Anvil marketing your marketing recession proof 0319

Measurable Marketing That Moves You // © 2019 - All information in this document is copyright protected and the property of Anvil Media Inc.
Make Your Marketing Recession Proof
March 14th, 2019
Anvil Media
Mike Terry
Vice President
@AnvilMedia
@PDXAdman

About Me
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—22+ years of Marketing & Advertising Experience
—Survived the post-9/11 recession and the Great Recession.
—Worked with over 200+ brands

Agenda
—Identify a recession
—Take Action
—7 Steps to Recession Proofing your marketing
—One more thing…
—Q&A
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Do recessions just happen?
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No. We see them coming
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Know the signs
— Stock Market
— Unemployment
— Housing Market

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Stock Market 3.12.19
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Unemployment Trend March 2019
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2019 Housing Market Outlook
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— High rental costs impact savings so
people can’t save to buy a home
— Housing prices to high for buyers
— All hope is in the millennials

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Other Factors
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Take Action
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7 Steps to Recession Proof Marketing
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1. Be Prepared
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1. Economic indicators are slowing down now, start preparing.
2. Evaluate your marketing channels – optimize your best performers, sunset
underachievers.
3. How will you defend keeping headcount? How will you support keeping your
marketing budget when the first mandate coming your way is to cut spending?

2. Fight for Your Marketing Budget
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1. Brands that increase advertising spending during a recession, when competitors cut
back, can improve market share.
2. Your customers need reassurance that your brand is still around and a viable option.
Don’t go dark.
3. Be careful what you cut. If you planned ahead you know which marketing channels are
working and which are not. This will allow you to make cuts but on your terms, not the
CFOs.

3. Align Sales & Marketing
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1. Work together, not in silos.
2. Combine sales and marketing efforts to create a single revenue pipeline.
3. Separation and infighting create vulnerability to layoffs and additional budget cuts.

4. Get Creative
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1. Look at which marketing efforts are performing and see if there are similar but
different tactics that will improve sales and revenue with minimal effort.
2. Evaluate digital campaign landing pages, are they hitting best practice standards?
Every part of the funnel needs to be performing. Review, revise, relaunch.
3. Have you been contemplating a new product or service bundle that will deliver value
to your customers? Now may be the time to launch it to a price sensitive market.

Success during the Great Recession
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In 2009, the peak of the last recession, Netflix gained 3 million members. This was due
to their new tv/movie streaming plan, which allowed subscribers to stream an
unlimited amount of entertainment a month, along with their disc-delivery service.
By adding a variety of price plans and different services, Netflix became notable for
what they did, their customer service, and eventually brand recognition. As of today,
Netflix continue to grows with over 117 million subscribers.

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It's not easy to admit your product stinks on national TV, but Domino's Pizza did just that.
Sparked by a consumer survey (with video clips on TV), the pizza overhauled its recipe,
proving change is good for business. Under the new campaign and new recipe, profit
more than doubled in the fourth quarter of 2009, increasing sales for that quarter by
$23.6 million.
The secret to Domino's turnaround was novelty: changing the self-proclaimed cardboard
crust and ketchup sauce to a new, improved pizza brought people in the door. The pizza
giant turned this remake into a financial success.

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The Great Recession was a tough time for toy companies - except for Lego. During
2009, when most companies were holding tight to ride out the recession storm, Lego's
profits soared 63%. Exploration of the global market was the key to this company's
recession-bucking success.
While the U.S. had a stagnant toy market, Lego was able to expand to Asia and
increase its sales in Europe, bringing in the big bucks. For a recent surprise addition to
Lego's profit: after a recent interview where British soccer star David Beckham
admitted he was building a Lego Taj Mahal during his down time, sales soared 663% -
proof that sometimes free celebrity endorsement is the best profit boost of all.

Brands that Failed in the Great Recession
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This movie-rental chain failed to notice the future happening all around it. While
Blockbuster was doubling down on retail stores and dunning its customers with
loathsome late fees, Netflix wooed millions of movie fans by mailing them DVDs and
offering streaming video over the Web, and Redbox set up convenient kiosks offering
overnight movies for a buck. No wonder Blockbuster declared bankruptcy in
September. It hopes to emerge from bankruptcy and fight back, but the company is
now way behind.

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Its audacious off-roaders captured the fin de siècle, faux-rugged ethos of the early 2000s.
But Hummer sales tanked during the 2008 oil-price spike, and Hummers ended up on the
wrong side of the "new frugality" that followed the Great Recession. The end came after
parent firm General Motors declared bankruptcy in 2009, and thinned its divisions from
eight to four as part of its restructuring. For a while it looked as if a Chinese company
would buy Hummer from GM, but when that deal fell through, Hummer was put out to
pasture.

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This Georgia-based gift and stationery chain expanded into the Northeast just as the
recession was gathering steam, and never reached sales levels that would have made
it profitable. The company declared bankruptcy in March. A private firm bought it out
of bankruptcy and downsized its footprint. The company now runs seven stores, down
from a peak of 43.

5. Cut the Right Costs
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1. Companies that cut manufacturing and administrative costs do well in a recession.
2. Companies that cut marketing or reduce product quality underperform in a recession.
3. Cutting ad spend will reduce your income. Research shows cutting ad spend sees sales and
income fall 20 – 30% over the next two years.
4. Cutting ad spend causes damage that lasts longer than a typical recession.
5. Cutting ad spend puts brand at risk and could lead to product and service price cuts that
impact profit margin

Digital Ad Spending vs. Traditional Ad Spending
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6. Turn to Technology
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1. Do you use marketing automation? How do you manage your lead flow?
2. Salesforce and Marketo are expensive platforms, consider migrating to more cost effective
solutions that deliver same functionality at a reasonable price.
3. Evaluate AI technology to assist in customer service or improve the sales cycle
4. Ensure all marketing efforts are measurable, build out data reports using Google Data Studio

7. Be Resilient
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1. Market change is unavoidable, prepare for uncertain times.
2. Anticipate the decisions and reactions from the C-level.
3. Be willing to try new things and invest your marketing dollars differently.
4. Be open to developing a new marketing strategy and proving value at every step

One more thing…
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1. Have your resume updated.
2. Improve your LinkedIn profile.
3. Continue learning.
4. Network.

7 Steps to Recession Proofing
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1. Be Prepared.
2. Fight for the Marketing Budget
3. Align Sales & Marketing
4. Get Creative
5. Cut the Right Costs
6. Turn to Technology
7. Be Resilient

April’s Webinar Topic :: Digital Ad Trends
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Presented by Madelyn Engel, Paid Media Specialist
Save the Date: April 24th

Q & A
anvilmedia.com
Mike Terry
Vice President
@AnvilMedia
@PDXAdman
Amplifying You!

Anvil marketing your marketing recession proof 0319

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