Monday, October 17, 2011
By: Angela Render
I read a recent article on Forbes that got me to thinking about marketing in a depression climate – particularly Internet marketing in all its forms. Heidi Grant Halvorson, a motivational psychologist, asserts that the one trait successful people share, no mater what their field, is trustworthiness. At least, they are perceived as trustworthy.
She goes on to say that a factor in this perception is self-control or willpower. People who overindulge in the seven deadly sins tend to undermine trust. The perception is that people who can control their urges to overeat, smoke, be disorganized, or display fits of temper, are more able to handle situations, and are therefore worthy of trust. From that trust people get better assignments, promotions, and more effective work out of subordinates.
So how does the perception of trust translate to marketing in a depression economy?
Any marketer worth their salt will tell you that a consumer’s perception is everything which is why managing a presence on the Internet, where perception can be changed in a matter of hours, is so important. More than that, the Internet is a place where Brands are held accountable. That perception needs to be backed up by reality or the Brand will be publicly taken to task for it.
Surviving in the 21st century means more than projecting an image: it means living up to it. It means delivering on your promises. It means sourcing product and services that your end user can be proud of, and then pumping up that pride so they’ll mention it to their friends.
Depression spending doesn’t equal rock-bottom price points. Frugal consumers are more careful and scrutinize every aspect of a purchase before making it, including how good they’ll feel about the purchase later. Was it a good value? Does wearing it or using it make them look and feel good about themselves? Will it hold up to use? Did it somehow support their interests whatever those might be – environmentally friendly, made in America, etc.?
If you can make your business live up to higher expectations, you can survive and even thrive in rocky economic times.