Prosperity marketing can leave response a bit flat in a weak economy. What is prosperity marketing? It is marketing that focuses on filling the personal longing for something new and exciting.
This approach works when consumers have extra cash and few inhibitions to purchase the things that please them. It is a very materialistic based marketing and in good times it works well. In bad times, well let's say it just makes people feel badly. It can also cause them to focus within and, in many cases, seek to prioritize their life. They may not envision your product in that reevaluated life.
A poor economy is a motivation for lifestyle changes and it, too, works.
But where exactly does that leave the online marketer? It can leave business owners floundering for an approach that seeks to retain existing customers and welcome new ones to the list of paying clients. Not and easy task, but it might be doable.
Instead of catering to the consumer's basic desires the new approach might be to reimage the product to demonstrate value, quality and genuine need. If the consumer can view your product or service as a genuine need they may be more likely to consider its continued use.
This doesn't mean you fabricate uses for the product it simply means you back away from highlighting the indulgent nature of the product and fix your spotlight on its actual use.
Tesla makes a beautiful electric car. It has a high dollar value attached to it and in the beginning it seemed to be marketed toward those with money to spare on a "Green" toy they could enjoy without guilt.
Electronic vehicles are considered a viable option in an economy that saw huge spikes in oil prices and subsequent price jumps at the pump. While gas prices eventually moderated the idea of low-cost electricity to run a vehicle surged to the forefront of the thinking of many.
Suddenly it wasn't as important to focus so much on style and amenities. Consumers were simply looking for a cost effective alternative to fossil fuel based vehicles.
What was generally thought of as a really cool vehicle that just happened to be electric has turned into an electric vehicle that has the added benefit of being cool.
You may think the difference as subtle, but for marketing purposes they are essential. You focus first on the benefit and quality and then focus on the features that appeal to personal desire.
Focus on the practical. You don't have to eliminate mentioning the 'cool' factor of your product, but you want to do that after the consumer is convinced the quality is compatible with the need.
The average consumer still has personal desires, but Internet marketing needs to respond first to genuine need because that will be the motivation that results in the potential transfer of funds.
Think about your marketing strategy with the following in mind. You may be appealing to individuals who are wondering if they are going to be able to stay in their home, keep their job or get a loan.
When you develop your marketing with an understanding and empathy for the consumer it becomes easier to know what information is most important to those considering parting with some cash.
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ISTANBUL, Oct 3 ?The Group of 20 major nations may blacklist countries that have lax financial regulation and impose sanctions on them, mirroring its crackdown on tax havens, UK Chancellor Alistair Darling was quoted as saying.
Just as we want to go after tax havens, we want to go after regulatory havens as well,?Darling told Emerging Markets magazine in an interview published today.
It is not good for financial stability that some companies can operate out of a Caribbean island, and shelter behind a veil of secrecy, and we dont know what they are up to.?/p>
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