Marketing Strategy for 09

[Philip Weiss]

Most companies are busy working on their marketing plans for 2009. They are facing a strange situation where next year will present unpredictable challenges, and with new technology playing an increasingly key role it is hard to make intelligent plans. What should be the focus of your current plans? How do plan for unpredictability? I'll be looking at this and more in this thread.

[Mira Bangel]

Interestingly enough John Quelch recommends companies in one of his HarvardBiz blog entries to keep up Marketing spendings for next year. His reasoning: especially in difficult time it is important to reassure consumers.

With all the uncertainty brought to us by the recession people have the tendency to go back to basic values.
Families & Friends matter. Familiar brands as well.

However, be sure to review what your customers' needs are. They might not be looking for the same solutions as they did before the 'big crisis'. Not the same products will matter anymore - time to review your portfolio.

He also emphasizes that promotions will work well since people will be increasingly looking at opportunities to save a few pennies.

Something to keep in mind: Reassurance is not only important for the brand image amongst consumers.
Don't forgot to reassure your employees, your partner network & key clients. What support do they need right now?
Remind them of key values and intentions of your organization.

Last but not least: be the change you want to happen. If you are worrying how can you expect employees and clients to stop caring?
(Hyper)thinking beyond the crisis is the first and most important step towards growth.

Find out more and read the full article here

[Philip Weiss]

I'm not sure about whether at this point there are any magic formulas on how best to approach the recession. It is clear that most companies are freezing marketing spend and reviewing budgets. But in the middle of the current turmoil, the choice is often between firing people in their own organisation or keeping marketing programmes. The key is to get a good understanding of what affects your own sector/organisation and make the right decisions for the long term. More marketing is never an adequate answer. The message need to change so they are adapted to the context - a premium message is much more difficult one to carry then a cost saving one. And, as always, marketing should be effecient. So I see this crisis, more than Quelch, as an opportunity to challenge certain taboos about marketing and rethink what was being done. We are beginning to see this with some of our clients and prospects.