A good way to relate to your customers is to consider what they are experiencing. The current slow economy/financial downturn/recession can be used as a way to market your business. But how much do you want to introduce the topic so that it doesn’t interfere with your message? There are 3 levels to consider:

1. Never directly acknowledging it
2. Vaguely talking about it
3. Overtly discussing it

Let’s take a look at how each level has been used in a marketing campaign.

Not Even Mentioning It

Sometimes to sell, you need to appeal to your audience without making your message obvious; such is the case with IKEA’s current campaign. Buying furniture may not be the most popular summertime activity, but with people relocating while school is out and students headed back to college, people are shopping in this economic climate. Furniture can be a necessity when you get your first college apartment and need a dresser, or it can be a luxury when you want to redecorate and you’ve got some money to spend. These days it’s more likely that people are shopping out of the necessity. IKEA is appealing to their audiences by keeping the current recession in mind but never overtly discussing it.

When visiting their website the first visual you see on their Home Page is – NEW LOWER PRICES – front and center, in all caps nonetheless.

IKEA Home Page August 2009

Then they display a few of the items that are cheaper now and show what last year’s price was. And, having been to an IKEA recently, I can tell you that the in-store signage matches this campaign by declaring, again, what the new price is and what you would’ve paid if you bought it last year. (It might stoke the coals of those people who actually bought the item in 2008 but so be it.) So this campaign drives sales by showing how IKEA is dropping prices in the current economic climate and emphasizes how IKEA is more of a value now than before. But there is no actual discussion of the economy.

Hinting at It

Charles Schwab did a lot to promote itself back when people were investing heavily and riding the highs of the stock market and they haven’t stopped now that people have grown weary of investing. Why would they spend marketing dollars when people aren’t necessarily looking for their services? For two good reasons:

• Because at some point individuals may decide to get back into the market or to move their money. Charles Schwab can’t know when that will be for each person, so they want to be top of mind.
• Because in lean times, you don’t stop marketing. You might do less and maybe you only market to certain demographics or through certain marketing vehicles but marketing should never be completely halted.

What Charles Schwab has done is to shape their message to instill trust and perhaps nudge investors who are thinking about doing something. Some of the creative I’ve seen includes wording like “Ready to take your financial future off hold? We’re ready when you are.” And “The dust might be settling. I’m not.”

The Home page of their website continues this message:

Charles Schwab Home Page, August 2009

The tone of the campaign is action oriented and positive. It acknowledges the current financial climate and what their audiences may be thinking. Plus it portrays Charles Schwab as helpful and ready – but puts the audience in the driver’s seat.

Talking About It

American Express has launched the Open Forum, a place for small business owners to find information, get insight from others, and build relationships. For this, the message is about being advocates for small business and helping them achieve success. But with the current economic climate, small businesses have been hit hard and start ups are down. So American Express Open takes the approach of talking about the recession to appeal to their audience.

They are running a 60 second TV ad to promote the Open Forum (plus a 30 second pared down version). I’ve seen it during “The Today Show” and “Meet the Press” along with a few other places.

The ad begins with a somewhat somber piano and the voice over: “During times like these, it seems like the world will never be the same. But there is a light beginning to shine again.” The heavy emotion of the words and the repetitive piano set the tone for the ad.

But it ends with the pace of the music increasing and the words, “This is just the beginning of the reinvention of business. And while we’re sure we don’t know all the answers, we do know one thing for certain; we want to help.” As the music swells the American Express logo appears on a black background with the final voiceover, “Come see what the beginning looks like at open forum dot com.”

Here American Express has acknowledged the tough financial times but uses it as a backdrop to promote. They’re also looking to turn the negative into a positive by saying that things will change. The ad takes a depressing topic but spins it in a way that makes it inspirational.

Summary

Each campaign is makes its message clear and uses the current financial setback to frame their message. This approach can work for you just remember to: think from your audience’s perspective; decide what level will resonate more with them; and get to marketing!

Related posts:

1. Your Unique Selling Proposition – Win More Customers by Being the Cheapest, Easiest, or Fastest
2. Marketing Through Children: Recipe for Disaster