1. Trade Image for Measured Results.

In tough times people are choosier. They want to get their money's worth. They want to see tangible results today.

You're a people, too - right? So spend less on expensive image ads. Spend more on simple ideas that dramatize the real difference between you and The Other Guys. Talk value not hype. 

Track results daily. Count phone calls, home page hits, store traffic. You can often measure the traction of one ad in three days, or of an entire campaign in three weeks or less.
 

3. Look like you're Worth More.

V>P>C.

Perceived Value must be greater than Price or there's no sale.
Price must be greater than Cost or there's no company.

That rule applies universally and without regard to the current economic statistics.  Even if you have to cut prices, don't try to look suddenly cheaper than The Other Guys. Low price speaks for itself. You should still LOOK like you're the highest value in your category. When the next high tide does roll in, you won't have to repair a cut-rate image. (See also Burkhard's Laws.)

4. Call your own company.

Try to buy something from yourself. See how many buttons you have to push to get to a human. Tell that person what you're looking for. Use a fake name. Be a little vague. Disguise your voice. Listen carefully.

Does your telemarketing team know your brand, your technology, your shipping rates, your website... cold? Do they know what ads you're running today?  Slickify your TMs, too.

5. Call your best customers.

Ask for an unvarnished testimonial. "Could we quote you, sir (or madam)?" Record the calls. Add gush to your sales materials and direct mail. Better yet, post the original audio on your website. 

Even better, make testimonial radio spots, run them on high QA cume radio stations at far lower prices than TV or print.
 

6. Aim Higher.

Why aim low in tough times?  Bottom feeders are tapped out. Run your ads in media that reach the top two household income quintiles. Run creative that makes you look like you're worth more than you cost. Use the Steam Principle to get next week's shoppers this week. 

7. Water around the edges.

Your natural inclination in a recession is to concentrate on core business: best-selling brands and best-buying customers. That is correct short-term strategy, but don't totally ignore the brands and customers at the fringe. When the economy rebounds, they will show the first signs of growth, so nurture them, too.

Run a Brand Resistance Survey (it costs zero) to find out if there are any "Yeah, but..." objections out there that your next round of ads could easily defuse.  

8. Try something New. Anything.

When sales are in a slump everyone in your company gets depressed. If for no other reason than as a morale booster, try something new.

Test a new campaign in one or two markets. Try a different piece of direct mail. Track results. You should plan to launch an new initiative every six weeks. If one in three pays out you'll be way ahead of The Other Guys.
  

9. (BONUS!) Hire Us.

Most of the people who work on your brand have never been through one recession. I've been through four. 

Anybody can be a hero in a boom.
We can be your heroes in a bust.