The last few years have been difficult for company presidents and marketing directors.

We had to all face rising prices—Inflation. And we had to face an economic/buying downturn- some say a recession.

Now, we’re looking at stagflation with both rising prices and slow economic growth.

That is based on economic data and corporate purchases.

Past stagflation periods have proven the importance of marketing better than your competition. Instead of a disadvantage, marketing in this environment can be an advantage.

Having navigated five recessions and two past stagflations, you don’t want to waste time and money doing something wrong.

There are 6 stagflation techniques that you can use:

#1: Recognizing marketing during a recession or stagflation environment is historically an opportunity.Those who cut back or stop lose more market share. Those who increase can dominate the market (see my article, How to Market and Advertise in an Economic Recession, Inflation or Stagflation: Strategies for Surviving, Growing, and Dominating Your Market by clicking HERE).

#2: Make sure all of your marketing is accountable.

The only way to do this is to use direct-response advertising for digital, video, landing pages, and direct mail—all your marketing.

This involves using direct response copy and art.

You always need to know what your cost per lead and cost per sale is.

Knowing what your return on the investment is.

You cannot waste money on things that are not producing immediate direct consumer results.

#3: Try something new, but only test it.

Don’t be afraid to try something new but do it smartly. Most marketers are caught in the past and keep doing what they have always done.

The marketplace has changed.

Google, Facebook, YouTube, and addressable TV have changed—some are better… and some are worse.

Geofencing and the Strategic App Marketing “SAM” have changed how you reach audiences for the better.

Of course, the data has changed now, having the ability to use Transactional Data Modeling ‘’TDM’’ and third-party cookies disappearing.

Use multi-channel marketing. Using multi-channel marketing will maximize your profitability.

When I wrote my book The New Multi-Channel Integrated Marketing a couple of years ago, this was the new marketing and advertising.

It still is. Why?

Because the response rates improve with multiple channels in reaching your targeted prospects by as much as an 86% response increase.

If you are not entirely sure how to do this, get my book, The New Multichannel Integrated Marketing: 29 Trends for Creating a Multichannel, Integrated Campaign to Boost Your Profits Now by clicking HERE.

#4: Try something new but proven. Experiment with direct mail. Direct mail is not dead. It’s experiencing a renaissance. We may be in a recession or a period of stagflation, and it can be one of your most powerful tools. It may be one of the most neglected or overlooked.

Use a new direct mail format such as a newsalog, magalog, or high-quality personalization envelope/letter technique and combine it with Transactional Data Modeling (TDM).

#5: Use Seasonality to your advantage.

Remember that seasonality can be your friend. There are good times to market and bad times to market.

The last week in December and the first few weeks of January are always the highest response rates.

Contact us if you’d like to discuss seasonality in your responses. It will help reduce your risk.

#6: Consider getting a second opinion on what you’re doing.

Whether you contact my team or someone else, get some other eyes on your marketing.

Have them give you either a professional critique or an assessment of what you’re doing.

It will be eye-opening.

It could save you a lot of money and make you a lot of money.

Especially if your response rates are not what you want or you want to get ahead of potential response downturns.

If you’d like to learn more about how to do this, call Michael at 615-933-4647 or email him at [email protected].