SPECIAL SERIES ==> Pricing Beats Loyalty 💸 What To Say During Uncertainty <== | BATHROOM Break #56 COLLAB: The Marketing Millennials + Do This, Not That

Summary

Podcast Summary: "Do This, NOT That: Marketing Tips with Jay Schwedelson"
Episode: SPECIAL SERIES ==> Pricing Beats Loyalty 💸 What To Say During Uncertainty <== | BATHROOM Break #56
Release Date: May 19, 2025
Hosts: Jay Schwedelson (Do This, Not That Podcast) & Daniel Murray (Marketing Millennials)

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1. Introduction to Marketing in Uncertain Times

In this special episode of "Do This, NOT That," hosts Jay Schwedelson and Daniel Murray delve into effective marketing strategies during periods of economic uncertainty. Recognizing the undeniable challenges businesses face in a fluctuating economy, the duo emphasizes the importance of adapting marketing approaches to maintain and even grow customer bases.

Jay Schwedelson kicks off the conversation by highlighting the pervasive uncertainty in the current economic landscape:

“There is no debate on the planet that for the next few months there's uncertainty in the economy.” [01:38]

2. Emphasizing Transparency

Daniel Murray underscores transparency as a pivotal strategy. He suggests clear communication about pricing and potential changes to build trust with customers.

• Pricing Clarity: Implementing promotional bars or notices on websites to inform customers about stable or impending price changes.

• Proactive Communication: For instance, informing customers about possible price hikes due to tariffs ensures they feel informed rather than blindsided.

Murray advises:

“Be upfront with the customer.” [03:21]

3. Competitive Analysis with AI Tools

To stay ahead, Murray recommends leveraging AI tools like ChatGPT for daily competitor analysis. By monitoring competitors' websites for updates on pricing, discounts, or tariff-related changes, marketers can swiftly adjust their strategies.

He outlines a practical approach:

“Take 10 of your competitors’ URLs and every day go into ChatGPT and say is there any new information on any of these URLs related to price changes, discounting, and any mention of tariffs.” [03:21]

4. Pricing Strategies: Balancing Discounts and Value Messaging

While discounting can be an effective short-term tactic, Murray highlights that excessive reliance on discounts may erode brand loyalty. Instead, he advocates for:

• Value Proposition: Emphasizing the unique value and longevity of the product to justify its price.

• Bundling Products: Offering bundled packages (e.g., "Three-in-One" products) to provide perceived savings without directly discounting.

Murray advises:

“Double down on messaging on value and length of value, and how much value that they're going to get out of this product.” [04:15]

5. Managing Sales Expectations and Longer Sales Cycles

Adjusting internal sales forecasts and expectations is crucial. Murray points out that during uncertain times:

• B2B Considerations: Many businesses halt onboarding new vendors, leading to prolonged procurement processes.

• Consumer Behavior: Anticipate reduced sales volumes and extended decision-making periods.

He cautions:

“If you haven't revised your own internal expectations in terms of sales and pipeline, you are making a huge mistake.” [05:08]

6. Focusing on Existing Customers and Retention

Retaining existing customers becomes paramount when acquiring new ones is challenging. Murray emphasizes leveraging current relationships to drive additional sales and maintain revenue streams.

Key strategies include:

• Aggressive Upselling: Encourage repeat purchases from an already engaged customer base.

• Customer Loyalty Programs: Strengthen loyalty through rewards and exclusive offers.

Murray states:

“Retention is everything right now.” [05:08]

7. Communicating Through Own Channels

Beyond website transparency, Murray advocates for consistent communication through owned media channels such as email lists. Keeping customers informed about how uncertainties impact the business can alleviate their concerns and reinforce trust.

He recommends:

“Making people aware what's happening during this time and make ease their nerves.” [06:05]

8. Content Marketing Surrounding Uncertainty

Creating content that addresses current economic uncertainties can position a brand as a thought leader and provide valuable insights to customers. Murray suggests:

• Educational Resources: Offering downloadable guides on how uncertainty affects the market.

• Webinars: Hosting sessions discussing industry-specific challenges and solutions.

Murray advises:

“Webinars about uncertainty in your industry... are critical to be of the moment.” [07:15]

9. Highlighting Local Sourcing

In times of global uncertainty, emphasizing local sourcing can reassure customers about product reliability and business stability. Murray suggests brands highlight their local operations to convey consistency and trustworthiness.

He notes:

“If you're locally sourcing and locally doing things like us based, be like, 'We're US sourced, we're US based,'... which provides certainty to your customer.” [07:52]

10. Conclusion and Key Takeaways

The episode underscores the necessity of adaptability in marketing strategies during uncertain economic periods. Key takeaways include:

• Transparency: Clear communication about pricing and potential changes builds trust.

• Competitive Vigilance: Utilize AI tools for real-time competitor analysis.

• Value Over Discounts: Emphasize product value to maintain loyalty without over-relying on discounts.

• Expectation Management: Adjust sales forecasts to reflect the extended sales cycles.

• Customer Retention: Focus on existing customers as a stable revenue source.

• Proactive Communication: Keep customers informed through owned channels.

• Relevant Content: Create content that addresses current economic challenges.

• Local Emphasis: Highlight local operations to assure customers of stability.

Both hosts conclude by encouraging listeners to follow their respective podcasts for more insightful marketing strategies.

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Notable Quotes:

• “There is no debate on the planet that for the next few months there's uncertainty in the economy.” – Jay Schwedelson [01:38]

• “Be upfront with the customer.” – Daniel Murray [03:21]

• “Double down on messaging on value and length of value.” – Daniel Murray [04:15]

• “Retention is everything right now.” – Daniel Murray [05:08]

• “Webinars about uncertainty in your industry... are critical to be of the moment.” – Daniel Murray [07:15]

• “We're US sourced, we're US based,... which provides certainty to your customer.” – Daniel Murray [07:52]

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This episode offers actionable insights for marketers navigating the complexities of uncertain economic times, emphasizing strategies that prioritize transparency, value, and customer retention to sustain and grow their businesses.

Transcript

[Jay Schwedelson]

Welcome to a new special series called the Bathroom break. That extra 10 minutes, you either have to listen to marketing tips or use the bathroom. Or both. But I don't recommend both. But that's your choice.

[Daniel Murray]

This collab is going to be super fun. We have Daniel Murray from the Marketing Millennials, and me, Jay Schwedelson from the do this, not that podcast and subjectline.com each episode in the series, we are going to go over quick tips about different marketing topics. And if you want to be in the bathroom, fine, just don't tell us about it. Thanks for checking it out. We are back for the Bathroom Break. Jay Schwedelson here. I'm here with the Daniel Murray from the Market Millennials. Daniel, I got a question for you. So me and Daniel made plans. We're actually gonna be going out to dinner. And I need to know, like, I can't get involved with one of these really long dinners. Like, do you order, like, dessert and coffee and all this crap? I just need to know what I'm really getting involved with here. For real.

No, I did not. I'm more of like a go find dessert after. So I won't involve you in that go find dessert after part of it. But no, I'm not the. It's kind of annoying when you, like, ask for the bill and then someone like, at the last minute goes, actually, can I get a coffee? And it's like, you're the only one to did that.

What is that personality trait? That you're that person that doesn't read the room and realize everybody's ready to go? Like, are you just a narcissist or what? What is. Who are those? I don't know.

I have no idea. But talking about uncertain people and uncertainty, what are we talking about today?

So we'll never get political on this show, but there is no debate on the planet that for the next few months there's uncertainty in the economy. That's not debatable. And whether you market to business professionals, market to consumers, you always have to get in the mind of who you're marketing to. And there are some things right now in your marketing that you need to be doing. It's not like maybe I should do it or not. That I don't think enough marketers are doing. They're just hoping it's gonna all go away and you're gonna lose a lot of business. So, Daniel, as it relates to uncertainty, what should everyone be thinking about in their marketing?

One thing is transparency, and it can go both ways. I think one way to do it is like being clear that there with a promo bar or something on your website that there's not gonna be any price in your pricing. Either you're eating the cost or your business doesn't do that. Or two like hey, would they due to tariffs, maybe hitting like this product could see a price hike in the future. So it might be strategic for you to get it now. So at least the someone who was planning on buying something knows and you're transparent ahead of time. Instead of being the brand who raises prices 10, 15% out of nowhere when someone's going to buy that now someone, it's out of someone's price range or something. So the transparency of like actually stating no price hike or actually there's a price hike is something you should be thinking about on your landing page. Because people don't know what has tariffs, they just know tariffs or uncertainties happening in the economy. So like be upfront with the customer.

Yeah. And I would throw in there. Be very aware of what's going on in your category. An easy hack to do right now. Make a list of, let's say all your competitors and get their URLs. Take 10 of your competitors URLs and every day go into ChatGPT and say is there any new information on any of these URLs? There come my competitors related to price changes, discounting and any mention of tariffs. You do that prompt into ChatGPT, the free version. And every day when you do that, you're going to actually see is my competition out there talking about X, Y and Z? Because we need to be living in the moment right now. There's a lot going on and if you're trying to just hope it goes away, you're going, you're going to lose. Because right now loyalty is out the window. We care about discounted pricing on SaaS products, on direct to consumer products. Pricing beats loyalty in uncertain times.

Yeah, and I think I mean going on pricing like if you can't go too far on discounting, the way to do this is double down on messaging on value and length of value and how much value that they're going to get out of this product and how, like how much they're getting out of this product too. So double down on like why people need this product. How are they gonna, like, that's the time to double down on that type of messaging. If you can't because you can do like it, you'll have this for three, five years. Like you like this is Three in one. Like you don't have to buy these two other products if you buy this. Like things like that will help them reframe the cost in their head during these, these, this time right now.

I also would say about reframing if you haven't revised your own internal expectations in terms of sales and pipeline, you are making a huge mistake. I will tell you right now, if you're out there trying to sell, you know, B2B product, a lot of brands are not going to have new vendors go through procurement. They're just not okay. And if they are, it's going to take a lot longer to get through, right? Or on the consumer side, if you haven't factored in the fact that you're not going to have the same sales as you thought you were going to have starting in January. You're just playing a game with yourself. So management of expectations is really, really important. And especially with, with the sales cycle, your sales cycles are going to get longer. The last thing is double down on your existing client base. That is the easiest place to get business when things are uncertain. Go aggressive after your existing clients, your existing customers. Retention is everything right now.

And I mean you just said it because they already in your, in like in your system, you're in their system so you they can purchase more things you can help sell to them. But I also will state one thing is like I know I said up front that you need to be transparent with like on your landing page and on your front facing. But I also think that you need to do this on your own channels as well. Like telling your customers your email list like being upfront in those places too. Like you should make people aware what's happening during this time and make ease their nerves and the best way is to ease your current customers nerves that like because with software especially like they want to be part of a software that's going to last for a long time and if they don't know you're affected, customers don't know everything. You could lose a customer who thinks you might go under because of this uncertain time. Because people usually buy softwares that they know are going to be in business for a long time. It's just logical choice for a lot.

Of people and from a content perspective. Talk about uncertainty. Have downloadable information. How is uncertainty affecting your market? Webinars about uncertainty in your industry Everybody wants to know what's going to happen, right? That is the moment that we're in. So to just talk about regular stuff, you're not going to get the traction that if you actually talk about what is going on. So it's just critical to be of the moment always. And this is a moment. It just is.

I would add one more thing to add to your landing page. If you do this and you are locally sourcing and locally doing things like us based, something like, be like, that's a time for you to double down on that. If you're someone who's like a us based, like, us based products, like, go hard and saying, like, hey, we're local, we're. We're us sourced, we're us based, like, go hard with that messaging right now. Because that would be. Because then it provides certainty to your customer that, hey, they're not going to be affected by all this craziness as well.

All right, so back to the original question about all the dinner stuff. So are you going to be like, okay, let's get appetizers and then you're going to try to order for the table, like a bunch of appetizers, or do you just kind of ride solo? Like, I'm getting this over here. Are you somebody that tries to take control of the appetizer portion of the meal? Because I need to know what I'm getting involved with.

Well, I think, I mean, your wife is taking care of the restaurant. So if it's a restaurant that is like, has food coming out whenever, then that's a different story than we're sitting at a restaurant where, to be honest, Jay is so does not know what's going on any social calendar. So that's true. You ask him what he's. I one time asked him where he's going on vacation and he told me the wrong spot and I'm like, how do you not know where you're going? So he doesn't not know what's going on in his social plans, just FYI.

Oh, my God. This is a constant battle in my house because the way it works, I don't know how you and Ari organize it, but Ali sends me meeting invites and then, you know, I just accepted my calendar. But sometimes I miss the invites and all this stuff and it's a mess. Do you just have, like, a shared calendar? How do you do it?

Yeah, we have, like, we have a shared email that has a shared calendar.

Yeah, I need to do that.

It's just. It's easy. But sometimes we both miss it too. But we only do it for, like, big things that are happening. Like, like this doctor appointments happening or this, like, we're going out with this person. Please Block it off, like, because otherwise we.

Oh, I have a million things, like, haircut, whatever.

Yeah, Jay, Remember to get a haircut. Remember to get your dermatology appointment. Remember to get your dentist appointment.

You couldn't be more right, because, you know, Ali's dermatologist, but she doesn't want to be my dermatologist because she gets freaked. Like, what if she missed something? So she, like, she's like, why haven't you made your skin check with so and so doctor? And I got to do that.

[Jay Schwedelson]

It's a whole.

[Daniel Murray]

I mean, it's a whole thing.

Well, now you know to do it today, right?

Listen, a lot of information shared today. I don't know what we said, but we definitely said it. And listen, go follow Daniel's the Marketing Millennials podcast. It's incredible. Toss the guy a review. He's awesome. And we'll see you at the next. Daniel. Come on, man. I got to get back to work. Get out of there. All right, While he's still in there. This is Jay. Check out my podcast, do this, not that, for Marketers. Each week we share really quick tips on stuff that can improve your marketing and hope you give it a try. Oh, here's Daniel. He's finally out.

[Jay Schwedelson]

Back from my bathroom break. This is Daniel. Go follow the Market Milestone podcast, but also tune into this series. It's once a week, the Bathroom Break. We talk about marketing tips that we just spew out. And it could be anything from email subject line to any marketing tips in the world. We'll talk about it. Just give us a. A shout on LinkedIn and tell us what you want to hear. Peace out.

[Daniel Murray]

Later.