Marketing in 2009: Where do we go from here?

We’ve been here before. We learned. When the economy turns around (and, believe it or not, it will), those who made smart choices during the downturn will come out strong and will rush to capitalize on their successful business platform. Our job is to help make those “smart choices.” And what does that mean, you might ask? Is the right thing to invest more in marketing, cut back, change direction or stop everything? And how do we decide? The answer, of course, is: It depends! Every situation is different and requires both analysis and action. What we say at AIR is “Prescription without diagnosis is malpractice.”

We are a result of the choices we make. My mother has often told me to “Bloom where you are planted” and/or “Sew new seeds diligently.” In 2009 we have more communication options than ever before. Although we can’t ignore a challenging economy or the fact that in many cases ad budgets are being slashed, what we can do is build on our successes to date and capitalize on new opportunities.

“Bloom where you are planted.” This underscores the need for a smart marketing direction. First of all, if you’ve been measuring results, stick with the highest-performing channels and messages. Second, put your money into supporting sales results with a focus on what differentiates you from the competition and offers that can’t be refused. Third, stay the course so that your current customers see, hear and feel your presence. Shoring up existing relationships and getting referrals from your loyal customers is cost-effective and has exponentially high return on marketing investment (ROMI).

“Sew new seeds diligently.” Here’s where new media channels come into play for 2009. B2B Magazine reported this month that 60% of B2B marketers plan to launch new ad campaigns next year. iMedia Connection posts show that interactive, online and mobile marketing opportunities are rapidly expanding and are a great place to test new ideas. Experienced marketers use down times to expand their “communities” or launch new products and services that meet the direction their market is moving.

All of this requires thoughtful analysis of where the opportunities are going to be when the economy recovers and how the customers of tomorrow will want to receive information about what you have to offer. Using analytics to find out whom to target and what media channels to use will pay for itself by targeting new customers with the highest propensity to buy your services, which results in higher sales conversions and bigger per-purchase spends.

The goals you set for 2009 are yours, and in every challenging time there are more than a few opportunities. We will know who makes what decisions and how they fare going forward. The journey is what is worth paying attention to. Who was it who said ”You can’t get to second base with one foot firmly planted on first”? Our job as leaders is to manage risk and weigh the risks associated with potential rewards—so no matter what you decide to do, don’t forget to measure the results. It will help you on the journey of CPI: continuous prosperity improvement.

Here’s to a measurable 2009. Enjoy the journey!

photo credit: julie_g

Tags: advertising, Analytics, CRM, Direct Marketing, marketing in 2009, ROMI