It used to be that only certain professions and businesses had to really listen closely with empathy to their client’s needs. Retail businesses in more prosperous times weren’t in the business of playing counselor, coach, or advocate. That’s all changed as consumers around the country are struggling with a bad economy, causing them to change [...]
Chris Anderson, author of “The Long Tail,” hypothesizes that even though classic marketing assumes that 80% of sales come from 20% of your customers, chasing “the long tail” of customers not in that 20% can be a viable online strategy. That’s because online businesses are great at providing choice, something that physical brick-and-mortar stores can’t [...]
There are offline businesses going into bankruptcy everywhere. In a time of prosperity, people rush to buy the latest electronic gadget or to get the latest bath accessories, one for each change of the season. So, your market niche may have done well when the economy was doing well, but now you’ve noticed a down [...]
There’s no question that value is going to be the most important element of the buying decision for most consumers during this recession. But, it isn’t just the consumer that has this in mind. Our entire society is beginning to question the mindless consumerism that has created environmental nightmares and economic bubbles that collapse, leaving [...]
When the bottom line deteriorates due to a poor economy, it’s time to start figuring out whether your market niche has any useful marketing life left. If you were one of the people who owned horse-and-buggy companies when the automobile first came out, your market niche was doomed, but you probably didn’t know it because [...]
There are more and more surprises with this recession. The environment for doing business has certainly gotten tougher, with companies laying off people in order to curtail runaway costs in their budgets. Certain industries are suffering severely, and that might make you think that there aren’t any prospering, but that’s not true. In addition, not [...]
If you’ve delayed learning about the myriads of ways you can earn money in advertising online, now’s the time to jump in. While the economy may be soft, this gives companies more of an incentive to advertise online a bit more. The traditional avenues of advertising like television, newspapers, and magazines are struggling with fewer [...]
Tracking demand isn’t as simple as just tracking consumer demand. In our global economy, in order to track trends in the future marketplace, it takes a lot more than just looking at a particular market niche and consumer demand for the products and services there. This is especially true on the Internet where customers come [...]
