on the following key parameters:
Payment terms
Minimum commitment
Flexibility in executing the lead generation campaign
Quality control, Service and support
The truly good ones are usually the ones that offer the greatest flexibility and control to the users of the service, as they are quietly confident of their ability to deliver sound results. These companies usually have the technology infrastructure, the automated processes and specialized human resources to ensure a great ROI for you. Most importantly, since their entire stake is in your success at receiving quality leads, you have everything to gain and not much to lose.
Smart marketing is really not about cutting spend; it is about spending wisely to ensure that each marketing pound goes much longer.
To gain more information about how you can spend your budget effectively call 0800 612 9536 now and ask to speak to the account management team.
Smart Marketing in Tough Times!
By: Laura Wimble
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