Marketing in Any Economy

Marketing today more than any other time in history is in constant motion. This is due in part to technological advances and to an economy that’s not just national but global. And just in case you have been in hibernation – both the Global and American economies are having a long winter and spring is not insight! (View Sojo Perspectives http://www.sojoinc.com/insight/perspectives.htm)

The economy changes like seasons of the year. Changing politics, the rise and fall of formerly main stay companies and financial institutions, Wall Street’s uncertainty, cultural diversity, apprehension of war, terrorist attacks and full blown out war all affect – your company’s survival. The take away is that your marketing cannot stop! History has proven time and time again that those companies who stay the course with marketing – SURVIVE!

Ignore marketing and prepare to be buried and it may not be by your competition as in the good old days. Today it could be your own employees, shareholders or customers. With that said marketing then is not just about advertising. It begins with your strategy. Do you have one? What is it? How did it come about? What type of research went into it? If you don’t have one then what marketing initiatives if any are you doing? How has the economy affected you and your customers today? What is your messaging to your customers, employees, shareholders and to the media? How do you manage your departments? By following basic marketing laws you can make your company profitable given any economy.

Communicate a position of confidence, stability and strength, and get the message out to your clients and customers. Many studies show that companies which slow marketing spending lose out now, as well as after a recovery. Let your customers know that they have picked a winner.

Some basic laws of marketing include: Market research; Create a message that represents what you stand for; Know your competition; Know your customer; Know how best to reach your customer – online – offline; Know what your customer expects from you.