A point of view on the economic recovery

In June I posed a question to my groups on Linkedin "The economic recovery is supposed to be two quarters in - does it feel that way to you?"  Some of my groups are national and some are local to where I live.  It was interesting to hear the various reactions to this question.  And obviously even Ben Bernanke is confused.  Most responders felt the economy will remain flat for several months.  My college alumni group has some very thoughtful answers on how to solve the problem.

But what I found most helpful was that several seasoned executives took the time to remind us that things will and do get better.  Comments like: "The United States has been in this predicament before and we have always come out of it stronger and better than ever."  "Make your own economy by changing what has failed you previously."  "Say to the world it doesn't matter what the economy is doing as this is a great time to build stronger relationships with existing clients and define new business opportunities."  And many people suggested disengaging from the negative, bad news hailstorm of the main stream media.  "They create an ongoing negative perception that doesn't reflect the current economic conditions."

So my take on what I heard is that 2010 is still going to be a bumpy ride but there are pockets of opportunity - they may not be where you or your company have traditonallly played so being nimble will be more critical than ever to success.

Tide for red and blue states

With the primary elections underway it has struck me that soon we will need to have separate versions of basic products such as Tide formulated to appeal to the Red and Blue states.  In the recent primary the citizens of Kentucky (my home state now) decided to select the most liberal Democratic candidate and the most conservative Republican candidate to run against each other in November.  What ever happened to working together and compromise?  Will television advertising and its unifying message keep us focus on what keeps us together?  We all use soap.  Stranger things have happened!  I saw a documentary where the Russian Baby Boomers said their love for The Beatles and desire to purchase their albums helped to bring down Communism.  

How important is the stock market?

I just returned from the Global Department Store Summit in New York and was surprised to hear several luxury retailers say that the gyrations of Wall street can still impact their sales.  I always thought wealthy people were above worrying about how their portfolios might impact their level of spending. But perhaps it is just an indicator of confidence.  As they say in New York "Markets down, bottoms up."  How do marketers exude confidence when the mood of the consumer fluctuates day-to-day.  Several articles I've read support this notion that the consumer is a bit gloomy right now and will be hard to predict.  Holding on to the core essence of your brand seems to be the only way to counteract the mood swings.  But as the Bette Davis character said in All About Eve: "Hold on to your hats. It's going to be a bumpy ride."

What Al and Tipper Gore Teach Marketers

No one saw this one coming and it is a good reminder to marketers.  It is very hard to predict consumer behavior.  All of the demographic and psychographic data in the world would not have had an indicator for this.  Having survived life in the political fish bowl, the near death of their son and a tragic presidential election, what would precipitate the close of this long-term marriage?  Time will tell I suppose.  I don't know about you but for me this will always be a vivid reminder that the consumer is a mercurial beast.

What great films teach marketers

The cable TV went out and so I was forced to find entertainment from my selection of videos.  Mostly old musicals and of course the Audrey Hepburn collection – but I wasn’t in the mood for Sabrina for the 10th time and under a dusty pile I discovered The Best Years of Our lives with Myrna Loy and Fredric March. It features stories of the men returning to the US from WWll and trying to adjust to being home. (Best Picture in 1946)  The most significant moment for me was the scene where the Fredric March arrives home unannounced.  He hushes the children and from the kitchen Myrna Loy calls “Peggy who is at the door?”  Suddenly she knows that it is him.  She stands in the hall, he stands in the hall and then -- they rush to embrace.  There is tension and a full gamut of emotions expressed in that very short scene.  Marketers wanting to create an emotional response from their target audience should learn from this – the message can be in the pause.