A feature on Monday night’s BBC 5Live Drive made me smile. In it their business reporter was commenting on the next day’s papers and the economic headlines.
In the space of 12 hours, Steve Ballmer CEO of Microsoft had talked about the recession being U shaped, meaning we hit the bottom, would coast a while and then hit growth. Things wouldn’t, in his view, be getting any worse. In another paper, Michael Geoghegan CEO of HSBC was talking about the risk of a W shaped curve, where growth follows the initial recession but we then hit recession and then growth again (the old boom and bust argument).
They then went on to talk about the less cyclical V curve (recession then growth) and the L curve which is probably the worst of all, a slump leading to long term depression.
But what does this mean for budding Marketing Assassins?
You need to know how the recession has affected your market and where to focus your energy. This will determine if your strategy is still the right one – greater penetration of a saturated or declining market is not an avenue you want to go down. Maybe development of a niche market or diversification into a new area with a slightly modified offering may be the way ahead.
Have you struggled but have now started to see the green shoots? Or have you been making hay during the recession? Do you now have reason to be concerned about being caught out or caught up by competitors better placed to take advantage?