Originally uploaded by Tony the Misfit
In my previous blog post, 3 Ways Marketers Will Mess Up In This Recession, I described 3 human responses to a crisis such as our economic crisis.
But there are also reactions to this crisis that are more positive.
As I’ve mentioned in my earlier post, “When Wolves Knock At The Door,” recessions have a way of thinning the herd. And now we’re seeing major brands in trouble.
And while certain brand categories will fare better than others during these troubling economic times, I think it’s pretty safe to say there are going to be a lot more brands in trouble. The way I see it, if some of our favorite brands are in trouble, then what will become of the brands that weren’t that strong even in good times?
We’re in an economic crisis. And it’s interesting to see how people react in a crisis. Here are 3 possible kinds of mistakes I believe marketers will make in this recession in reaction to the crisis:
1.You’ll stay in your comfort zone.
An economic crisis is very uncomfortable, to say the least. So what happens? People will try to offset the stress by maintaining their comfort zones any way they can. So marketers will continue to work with the same ad agencies and other advisers, even though, there are better options out there.
You’ll continue to use traditional media rather than consider generating digital word-of-mouth through social media channels. Why? Because it’s comfortable. Anything that’s unknown seems too risky. You have found routines that give you security and until now, a certain amount of predictability. It’s during times like these, that people are looking for any comfort zone they can find. You may not understand why you should rock the boat. But if you don’t rock the boat, it just might sink anyway.
Meanwhile your competition may be getting a foothold in social media. They’re seeking out new branding strategies while making product and service innovations. And if your customers like what the competition has to offer, they just might jump.
2. You’ll freeze up.
You know you need to do things differently, but you can’t make a decision about what to do. It can happen in big companies and small ones. They get caught up in paralysis by analysis. There’s a lot of talk about “We need to do something,” but you’re not doing it. Meanwhile your competitors are already at work creating new marketing and plotting to steal market share.
3. You’ll live in denial.
While some sectors such as housing and the automobile industry were the first to get body-slammed in this recession, the fallout may be more gradual for some other brand categories. Do you have a plan in place when for when you do start to feel the pinch? Or will you simply wait until that happens to figure out what to do? I believe that the best time to prepare for a crisis is before it happens.
I know there are other ways marketers mess up during a recession, and may blog on them later. But I think for now, there’s plenty right here to think about.
–Kevin McIntosh
In my recent blog post, 5 Marketing Questions To Ask In A Recession, I discussed how October 2008 changed everything. Business is now more competitive than ever. As a result, most every business out there will have to re-think their marketing. Most will also have to improve their products and services. Because recessions like the one we’re looking at right now have a cruel way of thinning the herd.
We’re now seeing brands suffer that we never dreamed would. Most notable, the 3 major automobile manufacturers, who are now relying on the US government to bail them out. Circuit City has declared bankruptcy and is closing all of its 567 stores. Even Microsoft announced today that they’ll be laying off 5,000 employees, the first massive layoff in the company’s 34-year history. These are just a few examples.
While marketing isn’t the only reason some of our largest brands have suffered, I do believe in many cases it has played a role. Obviously business strategy has played a major role, as well.
But now, the playing field has changed for just about everyone. And competition is heating up.
All of this reminds me of a game we played in my copywriting course in college. The game was called “Knock-Knock.”
The way the game worked was, we all had to line up outside the classroom door. Then one by one, we’d knock on the door. Our professor would crack the door open. At that point, each student would have to say why the professor should open the door. And the professor wouldn’t let us in until we came up with a good reason.
I now understand and appreciate that game more than ever. It was a very simple yet effective demonstration of how marketing really works.
Right now, you’re probably having more trouble getting into some doors. Or perhaps you’re already on the inside, but you feel the pressure of trying to stay there because you know others are now knocking to get in and take your place.
Your relationships with your clients and customers may have kept you where you are for some time now. But when times get tough, relationships will get sacrificed for the bottom line. As the saying goes, “Nothing personal, it’s just business.”
As I’ve said before, October 2008 changed everything.
Are you developing the right kind of marketing strategies and brand messages that will push your business to the other side of this recession? Are you implementing social media strategies to create digital word-of-mouth for your brand? Are you giving your audience a reason to open the door that is better than the reason you had last year?
If not, you might want to get serious about your plan for 2009. Because you can bet that someday soon there will be wolves knocking on your clients’ doors.
–Kevin McIntosh
By now, you’ve probably heard about President Obama’s social media campaign that he ran in the race for the White House. Well, now that Mr. Obama is officially the president, the official White House website is reflecting the President’s commitment to transparency with a blog as well as other social media tools.
The White House Website
The site features a form where visitors can interact with the Office of Public Liason. Also featured is The Briefing Room where the President’s weekly video address can be viewed.
There are some excellent slide shows including a collection of portraits of the US Presidents as well as a slide show of the presidents’ pets.
The site will be supervised by Macon Phillips, the Director of New Media for the White House and one of the people who will be contributing to the blog.
–Kevin McIntosh
