#3 (Re)focus

Successful marketers are selective. Marketers facing budget cuts are under pressure to prioritize their efforts and budgets to deliver the greatest short-term reward. Selection means targeting, but successful targeting means only focusing on the highest growth spaces that require the lowest effort.

To make smart choices, marketers need data-led insights into the cost-benefit offering of each opportunity. Backing their prioritization decisions with evidence. Each growth opportunity must be quantified in terms of the opportunity potential it offers, and the brand’s current position or right-to-play in the space. Doing so brings clarity of action: helping marketers identify the highest growth targets and the lowest hanging fruit that can be activated in the context of lower marketing budgets. The result? A clear path to the highest, short-term sales potential.

marketing budgets. The result? A clear path to the highest, short-term sales potential.

But refreshing your perspective and refocusing efforts is about more than targeting effectively: it’s about challenging and redefining traditional targets to broaden the perspective, so it encompasses new opportunities.

A recession puts pressure on many consumer groups, leading to changes in purchase behavior. According to GfK’s Behavior Change Survey in 15 EU countries in April 2022, using a car, going out or enjoying out of home entertainment can be expected to decline, on the other hand, plans for home improvements are on the rise.

In times of change there will be winners and losers. To be successful, brands must spot recession opportunities that emerge out of shifts in consumer behavior.

“Change gives brands an opportunity to rethink their core target strategy, and look for potential new targets that will bring new revenue when their original customer base is trading down. Reflecting carefully on what we call ‘Reachable Fruits’, and what it takes to win them, might offer new avenues of demand. These may come only after increased effort, but will secure future revenue,” explains Rachel Thompson.

to win them, might offer new avenues of demand. These may come only after increased effort, but will secure future revenue,” explains Rachel Thompson.