Dec 2009
remove yourself from trench warfare.
12/11/09 11:37
Change is a powerful word, a constant, at times overused, but many times avoided. Change is a determined course of action and a revolutionary cry. Extraordinary times call for extraordinary measures, yet change brings about anxiety and apprehension for many marketers. No one wants to make the first move. During these recessionary times, how will the economy get better if marketers don’t follow the “road less traveled”?
If your competition is silent, speak up.
If your competition goes right, go left.
Stop following the herd. Today, it is more important to think about the long-term even though the short-term promises immediate results. Remove yourself from trench warfare.
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
Change is daunting, and let’s be honest, sometimes a bit of a nail biter. But, success wouldn’t be sweeter any other way.
If your competition is silent, speak up.
If your competition goes right, go left.
Stop following the herd. Today, it is more important to think about the long-term even though the short-term promises immediate results. Remove yourself from trench warfare.
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms that maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn't keep up their advertising.
Change is daunting, and let’s be honest, sometimes a bit of a nail biter. But, success wouldn’t be sweeter any other way.
the people remember
12/01/09 09:47
Is the best price all that matters to the cost conscious consumer? It seems that many companies these days seem to think so. They take advantage of a consumer desperate to save money by skimping on what costs companies the most…customer service. Cut labor, you cut costs, you increase profits. It works in the short run, but how will it affect a brand long term?
Corporations are banking on one key issue—the economy. The public is no longer spending money freely like they used to. Instead, they search for the best bargains. So, at this point, it is safe to say that even if you treat consumers poorly, more than likely they will return if it means savings a buck or two. But what happens when the state of the economy improves? Do corporations truly think that consumers won’t remember?
Believe me, they will. When the smoke clears and consumers can finally breath, they will continue to be loyal to those that treated them well. For those that have adopted mediocre consumer relations practices, word of mouth won’t be on their side.
The best marketing or advertising strategy in the world will not prevent the inevitable—the distrust of their core consumers. Yes, everyone is struggling right now, and it’s easy to lose sight of the big picture. The financial well-being of any brand is contingent upon consumer trust and loyalty. When fighting a price war, offering a superior consumer experience is often the best weapon.
Corporations are banking on one key issue—the economy. The public is no longer spending money freely like they used to. Instead, they search for the best bargains. So, at this point, it is safe to say that even if you treat consumers poorly, more than likely they will return if it means savings a buck or two. But what happens when the state of the economy improves? Do corporations truly think that consumers won’t remember?
Believe me, they will. When the smoke clears and consumers can finally breath, they will continue to be loyal to those that treated them well. For those that have adopted mediocre consumer relations practices, word of mouth won’t be on their side.
The best marketing or advertising strategy in the world will not prevent the inevitable—the distrust of their core consumers. Yes, everyone is struggling right now, and it’s easy to lose sight of the big picture. The financial well-being of any brand is contingent upon consumer trust and loyalty. When fighting a price war, offering a superior consumer experience is often the best weapon.