Monday, June 15, 2009
In turbulent economic times, the key question facing marketers is, "What is my priority - increasing market share or improving the level of engagement with consumer target groups?"
The changed conditions confronting consumers open up opportunities for marketing and advertising companies to shift paradigms and adapting strategies to consumers' fast - changing behaviour.
Daily, the media churn out reports on the volatile stock market - and new facts of our government's deeds, particularly those of Prime Minister Abishit Vejjajiva, who is determinedly sticking to his guns on his prescriptions for the economy. Day and night, his concern is for the peace and welfare of the masses.
So far, the premier has been unwavering in terms of his positions on the key issues, his sincerity honesty and - most apparently - his energy and willingness to engage with the Thai Public and the World, and demonstrate his belief that things will
be alright in our beloved country.
Similarly, smart companies are busy gathering "street smarts" on how consumers are actually living day-to-day and on their concerns about the future.
Smart businessmen adjust their strategies to strengthen the bonds between consumers and brands. Their ideas are led by consumers attitudes, purchasing behaviours and saving habits.
Corporations and brands gain a for
midable advantage, and see both short - and long term pay-offs, through connecting and reconnecting with the consumer.
The only works, however, if the process of connection is relevant to the consumer, creating not only a mental connection but also an emotional link with the brand.
Relevance doesn't mean strong-arm sales tactics, however. Creating empathy and a sense of shared concern requires simplicity and sincerity in a firm's public relations and advertising strategies.
Pampering consumers using simple language triggers the desired brand choice and a "love-you" attitude. Use the gentle"KISS" (
Keep it simple, stupid! ) strategy.
To cite a few samples, brands like Toyota, Toshiba and Siam Cement Group have invested in a social marketing strategy by embracing the green concept and launching environment-first campaigns.
The same goes for the marketing campaign for M150 energy drink, with its "thinking outside the box" theme, which pushes the idea that this brand is participating in efforts to help relieve consumers hardships.
Recession create an opportunities to shake up the status quo. Companies and brands that don't are vulnerable to broadsides from competitors.
Managers must be in "pre-emptive mode", acting with speed and using the most effective tools to connect with consumers.
Companies like Tesco, DTAC and 7-Eleven, among others, haven't missed a beat in being perceived as part of the government's efforts to restore the economy and generate domestic spending.
Strategically speaking, marketing and advertising executives need to create a new industry landscape that matches the one that consumers now inhabit.
Strategies that emphasise empathy, sharing and caring must be implemented consistently with the aim of increasing a brand's "share" of consumers' hearts and minds.
Consumers love to be surprised - as long as those surprises are consistent with their own needs and concerns.
Kitti Chambundabongse
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