The current economic crisis dealt a huge blow to consumer spending, where sizable drop in demand was recorded all around the world. When the public cuts back on spending, consultants like me will be on the wrong end of the domino game, thus taking the biggest hit.
Therefore it's only logical for me to recommend steps to encourage consumers to spend more. It's not that the lack of demand stops our clients from using our service. It's because they think it's wiser to keep using us and default on payments. Clever eh..
So let's look at how we can move the market out of this recession and make consumers spend spend spend..in light of the current economic mess.
Use extensive fear in advertising
Fear is a well-known theme for advertising. Often associated with health-related products, now its appeal is applicable across a wider group of product. You only need a simple statement like the following:
If you're not buying this product because you want to save money, your company can also stop employing you for the same reason. Think again. Save the economy. Buy more.You can also use graphical descriptions about being jobless and starvation. Pick a third world country and start from there.
Tell them everything is for the sake of saving money
This fever should be more widespread. Tell the consumers everything they'll buy is for the sake of saving money. It should be extended to those luxury goods. Economic value will always work in this economic mess.
"Stop wasting money buying useless wealth statements (like a fake Rolex). Buy a Mercedes."
Let them pay later
With the advent of credit cards, consumers have an established reputation in "Shoot first, ask later" attitude. Translation: buy first, pay (regret) later. So revamp your financial strategies to raise more working capital: give your consumers credit facilities even for the smallest item. Works great if you tie this move with the next point.
Always bundle everything
You should always bundle your products together. Instead of selling a single unit, you should now sell in a package of say...10. And tell them "save more when you buy more". In this trying time, only the first 2 words matters to the consumers.
See my other devious retailing tactics.
Use emotional motivation
When people are upset (no one is happy during economic downturn), they'll become emotionally-charged and will find ways to cheer up. At least that explains the box office trends during both economic boom and slump. You should re-brand your product as a psychological answer to this state of depression.
"Don't worry. Eat ice-cream. Lots of them."
"Shopping is a well-known therapy."
"Money is the root of evil. Learn how to let go. Spend. All of them."
...for blessing this ridiculous Laissez Faire system in the first place, despite them being constantly on the weaker side of the table. This is the time for those anti-free-trade zealots to go to the public with banners like:
"We're the cause of this fall. Now we have to fix it.But these zealots have to do a better job this time. Because as you can see, their protests all this while are just futile.
SPEND MORE. BUY BUY BUY."