These unprecedented economic tectonic shifts we keep experiencing will forever change the way consumers buy goods and services. The financial services, retail and hospitality industries have been decimated and we still haven’t hit bottom yet.
The HR marketplace has experienced it’s own shifts as well and recruitment services have been decimated, although there is a tree of opportunity as Jonathan Goodman pointed out from the last ERE Expo.
The point being: what we used to think of as economic cyclical normalcy has been replaced with an unrecognizable footprint every day.
And that’s all of us traversing through this brave new business world.
When was the last time you sat down to review your company’s core messaging? Budget tightening has restricted HR’s direct buys and CEO’s, CFO’s, CTO’s and COO’s are calling more of the shots, so have you mapped out who your current buyers and influencers are and what they’re new world pain points are all about?
We’re in the process of doing that ourselves and I highly recommend the exercise. Again, this is a brave new business world and it’s not just about deciding on your marketing message to your prime buyers and occasionally revising per marketing/sales team input.
The media and analyst landscape is changing rapidly. Newspapers are dying and online visibility is critical. Trade shows and print advertising are dead. Social media marketing is integral to being part of your buyer conversations. Blogging and commenting on blogs continues to be important. Best practice content marketing is how you win the hearts of minds of your buyers and influencers, not with free trials and discounts.
Here are some questions to ask yourself:
And that’s only the beginning, but don’t stop innovating and marketing just to do this kind of core business analysis.
- Do you have a mission statement?
- What business are you in? What business do you want to be in?
- What are your business objectives? Marketing objectives?
- Who are your audiences (buyers and influencers)? What are they like? Prioritize and rank the audiences based on importance to your success.
- What are the trends that will impact your market as a whole and your company? Technology trends, market trends, social trends.
Think of it like riding a tandem bike with yourself uphill. It’ll be a blast when you get to the top.
Post by Kevin Grossman (join me on Twitter, Facebook and LinkedIn)
Labels: economic downturn, HR Buyer Behavior, marketing and PR, messaging