I’ve collected some thoughts to help marketers take an empathetic view toward planning for ’24 🎉 .
- Anticipate & Strategize: As a recession looms, it’s not about cutting costs but redirecting marketing resources wisely. This a good time to tackle big strategic business challenges.
Build a brand roadmap for 2-3 years, not just 6 months
Step: What you can do with current budget and infrastructure
Jump: Increased budget, same infrastructure
Leap: Increased budget and new infrastructure - Understand Customer Priorities: In challenging times, analyze where your product stands—whether it’s a need or a luxury—for your customers.
Run simulations to understand how customers a affected by the current recession - Adapt & Innovate: Different market segments react differently. While discount stores might boom, luxury sectors may decline. Adjust marketing efforts and offer value-added services accordingly.
Continue to think value add, consumers are going to be squeezing services for value - Consistent Empathy: Marketing should consistently convey empathy. Avoid disconnects between what customers see and what they experience with other departments.
Ensure you don’t mix and match messaging that goes from empathetic to hard sales - Value Internal Communication: Employees are your first audience. Practice transparency about company health, and ensure your internal messages echo the empathy shown externally.
Work alongside HR to ensure the marketing message is embraced by everyone.