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Staying Connected with Consumers in Tough Economic Times

A recent article by Burt Helm in Business Week (“Best Global Brands” Sept 29, 2008) outlined how consumers change so much during a recession that they are often unrecognizable.  Consumers are more conscious about spending their hard earned money. When times get tough, people re-examine old habits and brand loyalties. Their tastes shift dramatically as they cut back.  

Panels and private communities show their real strength in an economic downturn by providing that instant insight into how customers are changing. They also provide a great resource to test new marketing, product or ad direction that would appeal to this new customer.

In Business Week’s annual ranking of the 100 Best Global Brands, several companies are keeping their US marketing budgets steady, relative to revenue. Some companies see the recession as the perfect moment to get a leg up on a weakened rival while others strengthen their brand to ward off discount competitors.  

If you’d like to speak with one of our industry experts on how a custom panel of private community can help during a downturn, contact Caroline Hickton.

Posted on October 2, 2008
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