It all depends on how you look at it!
Max
Williams, Principal Consultant
Recent data for retail sales suggest
that there has been an increase in retail trade in February - the
latest month for which data is available. If true, that is a clear
indication that the Government's Economic Stimulus Package is working.
That would be wonderful.
On the other hand, cooler heads
are suggesting that it is too early to tell, and we need a few more
months before the verdict is in. At the same time, increases in support
for unemployed workers and increases in the projected rate of
unemployment indicate an economy in steep decline.
Two
major drivers of the Australian economy, the car industry and the
building and construction industries, are pulling in opposite
directions. The car industry is down by 15%, much better that n in some
other countries notably the US and Japan, but still operating with
considerable spare capacity. Reports from the housing industry show a
significant shortfall in housing supply, but major building projects
have been deferred or cancelled.
The confusion over where
we're going is partially resolved by the newspaper article referred to
in this edition of ?Management Memos' - an article which shows two
parts of Australia - one doing well and one doing it hard! Our own
consulting practice shows a range of results. Some clients are doing
very well, and some are working hard to fend off red ink. It's hard to
see a pattern to this - quite obviously there are many factors.
Here at 'Management Memos' we have been advocating for several months
that this is the time to take very seriously the challenge of strong
and effective (although it must be affordable) marketing.
In other words, whether the times are good or bad for you right now,
there is a strategic advantage in driving your business harder - And
there are some suggestions for doing it.
Meanwhile, tough as things are (or
might get), enforcement of workplace laws continue to be actively
pursued. Here are two recent instances of workplace investigations into
non-compliance by employers.
- Federal
Workplace Ombudsman inspectors checked the books of 386 businesses at
Southland Shopping Centre, Dandenong Plaza and nearby industrial areas
and Chadstone Shopping Centre. More than 20 per cent of businesses
randomly audited at these major Melbourne shopping centres were found
to be breaching workplace laws.
The audits, conducted
between September and November last year, revealed that 82 employers -
21 per cent - were failing to comply with their legal obligations under
workplace legislation. -
- And in New South Wales, a Wagga retail
business is back-paying more than 100 staff a total of almost $90,000
after an investigation by the Federal Workplace Ombudsman found it was
underpaying the workers.
It appears that both
instances were treated as 'inadvertent', and no penalties were applied.
All this reinforces the need to apply far better than 'normal'
management skills in the present times. Fortunately, help is available.
T imes have been great for
the last nineteen years! We've been too BUSY to spend time on
marketing. Now, times are tough. We're too BUSY to spend time on
marketing. Doh! That's why 'The Red Zebra' advice to clients is to make
a consistent marketing effort, month-in, month-out. It's so vitally
important. An ongoing marketing program keeps your business moving
ahead through good and bad times.
5 Special
March Offers - end Thursday April 9
(at 11.59pm your local
time. See Details)
Right
now, Australia is having both good and bad times! An article in
The Sunday Age, April 5, 2009, "Downturn or upturn? It depends on where
you live".
Click Here to see the article showing two
Australias - still!
For some, these aren't merely "bad"
times. They are, in Dickens words, "the worst of times." Which is why
it's so important to stop hunkering down and get out there in front of
prospects with a strong marketing effort.
For the others,
times are looking good - but there is still the threat of bad times
ahead!
Here are five ideas to enhance your marketing to
make money - whether the sun is shining or not!.
1 Now is the perfect time to build market share
Right now, many
of your competitors are cutting advertising and climbing into their
bomb shelters.
Which means if your marketing
continues, and increases in effectiveness, you can take business
from your competitors. And keep it.
They say that when
the stock market crashes and "blood is in the streets," that's the time
to buy. Well, when your competitors are asleep at the switch, that's
the perfect time to heat up your marketing!
2 Create innovative offers that appeal to cash-strapped prospects
Any offer that can help your prospective clients save money these
days, is a guaranteed winner.
Can you bundle several
products or services together? Can you offer them at a reduced price?
Great! Do it - your competitors probably won't!
Can you
come up with a 'killer' offer that's time- limited? It'll get sales
going right now!
Any time you spend thinking about
creating a fresh and compelling offer is time well spent. The
propositions you make to customers can mean the difference between
success or failure. Depending on the offer, differences in response of
25, 50, 100 percent and more are commonplace.
3 Think about using postal mail in your
communications mix
Yes. Email is cheaper than postal mail but
that doesn't mean email always pays off at the back end. Here are three
reasons to consider using real direct mail as part of your marketing
program:
Direct mail
gives you the space you need to tell your whole story. If you
write a compelling letter, readers will stay with you. They will NOT
stick with you in an e-mail.
In direct mail, you can use emotion.
In your letter or flyer you can inspire, frighten, cajole, convince,
make cogent arguments, and motivate. Readers just don't want that in an
e-mail. They want you to tell them the facts and get out.
In direct mail you can include
different pieces that you can hold in your hand. A colourful
flyer, a testimonial sheet filled with raves, objective product
reviews, you name it. You never know what's going to capture a reader's
interest or attention. With an email you get pixels on the screen and
nothing more.
4 Try using
"dimensional offers" that cut through the clutter
In the jargon
of direct mail copywriters, a dimensional mailing is a package that
actually has something stuffed inside it (i.e. it has three
dimensions). Often, by adding an attention-getter, you can be sure your
package will get opened.
For example, a while
ago, a mailing piece to "get-an-appointment" was sent to mid-size
companies right through Australian east coast capital cities. It
contained a dollar coin taped to the top right hand corner. The caption?
"Don't waste one more dollar on ineffective marketing."
A bit corny? Too right! Effective? Extraordinarily. The
letters got opened and the company received literally dozens of
appointments.
5 Don't forget - Use
the telephone to follow-up
Direct mail, personalised mail,
mail-outs, micro-marketing, or whatever else you call it, can stir up
interest - but it rarely gets a sale or an appointment by itself.
Typically, a response rate of 1% is accepted as 'OK'.
With telephone follow-up, response rate increase significantly.
Some clients have reported 5% response rates to mail campaigns
with telephone follow-up.
Such campaigns can be difficult
to set up in a busy operation. But with help it works gang-busters.
Remember, there is help available for resource strapped businesses -
it's at The Red Zebra!
5 Special
March Offers - end Thursday April 9
- Click
this link to see each offer and register your
interest
- We will contact you to make the
required arrangements to provide the service completely free to you.
- Only one service of the five listed above is available free to
each respondent or associated business
- A service will be
provided free at only one location where there are multiple
locations for the enterprise
- Services will be
provided in each state, regional location, or New Zealand as soon as
practicable, consistent with our regular commitments
- These
offers expire at 11.59pm local time Thursday April 9 2009. (Almost
midnight Maundy Thursday, the beginning of Easter.)
McNicol Williams Management &
Marketing Services is a Small Business Advisor listed with the Small
Business Victoria, and has presented The Red Zebra program under its
auspices. This listing requires that the first hour's consultation
is always free. So when we say these offers are free, we mean free!
If you'd like to find out more about getting more
powerful marketing right now, talk
to us, or ask us a question here! Remember, there's no charge or
obligation.
This same offer applies in New Zealand. Click
Here!
