Synchronize Your Marketing Pitches in a Tough Economy

by Rick Chapo

Well, welcome to the end of the world. At least, that is the impression being given by the pundits. As usual, the hysteria is a bit overblown. Are things tough? Yes. Will it last? No. As always, things will turn around. It might take a few years, so until then you need to rethink your marketing efforts.

Marketing campaigns often run the fine line between success and failure. This is a function of the business world, but also reflects the fact many people have become lazy in the last 10 years or so as consumers have spent money at record paces. You see businesses expanding their product lines and marketing pitches into areas that are not really within the traditional business brand.

A classic approach to moving product is to entice a customer who is considering buying something with the prospect of getting a better deal if they buy the product and two more things. Americans, after all, are famous for their inability to resist a perceived good deal. Indeed, this strategy has been a staple of most marketing campaigns in one form or another for a century or more.

The bonanza of consumer buying in the last 15 years or so has made a lot of businesses profitable, but it has also introduced an element of sloppiness into their marketing. Simply put, they no longer have a synchronized product offering. For instance, I noticed an advertisement in the paper this morning for a jeweler offering a free iPod with the purchase of a diamond tennis bracelet. This is a poor offering.

An iPod is a fabulous product and one that is making Apple money hand over foot. That being said, an iPod is attractive to a younger market. While a younger market might like to buy and receive a diamond tennis bracelet, they rarely can afford it. Instead, the tennis bracelet is more attractive to a mature audience. In general, this mature audience is probably not infatuated with the idea of an iPod.

Put more directly, these offerings are not synchronized. While each is a great product in their own, they make a poor combination. It is akin to a Ferrari dealership offering a free tank of gas if you come in. If you can afford a Ferrari, you probably are not particularly worried about the cost of gas.

Consumers have put their wallets back in their pockets and purses. If you want them to take them out, you have to make a disciplined marketing pitch to them. Make sure product combinations make sense and are synchronized.