 |
|
 |
 |
 |
 |
 |
 |
BEST PRACTICES :: Recession Threats Spur Alternative Marketing
“The evidence is now beyond a reasonable doubt,” said Scott Anderson of Wells Fargo & Company for the Wall Street Journal. According to a study conducted by the Wall Street Journal in early March, 70% of economist said that the economy is in a recession. What does that mean for your business? “If you remember your macro economics classes, during a recession, extravagant luxuries are the first to be replaced with more efficient, lower-cost alternatives.” Said Justin Downey, Managing Director of Justin Downey Marketing, a full-service marketing firm based in Dallas/Fort Worth. “In other words, when things are going well, people buy steak. When economic confidence is down, people buy beans.” Traditional, broad-stroked advertising and marketing strategies such as television, radio and mass print are extravagant, inefficient luxuries that must be replaced with efficient lower-cost alternative marketing strategies. As seen in our latest article, “Taking Advantage of 2008 Marketing Trends”, alternative marketing strategies such as online press releases, targeted pay-per-click, email, direct mail, and others are becoming the dominant alternatives to the much more expensive traditional strategies. “There has to be a fundamental shift in businesses’ marketing mentality if they are going to keep their marketing costs down and remain competitive in a market with ever-narrowing profit margins.” remarked Mr. Downey in a recent interview. “It’s simply not enough to hit a demographic. We have to target our message as close to the individual as possible.” You can register for “Taking Advantage of 2008 Marketing Trends” with this link: Back to Marketing Best Practices :: Home |
