AP released a story that was posted on Yahoo, claiming that in July perosnal income dropped by the largest amount, causing consumer spending to slow significantly. The article goes on with the usual fears and worries that accoompany a downturn in the economy. The main one being, will the economy drop even further?
For businesses out there, it is time to review marketing practices. Many companies are cutting way back on advertising and their marketing departments are looking for new and better ways to reach consumers. But the issue I have to wonder about is whether the marketing groups really understand people. Do they really understand people at their core or is it all numbers, segments and gemogrpahics to them?
I have listened to enough marketers in my life to know that many have come from fines schools and can employ the most advanced technology. And while the advanced technology should definitely be utilized, I fear sometimes we are moving away from a more immediate understanding of people. Marketing analysis is only as good as the people who can analyze it and, more importantly, relate it to the needs, desires and concerns of the consumer.
While certain marketing tactics may work well in boom times, I fear they are less successful in economic downturns. It is best to know people on an intimate basis and not just on on a quantitative level. In short, to know people intimately is to know what will motivate them to part with the few hard earned bucks they have remaining at the end of the week.
With the adventu of technology, it is possible we have moved away from a more intimate understanding of our target audience. It is not the technology so much that hinders us, it is the reliance on it to the point where we don’t really mingle. We don’t get direct interchange. And even when we are out on the street we are so busy text messaging, emailing or talking on our cell phones, we have little opportunity to gauge what is really going on around us.
Perhaps when you review your marketing plans, you should consider marketers who better understand people. Marketers who have experience and not just degrees. As part of your preemployment screening process, perhaps you should be asking more their thoughts on the times, the issues and their impact on selling goods and services.
Just a thought. But if you look at some of the more cutting edge commercials right now, they harken to a time when marketing was based on human interchange and not just numbers. Who knows? If you are hurting in business, try something different. Recruit marketers who understand your consumer on a gut level. Your consumer may welcome the change.
Check them out before you hire.
