Bob Carrigan at IDG introduced me to Rex Hammock. Good, indeed great blogger. This post confirms it:
“Athletes often choose times of stress to mount attacks: strong runners and bicycle racers may increase their pace on hills or under other challenging conditions,” the authors write. “In a similar vein, proactive marketing includes both the sensing of the existence of the opportunity (a tough hill and fatigued opponents) and an aggressive response (possessing the necessary strength or nerve) to the opportunity.”
A warning, however: The research indicates that it is only when companies are prepared for recessions (like cyclists who train for hills) who benefit. Thus, Apple with its pre-existing marketing and advertising savvy and a mountain of cash, is likely to benefit during this recession, as it has in previous ones, rather than another company whose marketing is inept, even in less challenging times.
Bottomline: “Hunkering down” is not the metaphor you want as your guide when planning your marketing efforts for the coming months — especially if your marketing has been working and your competitor seems to be huffing and puffing already. Hunker down wherever you can — say, executive compensation — but use a recession to raise your visibility, not hide.
Right – a down market is a perfect time to bottom feed.
I think Rex’s point is it’s the time to put the hammer down on your panting competitors and watch at they lose grip of your rear wheel and bonk on the Col d’Brand.
Buying competitors, kicking competitors who are down, stealing competitors girlfriends. Right – bottom feeding not the right term…
I couldn’t agree more with Rex. Tough times are when companies demonstrate they have come to adulthood. And, for g-d’s sake, this is business. I’ll steal my competitor’s girlfriend anytime! (even if my wife beats the **** out of me afterwards)
What’s all this talk of girlfriends?! Recessions are a great time to show your leadership position. If you offer better products, better service and have the marketing smarts to communicate this news more efficiently than your competitors, that’s a shame for them. You’re not stealing their customers, they never really served those customers. (I hope I didn’t just invite further extension of the girlfriend meme!)