Thursday, April 02, 2009
Marketing Know : How - John Quelch
Congratulations ! Your business is surviving the slowdown ! Here are my seven top recommendations for marketers looking to plan ahead :
1.Focus on high potential customers. Make sure, you focus on building relationships with ambitious customers in growth industries where pent-up demand is going to be unleashed once the economy turns the corner.
2. Don’t assume a return to normal. The longer and deeper the recession, the more likely, the customers will adjust their attitudes and behaviours permanently. Assess your target customers trust in your brand. Assume that your target customers still trust you, but plan to add service support and old their hand more firmly in the short term, even though your service quality, measured objectively, has remained constant. Stay focussed on costs. Economic recovery will not allow producers to let up on tightening cost controls and improving productivity. Know your lead indicators. Every good marketer knows the specific indicators , macro or micro , that predict demand for his or her product in the next period. Use common sense. Develop scenarios.
Know how you can source supplies and expand distribution in a hurry if demand suddenly spikes. Et ahead of the crowd. Craft your recovery plan now and pull the tgrigger when your lead indicators say go. Marketing will again come to the fore as a differnetiator , between successful businesses and also-rans.
1.Focus on high potential customers. Make sure, you focus on building relationships with ambitious customers in growth industries where pent-up demand is going to be unleashed once the economy turns the corner.
2. Don’t assume a return to normal. The longer and deeper the recession, the more likely, the customers will adjust their attitudes and behaviours permanently. Assess your target customers trust in your brand. Assume that your target customers still trust you, but plan to add service support and old their hand more firmly in the short term, even though your service quality, measured objectively, has remained constant. Stay focussed on costs. Economic recovery will not allow producers to let up on tightening cost controls and improving productivity. Know your lead indicators. Every good marketer knows the specific indicators , macro or micro , that predict demand for his or her product in the next period. Use common sense. Develop scenarios.
Know how you can source supplies and expand distribution in a hurry if demand suddenly spikes. Et ahead of the crowd. Craft your recovery plan now and pull the tgrigger when your lead indicators say go. Marketing will again come to the fore as a differnetiator , between successful businesses and also-rans.
