The “R” Word Will Change How We Market

29 10 2008

Well as if having a Credit Crunch, a near meltdown in the banking sector and a property market starting to go into freefall wasn’t enough now we’re going to get a recession too.

 

Very few people will be insulated from the impact of the recession, and even those who are not directly impacted will still no doubt be somewhat more cautious in their buying behaviour, which will make life even more difficult for any business trying to sell anything.

 

It does make you feel that when business is booming it’s easy to market anything to anyone. If people are in the mindset to go shopping then all the retailer needs to do is guide their purchasing decision to your physical or virtual door.

 

However, over the next couple of years those marketers who genuinely appreciate the importance of building a lasting relationship with customers, and those marketers who can think laterally and find intelligent ways to change consumers’ mindsets (to get them back in shopping mode) will be the ones whose businesses will pull through the recession with the fewest bruises.

 

Put simply marketing professionals who have had the luxury of big budgets to throw at off-line campaigns will have to quickly adjust to these new trading conditions, and also be prepared to be inventive in the ways they intend to target their customers.

 

Undoubtedly we will see a significant and continued increase in on-line marketing activities for example: effective SEO will be essential along with the intelligently planned use of PPC and affiliate programmes.

 

At the same time it will also be more important than ever to segment your market, identify your target customers and then fully plan the most optimum campaigns to help keep sales rolling in.

 

If only it was that simple!

 

 

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