It seems like everywhere I turn I hear about the economic hard times that are coming our way. First, it was broken supply lines, jobs going unfilled, inflation and now recession. Right now, many companies are putting together their marketing plans for next year. What will the economy look like by this time next year? No one seems to know, but I have not heard many people painting a rosy picture.

With a change likely coming, what are you doing with your marketing to prepare for it? A good marketing strategy will plan for both good times and bad times. We like to use triggers with our customers. In other words, we build a measurement device into our marketing plans. For instance, we might say, when we see inquiries for X number of widgets, we will put a marketing emphasis on widgets to gain more market share. Likewise, if we see a decline in inquiries of widgets, we might need to lower the price and advertise a sale, but we may also be seeing a tightening of the market. If your widgets are not essential, your consumers may be putting off buying from you in lieu of items they deem as more essential. This is where your marketing has to be ready to shift. You have to be able to market your products and services as indispensable in tough times. What if they are not vital? There are plenty of products and services people would not do without in hard times because they have become convinced they are necessities of life even though they are not. Think about cell phone service, TV streaming services, makeup, lottery tickets, junk food, etc. There are a lot of items we think we cannot live without. We used to do without them until they were effectively marketed to us. The more you can market your brand as essential, the better you will do during an economic downturn.

The other thing you have to do during changing times is to sharpen your marketing in two areas. The first is getting to the heart of the pain your consumers are feeling and positioning your brand to fix their problems. This will require you to get to know your customers well enough that you hear them clearly. They have fears. They have hassles in life. Sell them on your solution. This makes you indispensable. The second is emphasizing the difference between you and your competition. Especially in changing times, you must separate your brand from all others. Be strategic about this. Emphasize the features, advantages and benefits where you beat the competition, but also meet the needs of your customers. Make this the emphasis of your marketing campaigns in challenging times. When money gets tight, you have to gain an advantage to keep customers coming to you.

Changes are coming. Be prepared for them in your marketing plans. Be ready to make adjustments one way or the other. Marketing plans should not be so rigid that they cannot make this kind of shift. Given the economic instability we are facing, you would be wise to get ahead of the game.