The current recession is the worst since the end of World War II. The affects of the recession are being felt heavily in the toy industry. There seems no relief in sight. Indeed even if the recovery begins, indications are that it will be a jobless recovery or could potentially lead to a double dip recession. No matter what happens with the economy, the toy industry must rethink its approach to marketing and publicity.

The most critical thing to remember is that today’s consumer and how they approach products is entirely different from the consumer of a year or five years ago. Glitz and glamor are out. Practicality is in. Value has been redefined by the consumer and does not automatically revolve around the price. Consumers are looking for products that provide value and satisfaction in non-materialistic ways. Finally consumers are spending more time at home then ever before. These changes are permanent.

These changes mean that the old proven ways of marketing and promoting toys won’t work. Rather marketing of toys should be aimed at these questions that consumers will be asking when they determine what they are buying this Christmas and beyond. Can you imagine your child still playing with a toy a few months down the line or is it simply a novelty item? Does the toy tie in with a fad or a current media hit to such an extent that it might be passé in few months’ time? Being able to persuade consumers on these questions will make the difference between a sale and non-sale.

Toy safety and a toys reputation in the media have always been critical. But just as critical in this new economy is the reputation of the executives of your toy company. Brand name and past popularity will not survive if one of your executives is caught in a scandal. If you are a small company starting out in the toy industry – sell your story of why you got into the toy industry. Don’t talk about profits but about your dream and the fun you have with toys. In this economy that is what people relate too not a tie-in to a fad or media hit but the personal story that motivated someone to develop their toy.

Story tie-ins to trends in the news and changes in lifestyle are key to securing media coverage and reaching consumers in new manner then traditional hard advertising. For example with board games, a great story angle to approach the media with is the renewed popularity of board games with people staying home rather then going out for entertainment. This approach allows for product placement in the media story of a game while conveying to the consumer of the value of your game with their changed lifestyle. Remember in the new economy the key to success is stressing value to a consumer’s lifestyle.

Everyone likes awards. Today, more than ever before, awards given to your toy need to be highlighted to the consumer on everything you use for promotion purposes. Awards more then ever before convey a sense of not only industry approval but of added value for the toy. Highlight the awards you have won or been nominated for on your website. Develop and distribute press releases on the award nomination and then if you win the award. Don’t just send the press releases to the media but utilize them in viral marketing efforts.

Realize that no media is too small to get your message out. Media appearances talking about your toy are unpaid advertising spots. A media interview carries more weight with today’s consumer then all the paid advertising available. To the consumer, a media interview conveys a third party endorsement by the media outlet. Promote all of your media appearances on your website and virally.

Speaking of viral marketing, have an ongoing viral marketing campaign utilizing all of the social network sites. Facebook, MySpace, and Twitter are fast replacing traditional media in popularity. Develop fan pages for your toy. Make sure to update as frequently as possible. Utilize Twitter and gain a strong following. Doing contests via Twitter or Facebook are excellent ways to develop a following that can ultimately lead to sales.

Realizing that the old economy is gone and a new approach to marketing and promotion is critical will mean the success of the toy industry. Hoping for

 

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Rethinking Your Approach to Marketing and Publicity


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