Author: Lauren Mather

The Recession: The Changes that you need to make NOW It is proven that in times of hardship successful companies do not abandon their marketing strategies they  adapt  them. Here is a quick guide to the things you can implement to make sure your business lives to tell the recession tale.

v  Know your customer You need to understand how your customers are re-evaluating their circumstances. It is unlikely that anyone wants to talk about this matter, especially as they may be visiting your business to escape their woes, but you can still keep a record of customer’s purchase history which will indicate whether or not they seem to be cutting back.

You can then use this information to target those who seem to be watching their money with promotional offers. This will encourage them to maintain their loyalty to you and cut back in other areas. A Salon Management System like  Studio Tracker  can help you capture, organise and track client data which will aid you in this process.

v  Maintain marketing spend  This is not the time to cut marketing spend. It is well documented that brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times.

There are, however, ways to market more cost effectively, perhaps by reducing your ad space or by sending out promotional SMS messages which reach customers cheaply, directly and quickly.  Studio Tracker  software has this function and texts are priced at 10 pence each.

v Adjust product portfolios Business owners must reforecast demand for both the treatments and products they sell. Multi-benefit products will weather the storm better than specialised products, but professionals must take the time to explain all the different features and benefits of each product or service.

v  Adjust pricing tactics  Customers will be shopping around for the best deals. You do not necessarily have to cut list prices but you may need to offer more temporary price promotions. Targeting promotions based on clients purchase history has proven to be more cost efficient than just sending out one standard campaign.

Studio Tracker  comes with a number of campaign templates already built into the system. In tough times, price cuts attract more consumer support than promotions such as sweepstakes and mail-in offers. It is worth noting that discounts below 15% are often ineffective.

v  Emphasise core values  Although these are understandably tough times for most businesses maintaining quality is key to survival. Businesses shouldn’t lose sight of their vision.

Managers need to take time to communicate with, and motivate, employees to ensure a good working atmosphere is maintained.

Studio Tracker is a salon management software package which allows you to store, track and communicate with customers in one easy-to-use integrated system.

Campaign templates are built into the system, which allow you to send out personalised messages, such as promotional offers, to customers via SMS.

It can show you the purchase history of your clients allowing you target promotional material more effectively, as well as making cross and up selling easier.

Studio Tracker monitors stock levels, enabling you to monitor sales and re-stock your bestselling products more quickly thus preventing lost sales.

Prices start from just £9 a week. Check out    www.studiotracker.co.uk    for your free 30 day trial or contact    lauren.mather@studiotracker.co.uk    for more info.

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