• 12th November 2008 - By Scott

     

    1. We start caring more about our existing customers. Nothing like a recession to make us appreciate the customers we already have – what a shame that it takes this to make us realize that our greatest asset is often the most ignored from a marketing standpoint.

    2. We are forced to get more strategic. When asked to do more with less, most marketers prioritize differently. The things that are strategic and measurable are harder to cut than those that are not.

    3. We can put our focus on growing market share by more carefully targeting the business that we are best suited to handle or where our best opportunities are. This means we focus on the business that we should have – not the just business that we wish we had or worse yet – any business out there.

    4. We lose the dead weight – lets face it, just about every company can lean-up from a staff perspective. When the belt tightens companies often make cuts they should have made already.

    5. We place more emphasis on marketing measurement – this is perhaps the most important point on this list. This recession is happening at a time when online marketing is coming of age. The opportunities to build highly targeted programs that are totally measurable are staring us right in the face. This is a game changing strategy that some will find because of this recession.

    The recession will pass, that is for sure. The question is who will be stronger and who will be weaker when it is over?

     

     

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