I have been a sponge for stories about how organizations have reacted during the turbulent times that defined 2009. Sometimes, I have watched in horror as managers panicked and unraveled strategies that had previously made sense. Other times, I have watched marketing and innovation at work as necessity forced managers to reevaluate assumptions held of the market and/or how to reach customers. One example is the explosion in the use of social media - without the recession, marketing managers might not have been so quick to embrace and experiment with social media and include it as an integral part of their marketing communication strategies.
Here is a list of 10 lessons that I believe define good marketing practice during the turbulent times we experienced through 2009.
- Be customer focused and remember that customers are the reason you are in business.
The economic circumstances of 2008 and 2009 were beyond our comprehension - after all most of us did not live through the Great Depression and many of us were not in senior roles during the 1980s recession. The recession will pass and adversity has brought about some positive change and important lessons for marketing.
Jenny Darroch is on the faculty at the Drucker School at Claremont Graduate University. She is an expert on marketing strategies that generate growth. See www.MarketingThroughTurbulentTimes.com