Regular readers (and ravingfans) know that I spoke at the American Marketing Association's MPlanet 2009 conference this week. I didn't have the chance to catch too many of the sessions, but I did sit in on the keynote by American Express CMO John Hayes. At the end of his talk, John laid out a set of guidelines for building your brand during tough economic times. You might think of them as American Express' own core marketing tenets, but John presented them as part of his advice for marketers looking to thrive amidst uncertainty.Need some marketing inspiration to keep you pointed in the right direction in 2009? Maybe you'll find some in John's four principles.Establish "customer listening posts" and visit them daily. Not entirely sure whether John meant that companies should create places where their customers can voice their opinions (e.g., American Express' Members Project community, OPEN Forum), that companies need to tune into online conversations wherever they take place, or (I'm guessing) both. He did talk about having personally sat down with top tier financial bloggers, which is obviously a sound first step, although the conversations Amex really needs to be listening to no doubt happen outside the personal finance blogosphere. Interestingly, a Black Cardmember stood up following John's presentation and complained that, even as one of American Express' highest tier customers, he was unable to get satisfactory customer service. John was very gracious and offered to help rectify this Cardmember's issues.In tough times, resist the urge to hunker down and stick with the tried and true. Instead, seek out opportunity and take steps to keep moving forward. Innovate constantly. The marketer that stops innovating in tough times is "carving their brand's own tombstone." It strikes me that this point and the previous one are, more or less, the same thing -- so maybe I missed something or took crappy notes (although it looks like other bloggers got more or less the same points.) Regardless, whether we're talking about one point or two the message is an important one for marketers -- don't use the recession to justify inertia. Financial uncertainty doesn't negate the fact that the world has changed and that the consumer behaves differently (and expects different things from brands) than they once did. If anything, financial uncertainty raises the bar. Consumers are more likely than ever to award their hard earned dollar to those brands that provide the greatest value, build the strongest relationship and connect in the most meaningful way. Be one of those brands -- but don't think you'll get there by blowing your budget on Super Bowl spots (ummm - what's the value proposition there, again?)Be equal parts consumer advocate and visionary. Understand where consumers are now, what their needs and concerns are today, but also be the voice of hope and deliver on the promise of a brighter future. Clearly, consumer advocacy is an outcome of taking the time to truly understand your customers and their needs. Companies that aren't doing this already are heading for a world of hurt. But being a visionary is the difference-maker. During tough times, there is enough bad news -- the consumer knows and lives that every day. As a brand marketer though, you can help the consumer see beyond the near term crunch, provide assurances, and demonstrate a real commitment to helping people survive, thrive and come out the other side. In other words, nobody knows better where we are today than the consumer; it is the brand's obligation to help the consumer see where they can be tomorrow.These concepts are hardly new and some (the last point, most of all) seemed more than a bit like empty marketing boosterism -- but maybe that's exactly what marketers need to hear during a recession. And I suspect that, when delivered by the CMO of one of the world's preeminent brands, the points hit home for a lot of the people in the audience.Do John's four points resonate for you? Comment to let me know what principles are guiding your 2009 marketing plans?
Link to original post