Marketing Directors must act to secure their customer base

PA Consulting Group's book 'The zombie economy' examined the crisis and the impact it has had on four major economic groups, creating half dead, half alive zombies: banks, governments, companies and consumers. As a result Marketing Directors need to understand what the customer values in a zombie economy, preparing their organisation to survive in a difficult new world.

To order your free copy of 'The zombie economy' please click here.

Marketing Directors face an unprecedented challenge, due to the changing behaviour of companies and consumers in response to the zombie economy. A complex set of factors including fear about the future, debt and a lack of lending mean that zombie companies and consumers are behaving differently. Where they can, some consumers are choosing to pay down debt, others are delaying purchases and investments, while a third group remain unaffected and continue to spend. The picture is uneven, with winners and losers across different markets.

This means that the Marketing Director must act immediately in order to enhance their understanding of what matters to their most valuable customers in a
zombie economy.

By focusing on delivering a clear, joined up marketing strategy, and adapting their offerings and customer experience accordingly, Marketing Directors will secure the right customer base and drive profitable growth. This means difficult trade offs between customer segments and a focus on retaining and growing the most valuable customers.

There are four key priorities the Marketing Director must address in the zombie world:

1. Identify value: an organisation must have a clear appreciation of what the customer values while also understanding the profitability that a customer delivers to the organisation. The Marketing Director can then make clear decisions about the investments they make

2. Leveraging the digital opportunity: digital marketing delivers exceptional return on investment, when it is well executed. Increasing your online presence and capturing useful customer information enables you to learn from your customer base and utilise loyalty

3. Develop a joined up marketing and channel strategy: customers will no longer tolerate a disjointed organisation or a generic customer experience, therefore the Marketing Director must ensure all channels and messages sit within one strategy

4. Deliver against the brand promise: the Marketing Director must ensure that the hard work required to build a brand is not destroyed by an organisation that does not meet the expectations of the customer.

To order a copy of 'The zombie economy' please click here.

To discuss how to steer your business successfully through the zombie economy please contact us now.