Just spent the morning at the SIME VIP breakfast where Forrester‘s Jaap
Favier (apparently a rocket scientist) held a very interesting
presentation on the subject “marketing in a recession”. Quite trimly
subject but as Jaap being a self stated optimized approached it as an
opportunity rather then a problem. Can’t not but agree with this angel.
He continued talking about the 4 basic needs of humans – uniqueness, variety, comfort and connect
– and the shift of customers focus of these in a economic downturn. U-V
> C-C and tided that in to how smart marketers need to shift
there approach to align with customers expectations. This being 30%,
since 70% is planning to stick to U-V, hrm I sometime wonder…
Meaning moving form one way to “open” way communication. Traditional to
social to build brand. Brought out one of the greatest analogy I have
heard in a while – open a bar (comfort and social aspects of
your friends). He gave an illustrative case from P&G’s Ivory soap
(the soap that float) from the last rescission. Touched on that one
need to focus on current business now, build C-C, and then when
things get better start attracting new business. Build loyalty through
connection. Again, agree and I think he touched on some very relevant
approaches for today’s marketers. Another guy how preach the same is
Seth Godin (not a rocket scientist but still), slightly
different angel and talk a lot about tribes now a days.
I just have one thing that I find being a hiding factor when trying to
go social, even if the company in question understands the benefits.
Resources and time needed to manage and make the bar live… To have a
successful bar you can not just pore the first drink and then have the
bar tender leave… you have to constantly pore new drinks. This seem
to be some built in understanding that you do this once and the you
can come back next quarter or even year. I suspect it has something to
do with the old media approach. Either way seem to be true for both big
international companies as well as smaller local. Is this just me? any thoughts out there to approach this?
All in all it was a great breakfast presentation and would recommend to
catch this guy at some marketing event in Europe or become a Forrester
client and you might get a visit.
If you are at SIME tomorrow, drop me a line or two and let’s have a coffee…