When facing a downturn in the economy, we often look to the past for lessons on how to deal with the present. What did other CPG brands do to weather the last recession? Which brands increased profit and exposure when consumer spending was down? Which marketing tactics helped them gain traction, and which were a bad use of their budget?
While we can learn lessons from the past, we must remember that consumer behavior is ever-changing. Attention spans have gotten shorter. Audiences are fragmenting into smaller niches, and new niches are overlapping every day. In other words, throwing content at the whole world doesn’t work. Instead, targeting is crucial, especially during a recession, because you need to reach the audience most likely to engage with and buy your products.
So, what can you do to ensure you’re reaching the people who are most likely to engage with your brand, buy your product and then tell their network about it? Following are a few tips. More