Jul 30 2008

Marketing strategy - when the going gets tough, the tough get creative

Published by admin at 10:19 am under SME Marketing

If life is starting to get a little tougher for you now, then perhaps now is the time to break the mould and redefine how you do business. It’s easy to get stuck in a rut with familiar marketing techniques that have worked well for you in the past, but if they are no longer generating the business they used to then it is time for a rethink.

As strategic marketing consultants, we are used to seeing companies who have come up against a brick wall - their tried and trusted approach no longer able to take them through to the next phase in their development. We believe that you need to start by by taking a look at the world around you to understand the underlying issues that you are facing.

Perhaps you can see some trends developing, which will need to be tackled head-on and managed in the months to come. Inside your organisation, what are your own financial strengths and weaknesses and how can you manage them better? What impact will this have on how you manage your marketing? Once you have taken a close look at how the current climate is affecting your business, your competitors and your customers, you can then decide what course of action to take:

  • A defensive stance - a case of battening down the hatches, keeping the competitors at bay and keeping your customers buying from you.
  • An offensive strategy- an altogether braver move to exploit any opportunities and take advantage of your competitor’s vulnerability.

We strongly believe in the latter course of action in most cases as it is a trueism that those companies that continue to invest and innovate in their marketing activity and approach in tougher economic times are the very same companies that will emerge stronger and bigger when the economy improves.

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