Having gotten through Covid, like many, I am considering how we deal with the recession that is being forecast for 2023.
I read that foodservice inflation has hit 15% and that 77% of consumers are worried about rising prices.
We are already beginning to see the impact of clients working out how best to communicate and market themselves in an uncertain future.
Communication will impact future performance
I would say this wouldn’t I, but now is not the time to stop marketing. How businesses communicate with their teams and customers during this difficult time will have an impact on their future performance. With costs rising, price is a key feature of conversations. Now is the time to really demonstrate value and quality to justify prices with effective marketing.
Joining the dots between your marketing and sales
It is a time to prioritise, focus on activity that has commercial value (and not just short-term) and maximise your investment.
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Use a scorecard to evaluate potential projects for marketing investment and make decisions about what you should and shouldn’t be doing (and bring some objectivity into it)
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More targeted and tailored marketing will deliver more meaningful commercial results
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Get the most from the investment in content – use it across multiple channels
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Align marketing with what your customers’ needs are now
Include your people
It’s not just your market and your customers that you need to engage with during tough times. This is the first time that many employees will go through a recession. A hybrid working model also makes communication tricky.
I read a great article by Robert Glazer which gives some insights into communication with teams in uncertain times. In a nutshell, the main message is about:
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Not shielding people from difficult things
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Keep communication fact based
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Articulate how the business is meeting the challenges
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Highlight what people can control and do
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Don’t overspin the positive because people appreciate transparency
So now isn’t the time to stop communication.
It’s about doing it in a way that’s right for the times.
Anita Murray
