I noticed Joe Reaney's article in one of the Linkedin Group forums (The Institute of Direct Marketing). Again nothing new - focus on selling to existing customers; recycle old ideas and boost service levels are the main points and you can see the full article here:
http://www.redcmarketing.net/2009/05/06/marketing-during-a-recession/
. I was interested in one of the comments about tips for coping with the upswing as some organisations - caravan parks, confectionary to name a couple are seeing a bigger demand for their services. I think that the key challenge for us all is to focus our efforts on creatiing the best tools and processes that can be accelerated or slowed down depending on external factors - things change very quickly these days. This has certainly been a challenge in my role where I am dealing with a large portfolio of products and a significant cost base. Some of the portfolio have been badly affected by the broader economic market conditions - whereas others are trading well. Having flexibility and being able to refocus and repriortise is key to success in challenging markets - whether that challenge is either rapid market growth or rapid market decline!
Leave a comment