Here are several excerpts from an interesting article by Andrew Boyd, Chief Research Officer for the Aberdeen Group, 3 Low-Cost or No-Cost Customer Management Tips for Uncertain Times:

In a recessionary environment, sales and marketing managers should prepare themselves for lengthened sales cycles and decreased pipeline velocity. Tried and true tactics that have always worked — e.g. month-end discounting, bundling and promotions — will begin to sound increasingly desperate as sales reps struggle to make the quotas that were set months ago in the budgeting process. Customers — those in a buying mood — will buy on their own terms, and it is increasingly unlikely that they will be “sold to.” Therefore, price erosion will take hold as vendors struggle to adapt the new competitive conditions.

With reduced headcount and frozen budgets, organizations may be tempted to put technology and capabilities investments on hold. However, now is the time to act; below are some low- or no-cost actions organizations can immediately take to retain a competitive edge though tough times…

Read the rest of this entry »

bookmark to:

Here’s an interesting post by Juan Gutierrez of Pandemic Labs, Viral Marketing: Is it the Flu or are we Infected?:

Viral marketing, a colloquial name given to a subset of social media marketing, is growing like a wild weed. Traditional marketing giants like Unilever and Comcast, to name a few, are increasingly active in using the SMM tools to promote their brands and interact with consumers.

One has to wonder: is it just a flu or has the virus spread so deep as to become a reality?

I firmly believe we are on the way to a pandemic, and SMM will rule modern marketing. Yes, we are infected (in a good way) and there is no vaccination. However, I still feel the virus is just showing its symptoms, and a few things need to happen before it settles in and becomes reality. Let me give you the reasons why I believe we will get irremediably sick, why that is a very good thing, and what I think will have to happen for us to get there.

There are plenty of reasons to explain why SMM will be huge. I know everyone has favorites, so I will dare to give you mine…

Read the rest of this entry »

bookmark to:

Here is an insightful post from one of my favorite marketing bloggers, Ardath Albee,  Lead Nurturing Belongs in Your Recession Strategy:

I’ve seen so many posts about how to fight the negative impacts of a recession on  business success that it’s making me crazy. Why is it that people wait until it’s announced that we’re finally in a recession before they start doing what they could’ve been doing all along?

Customer-focused lead nurturing is one of the best ways to prevent experiencing an adverse impact to customer acquisition during a recession.

Here are a few meaty reasons why lead nurturing is a recession buster…

Read the rest of this entry »

bookmark to:

Here are several excerpts from an interesting article by Joshua Weinberger, Managing Editor of CRM Magazine, The Litany of Retail Woe: 50 Chains Shutting Stores:

A frighteningly long list of retail closures came across the transom during the last few days, and while I haven’t yet fact-checked every point (stay tuned for links, chronology, etc.), I quickly found enough supporting material to merit republishing and amending the list.

The sheer breadth of the damage here is breathtaking. The bloodbath crosses every kind of retail sector, and is clearly not just a reflection of the tough times we’re in, but a harbinger of worse times to come.

Every closed retail location may represent eventual savings for the company involved (after shouldering the actual costs of the close itself, that is), but also represents dozens or even hundreds of out-of-work employees (who are, after all, someone else’s customers), reductions up the supply chain, and rent and taxes removed from that store’s local economy.

In other words, this is bad news with ripple effects that will be felt for months and years to come. (For starters? According to one report, “Consumers will lose $100 million this year on worthless gift cards, from restaurants and stores that have gone belly up.”)

Things don’t look like they’re going to be getting better any time soon given the following news reported in an AP article today…

Read the rest of this entry »

bookmark to:

Here are several excerpts from an excellent post by Ardath Albee, Customer need or wishful thinking?:

According to B2B Marketing Trends 2010, a report by the Institute for the Study of Business Markets, the #1 trend getting the attention of B2B marketers is:

Develop approaches and methods to better understand what CUSTOMERS REALLY NEED, beyond what they can say or articulate. Opportunities to CREATE REAL VALUE.”

Here are a few points to consider when sussing out the needs of your customers…

Read the rest of this entry »

bookmark to: