Creating marketing order from Chaos in bad economic times

Great article in July's delivermagazine.com by Anne Stuart called Create Order from Chaos She interviews marketing guru Philip Kotler about his new book "Chaotics: The Business of Managing and Marketing in the age of Turbulence."

In his book, he has a wealth of information about how to adjust your marketing in these uncertain times.  He believes that consumer behavior is affected in three ways by this economy listed below. I comment on how this effects you as an online marketer.

1. They are shifting to lower price offerings:

This is not a shock to you.  You're doing it yourself, so you know it's true.  In the case of your current offerings, don't be loathe to examine how you can re-work some of them to reach a lower price point.  Don't feel that you are 'cheating yourself.' Look at it as a nod to reality and make sure you have a host of price points for every audience.  Also add value to lower price points you currently offer.

2. They are postponing or eliminating discretionary purchases:

This is a signal for you to look at your marketing copy and remember to REVERSE the risk as much as possible.  If you can remove the fear, you can get movement.  (Here's where you should be glad you're an ethical marketer who eschews the hyperbole.)

3. They are cutting back on eating out and driving and staying at home:

Perhaps it's time to turn that conference into an online offering.  Also you should be using tools like GotoMeeting.com so no one is spending money they don't have on travel. (Webster's dictionary added 'staycation' as a new word in case you're interested.)

Check out the article in which Kotler gives you eight ways to flourish now.

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Great post Gerd, exactly what you said, many people are attracted by such online advertisements and end up loosing their money. Ethical marketing was exactly the point that I had kept in mind while deciding to choose a web designing company for website for my cardiology clinic in Los Angeles. I have hired a web designing company, who is having a proficiency in medical website designs named Medical web Experts. Including the points you have specified, one of the important thing that I considered is the amount of experience they had in website design, and especially in medical website design. They have a gallery showcasing their expertise at www.medicalwebexperts.com. They are currently working on the website. But I hope this effort would help me bring patients attention towards my clinic.

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I agree that people are looking for lower price alternatives. I work in search marketing and our industry is growing rapidly in the downturn. However, I have friends in other areas in marketing that are finding it very difficult to find work since returning from overseas. I think that companies are looking to channel their marketing dollar into areas that will provide accountability and scaling back marketing initiatives purely for brand awareness.