In this dismal economic climate, marketing executives will face many challenges, including how they should invest their time and dwindling resources this year for maximum payback in the future. Pam Danziger, president of Unity Marketing, offers this advice: invest in consumer research to jump start innovation.
“In this new year of 2009, marketers can get the jump on their competitors, especially those who have their heads in the sand and are waiting for the recession to pass. With business in a funk, now is the perfect time for marketers to get proactive by planning for the future. They must lay a foundation for growth once the current recession lifts. The best return on their investment in a prosperous future will come by investing in consumer insights. Marketers need to focus on seeing ‘over the horizon’ to understand their current and future customers and how their shopping behavior will change once the recession is over,” said Ms. Danziger.
According to Ms. Danziger, a new survey found that while senior marketing executives (who are members of the Marketing Executives Networking Group) widely expect budget cuts this year, nearly 75% will continue to invest in research and development as well as innovation initiatives to plan for the success of their post-recession businesses.
More info: www.unitymarketingonline.com