T minus 4 until eBoost Consulting's next Executive Education day.
It's almost 8pm, getting dark outside but I'm wired like cable, people! Nick and I are kicking it here in The Pod, vibing to a J.Dilla tribute mix and working on putting the finishing touches to the data we're highlighting for this Saturday's Executive Education day. Topic: Preparing for the Upturn.
Inspired by the 25 Random Things Facebook note, I decided to jot down 25 random things that may not make the cut in the day's session. Hey, it's only 9 hours...can't expect us to place everything in there, can ya?
- Companies that maintain or increase marketing during recessions reap a 3.2:1 sales advantage.
- A 1% share of voice over your competitors equals a 1% increase in share of market.
- On average, only 10% of customers in any category buy exclusively on price.
- A regression analysis on Twitter's rise in unique visitors and the decrease in the Dow Jones Industrial Average suggest a causal relationship between Twitter and the current recession.
- During recessions, tech spending falls more than the GDP.
- Customers buy more of less discretionary items in the downturn.
- Customers increase spending in education, reading, personal insurance, health care, and food at home during recessionary periods.
- Know your customers.
- Don't market with a tone of fear. Market your core values.
- Drop your weaker distributors.
- Focus on reliability and performance in your marketing message.
- There's a key distinction between price cuts and discounts that shouldn't be ignored.
- Acquire brands if you're in a good cash position.
- Maintain frequency of marketing, decrease duration.
- NPS. Learn to love it.
- Euro Sexy Micha Mikailian. Learn to love him.
- Shift your resources to your key profit pools. Use the SNAP to zero in on a concise offering.
- Those who use the traditional marketing survival kit in downturns often times make the wrong bets in the wrong segments.
- Anticipate competitor moves.
- Plan for long-term customer loyalty programs.
- Be decisive when given the opportunity to build, buy, sell, or partner.
- Social media marketing is like guerrilla marketing. Takes more time than hard costs.
- Securing a method to budgeting comes before cost cutting.
- Increase direct marketing channels.
- Email marketing to be used as an acquisition tool in downturn economies, not just a retention tool.
Ok, that's enough for you. Another slice of Zia's eggplant pizza for me and Nick (the official caloric sponsor of Executive Education class preparation).
yours in carbohydrate stupor,