Buyer Behavior in a Recession


Posted: April 7, 2009 | Modern Marketing

Despite some signs of an improving economy, understanding techniques for marketing in a recession is still on the mind of almost every marketer I speak with.

About a month ago, I participated in an webinar titled Buyer Behavior in a Recession, presented by Scott Albro, the president and CEO of Tippit. In this seminar, Scott presented some of the findings of their research,Recession Marketing for B2B Vendors, highlighting how the recession is impacting business’ purchasing behavior and what
vendors can do to better target buyers in a difficult economy.

Some key insights from the webinar:

  • Attention is more scarce than ever during a recession
  • Buyers ARE still making B2B purchases, but the process has changed primarily because budgets are lower and there is greater scrutiny on every expense.
  • In this environment, ease of use, integration flexibility, and price are the top factors driving decisions.

What this means is that B2B marketers need to change their marketing strategies during a recession. Some of the tips include:

  • Plan your campaigns for attention scarcity; this means having a very wide funnel at the top-end by being very open with your information, and then building trust over time with lead nurturing
  • Simplify you marketing and your messages as much as possible; attention scarcity creates a desire for simplicity
  • Retool your value propositions for bad times, focused on value and time to value

Watch the entire webinar on-demand.

Marketing in a recession

Jon (@jonmiller) is a VP and co-founder at Marketo. He is the author of multiple Definitive Guides including Marketing Automation, Engaging Email Marketing, and Marketing Metrics & Analytics. In 2010, The CMO Institute named Jon a Top 10 CMO for companies under $250 million revenue. Jon holds a bachelor’s degree in physics from Harvard College and has an MBA from the Stanford Graduate School of Business.

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Buyer Behavior in a Recession

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