The crisis we are experiencing is impacted most of businesses. In fact, one of the first budget companies are cutting while experiencing a downturn is commonly marketing. Therefore, marketers are in a very unstable situation, where they are asked to do more with less.
McKinsey's explain on its website some of The downturn’s new rules for marketers.
"In previous downturns, many marketers doubled down on large, historically profitable customers, geographies, and market segments. Today, this approach may prove ineffective because the world’s economic woes are affecting customers and markets in unexpected and extremely specific ways. Marketers should therefore toss out those historical expectations and focus on the emerging pockets of customer profitability."
Actually, new technologies and segmentations possibilities make it easier to target these niche markets, which are actually more profitable now than broadcasting a commercial message to the mass market. I believe that anyways marketers will have tough times for the next few months, as market potentials will decrease and they'll probably have budget cuts.
What do you think? How does the crisis has changed the way you market, or your company consider its marketing effort?
