Moving Forward

There is no doubt that these are the most daunting economic conditions we’ve faced in recent memory, and the constant stream of bad news is adding to consumer anxiety. Although there is weakened demand, the reality is that there are still consumers out there. If we have learned anything from past downturns, we know that there are always smart marketers who will still manage to find customers. Of course, the challenge is how to be one of those survivors.

According to the survey “Top Marketing Trends for 2009”, compiled by Anderson Analytics and the Marketing Executives Networking Group, here are 5 marketing concepts that represent the “Back to Core Principles” that companies should be using to survive the current downturn.

1. Strengthen Customer Satisfaction.

2. Focus on Customer Retention.

3. Track Marketing Return on Investment.

4. Build Brand Loyalty.

5. Develop Customer Segmentation Strategies.

To activate this back to basics approach, Anderson Analytics reports that top marketers will increase their use of research, tracking through analytics, data mining and innovative CRM programs. While these concepts may seem obvious, another study by Forrester Research discovered that only 43% of the top 60 US consumer goods companies “offer better service to profitable customers”.