Archive for September, 2009

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Smart businesses recognise that customers wants are constantly evolving ….

September 7, 2009

I recently had the pleasure of being the only marketer in the room where Australia Scan revealed some amazing market research about the average Australian and how attitudes have shifted, especially since 2000 and more so, since the GFC. In a nutshell, businesses need to recognise and acknowledge that people and businesses are doing it tougher.  Holden did this very well with its recent suite of television commercials. The most important thing is to recognise HOW they’re feeling. In times of uncertainty people are turning to what was previously safe and comfortable for them – they’re looking for businesses that demonstrate good, old-fashioned values and virtues – a guarantee is a must!

When consumers and the marketplace are feeling a little shakey they want to deal with companies that are still visible and actively trading – they want the reassurance of dealing with familiar faces and well-established businesses. Basically they’re yearning to have relationships with people they know they can trust. It’s all about keeping it simple, focussing on what you do best and communicating your value proposition clearly.

Here are Australia Scan’s top ten tips from the past that have seen great businesses prosper, irrespective of economic environments:

1. don’t panic – focus on what are the right things to do. Breathe and then plan.

2.  Stick to basics

3. Watch changing customer values – seek feedback and adjust your marketing appeals accordingly

4. Evaluate your brand/product portfolio

5. Focus on your core audience and the attributes of your business

6. Cut costs, not life support to your business

7. Innovate – your audience is changing

8. Watch relative perceived value, not just your actual price

9. Keep talking – your customers and clients will think you’ve gone bust if they don’t hear from you

10. Position for recovery – and be ready to take off in mid 2010!

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