This is the time when marketers should be pushing the envelope, yet it seems like most aren't. They are buying into recession-marketing myths instead of investing in their businesses. That could do them more harm than good.
Don't believe these three common misconceptions about marketing during tough economic times:
1. Things are stable; we shouldn't rock the boat. The boat is already rocking. The market is changing, and will continue to change, even in a recovery. If you cling to the status quo while everyone else adapts, you'll wind up even further behind.
2. We'll let others forge new ground and learn from their mistakes. What some people consider mistakes are actually learning opportunities. Sure, some missteps are more serious, but consider the experience your opponent is gaining while you sit on the sidelines.
3. Our customers aren't interested in social-media interaction. Many customers will be interested in a behind-the-scenes view of your company, or learning something new from your specialists. Employees frequently have the potential to be amazing brand representatives, given the proper encouragement.
Don't approach the economic downturn with a passive attitude; get out there, show 'em your moves, and find some customer-focused ways to make this recession work for you.
Turn Economic Challenge Into Opportunity
Posted by on November 24, 2009This is the time when marketers should be pushing the envelope, yet it seems like most aren't. They are buying into recession-marketing myths instead of investing in their businesses. That could do them more harm than good.
Don't believe these three common misconceptions about marketing during tough economic times:
1. Things are stable; we shouldn't rock the boat. The boat is already rocking. The market is changing, and will continue to change, even in a recovery. If you cling to the status quo while everyone else adapts, you'll wind up even further behind.
2. We'll let others forge new ground and learn from their mistakes. What some people consider mistakes are actually learning opportunities. Sure, some missteps are more serious, but consider the experience your opponent is gaining while you sit on the sidelines.
3. Our customers aren't interested in social-media interaction. Many customers will be interested in a behind-the-scenes view of your company, or learning something new from your specialists. Employees frequently have the potential to be amazing brand representatives, given the proper encouragement.
Don't approach the economic downturn with a passive attitude; get out there, show 'em your moves, and find some customer-focused ways to make this recession work for you.