Getting response in a down economy

getting response in a down economyAll of us who work in the direct marketing industry have been affected by the economy.

In fact, the economy has affected pretty much everyone in advertising, publishing, or media.

So, last year, when the pain really started to set in, I decided to write a white paper to provide my take on the situation and provide some sound advice on dealing with it.

The results was Getting Response in a Down Economy: 4 Key Principles to Boost Your Direct Mail Profits in Today’s Difficult Market.

In just under five pages, I reveal the challenge of today’s market, what’s really happening out there, 6 key truths about your customers, the hidden opportunities of a down market, how to get your mind right, and the four key principles to improve response to your marketing efforts.

I then spend the rest of the 37-page report providing simple, actionable tips and resources for surviving (or even thriving) in today’s marketplace.

Here’s a quick excerpt:

Understand Your Customers

Each morning when you wake up, say this five times: “It’s ALL about psychology.” This is true for the economy and it’s the key to direct response advertising as well. Your customers are uncertain and afraid, but they are still essentially the same customers you’ve always had.

All the same psychological principles apply, though some are now playing a more prominent roll. By understanding this and allowing this knowledge to guide your selling strategy, you can give yourself a powerful advantage now and in the boom years to come.

Has any of this changed? No. People are still people.

However, while a well-written headline and eye-catching photo can still make someone want what you’re offering, your customer’s fear and logic circuits are now operating on overdrive. They need stronger justification and greater value than ever before. They also need more assurance that their financial risk is minimal or even that the purchase will save them money.

These aren’t foreign concepts. We know these ideas well. Today’s market simply requires more attention to them than when the marketplace was flush with cash.

So if you are savvy enough to sell with one set of psychological conditions, you are savvy enough to sell with another set. In fact, as a direct marketer, you are better equipped to adapt to these modified conditions than virtually any other type of business.

Click here to download the entire white paper.

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2 Responses to “Getting response in a down economy”

  1. Joshua Black | The Underdog Millionaire on May 11th, 2010 3:10 pm

    Thank you for sharing this with all of us Dean. I know that I have definitely felt the economic hit in my own business. People are making sure that every dollar they spend is going to bring them back a real value and if we can develop some strong business in this current economy, then it will really boom when things pick back up again.

    -Joshua Black
    The Underdog Millionaire

  2. Larry Addles on January 27th, 2011 5:47 pm

    I think your right about this, even now when the economy is starting to recover and spending is gradually increasing businesses are focusing on things that will result in more direct improvement. However its hard to recommend a median that may result in direct improvement if a company or business is not willing to do everything necessary to overcome many consumer objections.

    -Larry Addles

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