I have had enough of spreading the news that we are in the midst of a very serious recession. Everyone knows it. Jobs have gone. Colleagues are clearing their desks. Holidays are being canceled. New cars are gathering dust in dealerships across the land. And of course there is pressure on all of us to demonstrate a real positive return on any marketing spend.
I am excited to find businesses having a go. Hyundai out of the US has gone for the security blanket of offering a 'no questions asked and no penalties returns acceptance' to anyone who thinks they may lose their job in the next 12 months. With unemployment still only nudging above the 'natural rate' - the chances of this being taken up are slim and the column inches it has gained has been massive. Nice work.
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- Mark Alexander
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3 comments:
Good one Mark. I think you should have titled your post, "Hooray-of-sunshine".
I think what Huydai is doing is unique, but I also hope that it is not setting a precedent. In these uncertain times people should be thinking and acting (saving) with greater fiscal responsibility and not abdicating that responsibility to all or nothing clauses.
More intriguing is whether or not other industries adopt this program and how they adapt it..."Up-sell Insurance" for buying a bigger TV, holiday packages, home entertainment systems, etc...
Thanks Judd. I think consumers are necessarily being cautious and are only making key purchases. There was a great letter in The Australian today which also partly highlights one of the issues - consumers are reading about doom and gloom but are not seeing it effect them in the everyday. While I am an optimist I do think it is only a matter of time. Government spending is a short term gain and we are due the long term pain as seen in Japan for the last 27 years! I hope I am wrong for all of our sakes and continue to guide clients through recession marketing by simply suggesting we apreciate consumer sentiment and appear at least empathetic - giveaway fuel not holidays etc. Anyway Judd - where is your blog?
Agreed, Mark. Empathy is King during these times. My blog? Give me a month or so and I'll have an answer for you...
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