Marketing success in a slowdownDavid Patrick
I participated in an Experian webinar on marketing approaches to use during an economic slowdown. Presented by Marie Myles, it was a very insightful overview of sound marketing techniques. We all know that the current economic downturn is putting alot of pressure on marketing budgets. As marketers we’re having to work harder than ever to justify expenditure and demonstrate how we’ll generate a positive return on marketing investment. Key messages were the need to concentrate on maximising sales from existing customers: the importance of retention over acquisition. The importance of focusing on the core proposition of our products and services was highlighted and ensuring that customer service is second to none.
By focus on marketing that drives response, this allows us to segment and target our customers and that ultimately by being measurable ensures we can clearly demonstrate the return from our activity. Experian’s booklet on the 12 steps for creating value from marketing is available here