The decisions that business leaders make in the next year will decide whether their brand thrives, survives or dies for the decade to come, according to Tyler Turnbull, Global CEO.
· Protect and hyper-target your existing customers and focus on getting them to buy one more time instead of growing into new buyers.For starters, the average duration of a recession in the last fifty years is only 11 months. And some economists predict the looming recession could be even shorter. That means that for many organizations, the strategies they are focused on now to mitigate will barely hit the market in time.
History offers us a map, but new consumer behaviors, technology and commerce make navigating this period different from the past.For starters, choice has never been more abundant. Search for any product on Amazon or Walmart and you can see thousands of skews and options. Sort by price. Pick the lowest and get what you need. And with inflation, people’s price sensitivity increases. Meaning it’s more important than ever to have a strong value-added brand. Without one, the lowest price wins.
But improved technology and targeting is a double-edged sword. It’s never been easier to hyper-target and segment, but all leaders should be wary of the siren’s song of maximum efficiency. Growth is about attracting new people, not squeezing every dollar out of your existing customers. Especially because they might not have an extra dollar to squeeze during these financially challenging times.
Creating timely communications means deeply understanding people, their experiences and the best moment to connect with them. Riding the wave of a cultural moment, in addition to having compelling advertising, creates a powerful way for brands to differentiate themselves and stand out.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lamborghini Huracan could become an 850-hp PHEV next year | AutoblogLamborghini's plunge into electrification starts next year with the next-generation Huracán and its plug-in hybrid powertrain. Here's what that could look like.
Read more »
Spy x Family is the next crossover anime you need to watch | Digital TrendsSpyxFamily has become the latest anime sensation thanks to its refreshing brand of genuine wholesomeness among a self-made family of assassins.
Read more »
Lake Tahoe Billionaire Real Estate: Move In Next To Mark Zuckerberg For Only $38.5 MillionHere is what is currently available for those wishing to join the Lake Tahoe billionaire club, including a stunning lakefront estate in the same neighborhood as Mark Zuckerberg.
Read more »
Ramen Lord returns to the next Monday Night Foodball - Chicago ReaderChui does exactly what you tell it to do. That’s the name of Mike “Ramen Lord” Satinover’s gleaming, new, half-ton Yamato Richmen Type One ramen noodle machine, currently in residence in the living room of his West Loop apartment. It’s named—or at least I’ve named it—for one of the minor AI drones in the classic manga […]
Read more »
Opinion | The Next Installment of the Jan. 6 Committee Could Be Pivotal'The content of the January 6 hearings may be even more important than the ones on Watergate, because the focus today strikes at the heart of our democracy: the peaceful transfer of power based upon the vote of the people.'
Read more »
The stock market's next big rally might just be a bear in bull's clothing“Powerful rallies are not a reliable signal of whether a new bull market has begun,” columnist Mark Hulbert writes after counting the average number of rallies that have occurred from new bear market lows since 1900.
Read more »