Marketing Strategies for Uncertain Times | Bathroom Break #56 🚽

Summary

Podcast Summary: The Marketing Millennials
Episode: Marketing Strategies for Uncertain Times | Bathroom Break #56 🚽
Release Date: May 19, 2025

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In the latest episode of The Marketing Millennials, host Daniel Murray teams up with Jay Schwedelson from the Do This, Not That podcast for a special collaboration titled "Bathroom Break #56 🚽". This episode delves into effective marketing strategies tailored for navigating uncertain economic times. Amid light-hearted banter about dinner plans and calendar management, the conversation swiftly transitions into actionable marketing insights essential for businesses facing economic volatility.

Key Topics Discussed

1. Transparency in Pricing
2. Monitoring Competitors and Market Trends
3. Emphasizing Value Over Discounting
4. Managing Sales Expectations and Pipeline
5. Focusing on Customer Retention
6. Effective Communication Channels
7. Content Strategy Centered Around Uncertainty
8. Leveraging Local Sourcing for Customer Confidence

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1. Transparency in Pricing

Daniel underscores the importance of transparency in pricing strategies during uncertain times. Being upfront about potential price hikes or assuring customers of price stability can build trust and prevent unexpected surprises that may alienate customers.

• Daniel Murray [02:13]:
  "One thing is transparency. And it can go both ways. I think one way to do it is like being clear that there's not going to be any price hikes in your pricing... Or two, like hey, due to tariffs, maybe this product could see a price hike in the future."

2. Monitoring Competitors and Market Trends

Staying informed about competitors' actions is crucial. Daniel recommends leveraging tools like ChatGPT to regularly monitor competitors' websites for updates on pricing, discounting, and tariff-related changes.

• Daniel Murray [03:21]:
  "An easy hack to do right now. Make a list of 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 these URLs related to price changes, discounting, or tariffs?'..."

3. Emphasizing Value Over Discounting

In times of uncertainty, discounting may not always be sustainable. Daniel advises businesses to double down on value messaging, highlighting the long-term benefits and multifaceted utility of their products to justify costs.

• Daniel Murray [04:15]:
  "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."

4. Managing Sales Expectations and Pipeline

Adjusting internal sales expectations is vital. Daniel points out that prolonged sales cycles, especially in B2B environments, require realistic forecasting and adaptable strategies to accommodate delays in procurement and decision-making processes.

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

5. Focusing on Customer Retention

Retaining existing customers becomes even more critical during uncertain periods. Daniel emphasizes aggressive engagement with the existing client base as they are the most reliable source of ongoing revenue.

• Daniel Murray [06:05]:
  "Double down on your existing client base. That is the easiest place to get business when things are uncertain. Retention is everything right now."

6. Effective Communication Channels

Maintaining open and honest communication with customers through various channels—such as email lists and social media—is essential to ease customer concerns and reinforce the brand's stability and reliability.

• Daniel Murray [06:05]:
  "You should make people aware of what's happening during this time and make ease their nerves. The best way is to ease your current customers' nerves."

7. Content Strategy Centered Around Uncertainty

Creating content that directly addresses the current economic uncertainties can resonate more with audiences. Daniel suggests webinars, downloadable resources, and insightful articles that discuss the impact of uncertainty on the market.

• Daniel Murray [07:16]:
  "From a content perspective, talk about uncertainty, have downloadable information, webinars about uncertainty in your industry."

8. Leveraging Local Sourcing for Customer Confidence

Highlighting local sourcing and operations can provide customers with a sense of stability and reliability. Daniel recommends firms to emphasize their local presence to reassure customers that they are less likely to be affected by broader economic disruptions.

• Daniel Murray [07:52]:
  "If you are locally sourcing and locally doing things, like US-based products, go hard and say, 'We're locally sourced, we're US-based.'"

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Notable Quotes

• Daniel Murray [02:13]:
  "Transparency can go both ways. Either you're eating the cost or your business doesn't do that."

• Daniel Murray [04:15]:
  "Double down on value messaging. Highlight how much value the customer is getting out of this product."

• Daniel Murray [06:05]:
  "Retention is everything right now."

• Daniel Murray [07:52]:
  "Emphasize your local presence to provide certainty to your customer."

Conclusion

In "Marketing Strategies for Uncertain Times | Bathroom Break #56 🚽", Daniel Murray and Jay Schwedelson provide a wealth of strategies tailored for businesses navigating economic uncertainty. From maintaining transparency and focusing on customer retention to leveraging local sourcing and adapting content strategies, the episode offers actionable insights aimed at safeguarding and even strengthening businesses during challenging times. For marketers seeking to adapt and thrive amidst uncertainty, this episode serves as a comprehensive guide.

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Transcript

[Jay Schwedelson]

Welcome to a new special series called the Bathroom break. That extra 10 minutes, you either have to listen to marking tips or use the bathroom.

[Daniel Murray]

Or both.

[Jay Schwedelson]

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. We are back for the bathroom break. Jay Schwedelson here. I'm here with the Daniel Murray from the Marking 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 do 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 is. Who are those people? I don't know.

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

So, you know, 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 going to all go away and you're going to 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 going to be any price hikes in your pricing. Either you're eating the cost or your business doesn't do that. Or two like, hey, 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 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. That 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 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. It's a whole. I mean, it's a whole thing.

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

Listen, a lot of information share 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 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 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 shout on LinkedIn and tell us what you want to hear. Peace out.

[Daniel Murray]

Later.