Very challenging economic times have resulted in an interesting bifurcation of marketing strategies.  As to be expected, many companies have looked to the bottom-line, reducing marketing spend to help manage near-term profitability as an alternative to head-count or R&D reductions.  Reductions in marketing spend and headcount leads to re-organization and oftentimes chaos that can easily translate into a defensive marketing stance; a reactionary approach dictated by market forces.  Some companies have taken a seemingly contrarian view, not necessarily investing in additional marketing spend, but taking an opportunity to “sharpen the saw” so that when the economic conditions improve, they will be the firms best suited to take advantage of the inevitable upturn.  One major opportunity is a transformation of talent.  Whereas many marketers will stay put in time of downturn until security is assured, these are not necessarily the marketers needed to drive transformation. 

Those that can embrace risk and bring optimism and enthusiasm in this market environment can be a tonic to an organization on the verge of greatness.  Another major opportunity is a fine-tuning of marketing strategy, which can pay rich dividends as customer, and prospects, begin to plan their way into growth cycles.  As competition waits to react and economic pressures redefine markets, a reassessment of the unique value a company can deliver articulated through a uniquely relevant and credible brand strategy can be of significant advantage. And can represent significant share gain or new market growth opportunities.  George Bailey (a great fictional niche marketer with the Bailey Building and Loan in the classic “It’s a Wonderful Life”) recognized the savvy of his nemesis old man Potter when he observed during a financial panic, “Everyone-else is selling, but Potter’s buying!”  Leave the malicious intent of Potter aside, but as marketers, now is the “time to buy” or your market just might become Potterville!