A Weak Economy Impacts How You Market Your Business.

A Weak Economy Impacts How You Market Your Business.

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“It has obviously been a year of a lot of uncertainty,” Laura Beech, director of online acquisitions and partnerships for American Express, said. “Am I going to have my job? Am I going to have my house? What’s next? So what’s important is staying authentic, staying consistent.” One example is the firm’s Blueprint set of tools to help people better manage money–a way of emphasizing the brand’s core identity while also appealing to consumers’ desire to feel in control. “Showing [customers] that [during the recession] Amex will do what it always has done is important. It’s security,” said American Express.

“There are a lot of things in their lives that are out of control. … What we can do as brands is to try our best to make the consumer feel savvy,” said Douglas Brand, a senior brand manager at Campbell Soup. At Campbell’s, the goal is to reassure customers that in buying a particular brand, “I made a good decision.”

Walmart ads show how those savings can contribute to customers’ lives. Consumer confidence is lost due to the banks, foreclosures, along with many people losing their jobs. Consumers are looking for reassurance during uncertain times about the things they buy.

Many of the consumers are very skeptical and are not willing to spend a lot on splurge items. They need to feel confident in what they are buying. Branding, consistent authentic messaging is key in this market. Consumers are well informed about the products they are buying. They often know more than the staff at the store level.

Reference: Forbes