In this down economy advertisers are going to have change their messaging. And the more quickly they do, the better off their numbers will become.
Here are a few common sense guidelines for marketing in a recession:
1. Stress the VALUE PROPOSITION of your products or services, rather than features and benefits. Think about how your brand will make a significant difference to your audience in terms they will value and understand. Consider the success of Walmart’s Save Money. Live Better campaign. Talk about throwing a value proposition out there for everyone to see and grab hold of, huh?
It's A Wonderful Life
Working in the advertising business, I get plenty of jeers from my friends and family around the holidays for my role in the commercialization of the holidays. I must admit, that even I at times wish the holidays weren’t so crass and commercial. That was until I watched the holiday classic, “It’s a Wonderful Life” with Jimmy Stewart.
You have no excuse not to with today’s dramatically informative market research methods, which encompass everything from old school surveys to secret-agent-caliber equipment. The market is changing, and market research methods are changing right along with it. They are evolving into increasingly shopper-focused, in-store-oriented techniques… because at-retail is the new mass medium.