With the current market, people can sometimes make the mistake I mentioned recently (the curious case of the missing business) and cut back on their investment in growth, which can result in undesired results actually being caused.
As other competitors reduce their marketing, it does mean that your own initiatives can become more effective as there is less noise to distract people.
Its something I did recently, offering a discount for tax returns in April. Whilst it can be somewhat unusual for discounts to be offered by an accountancy practice, there is a win win for both myself and the client. The client saves money on their accounts and tax return, as well as having the reassurance that their affairs are completed ahead of the deadlines. Once they know the tax liability for the year they can then plan for it and concentrate on their business rather than worry about tax. The benefit for me is that it reduces the year end workload, and increases capacity to take on more new clients in January 2013.
I have noticed a few other companies use marketing strategies for a win/win – for example my garage Gatwick Honda recently ran a promotion for a free healthcheck on your car, together with a free breakfast and also including a complimentary car wash and Hoover! From the customer’s point of view the benefits are obvious, for the garage it continues customer contact (Honda’s are so reliable that they rarely need to visit the garage apart from routine servicing), as well as potentially allowing preventative maintenance to be undertaken should it be required.
Do you think a win/win promotion could work for you and your clients?
I’d love to hear about your plans… Please do share them in the comments below.
