Marketing in the New Normal

Planning a marketing strategy in these uncertain times can be nerve-racking, but increasing your awareness of how your prospects and clients are behaving will result in a reduction of risk and an increase in effectiveness of your marketing efforts. Throw out all your past assumptions about marketing your business, go back to basics, and build a new foundation. The following steps will help you get reacquainted with your customer base and learn how they are buying in our new economic environment.

Buying Behaviors
Since marketing exists in an environment you essentially have no control over, understanding the behaviors and changes that are taking place is the starting point for developing a revised marketing strategy. Buying behavior has been shifting for some time now and has changed drastically over the past year. Publishing, business services, equipment manufacturers, travel agencies, retail, and music are just a few industries that have been affected by shifting consumer buying behavior. The changes in the ways that people and companies are making purchases have resulted in these industries having to alter business models in order to survive.

In recent surveys it has become clear that consumers (B to B and B to C) are looking for the best value. That means your value proposition is more important than ever before. Because value is totally perceptive, what you think is added value may have nothing to do with your prospects’/customers’ perception of value. There are several ways to access information on what your customers and prospects are looking for.

Public Perceptions
In addition to surveying your existing customers, either formally or informally, look online to gauge the pulse of prospects. There are thousands of online communities in just about every industry where people are gathering to discuss issues, share stories, and tell everyone what they think. Search blogs, forums, association websites, and competitors to find your customers. The value proposition needs to be created based on their perception, not yours. To that end, customers/prospects are online talking about what they are thinking and feeling. That information is very valuable. There are several free tools you can use:

- Technorati
- Google Blog Search (blogsearch.google.com)
- Ice Rocket
- Bloglines
- Twitter Search (search.twitter.com)
- AideRSS

Use these tools to find out where your target market is, what they are talking about, and what they think about. You will also be able to gather opinions about your competition. This will help you figure out what exactly your target market values in the type of products or services you offer. With this information, figure out what value you can bring to this audience and how that value is different than your competition. For example, a large distributor of industrial products was experiencing flat and even declining sales.

After using search tools to find what they’ve talked about online (forums, blogs, etc.), the distributor found that there was a high level of interest in customizing their product. The distributor created a new custom products department and received so many orders they developed a backlog within two months.

Sales Channels
Understanding the impact of this new marketing environment on your sales channel is critical. Marketing is supposed to make the process of selling easier and shorter, yet marketing and sales often don’t communicate enough. Some of the best ideas on how to market come from the sales channel. They are in touch with the customer.

When developing a marketing plan, attend a sales call (or more than one) to understand some of the dynamics that exist. You will see and hear things that sometimes result in marketing campaigns. Interview everyone involved in your sales channel from the customer service representative to the sales manager. You’ll find some interesting perceptions. Some of the questions you might want to ask are: What are the most difficult challenges you face in selling your product/service? What are the top three most common questions you get asked? What words does the customer use to describe your products/service?

Once you’ve collected all the pertinent information, it will give you an overall picture of what is happening. Involve your managers and key staff in this analysis. Inclusion is a powerful tool. Your employees and staff are just as interested as you are, and may have some good ideas. Once you’ve figured out where your customers are and what they think, the next step is to develop a solid strategy.

Share the Wisdom
We are subjected to over 3,000 marketing messages a day and we’ve grown apathetic to being sold to. Marketing today is about interactions, not transactions. Consumers want to know what is behind the curtain. They are skeptical about pitches that stretch the truth. How often have you seen a commercial or read a print ad and did not believe the message? Why not take the wisdom and experience you have in your company and make it available to your target markets? They want to know what you know. We live in an age of transparency and authenticity. We need to drop the curtain and share our wisdom. That information needs to be assimilated into the creative process. It forms the basis and reasoning for any strategy or creative execution.