economic downturn

Money does make the world go round - if nothing else the Global Financial Crisis has demonstrated this hypothesis in a dramatic fashion. There are global warming skeptics but few 'money makes the world go round' skeptics have you noticed? Arguments are generally about how much of the planetary rotation is due to currency, not if. I digress.

Jeff Carruthers's picture
Jeff Carruthers

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Bruce Temkin describes the two paths that businesses can take in hard times:

1. Manage their way through it In this approach, executive teams react to market conditions by making widespread cuts in an attempt to maintain short-term profitability targets. After the recession lifts, these firms will often need to rebuild their employee and customer relationships. 2. Lead their way out of it

Jeff Carruthers's picture
Jeff Carruthers

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The fundamental nature of online communities and their benefits don't change just because the economy has taken a change for the worse.  Even a whole lot worse... What does change of course, is the quantum of benefits (ie. less consumers reaching for their credit cards...) and the scrutiny that all marketing activities will receive from corporate decision-makers. This brings into sharp relief the inevitable comparisons across the marketing mix. This is a good thing...  if you are prepared!

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