The world of sales, consumerism and marketing has never been more exciting coming out of Covid with revenge spending and travelling around the world in 2022 through to 2023.
2024 sees things tapering down fast as inflation becomes a real concern and consumers start feeling the gentle waves of recession affecting their wallets and household income. The ripple effects continued and many smaller businesses were eventually swept away by the tidal waves.
Big corporates are not spared either with marketing budgets and resources getting cut. Sales are now trying to do direct selling, short of knocking on physical doors, gatecrashing events or doing more LinkedIn InMails of their own.
Social selling bloomed during Covid and a flourishing economy of content creators rose up to commercialize the situation. But as inflation hits and people are returning to office, feeling a different type of burnout, content and influencer fatigue also hits some parts of Asia, especially Singapore.
Brands start looking seriously at measuring return on investment for social influencer marketing concurrently while consumers look at authenticity of what they are selling.
While still grappling with business transitions, transformations and reorganizations, marketers and agencies alike are feeling a creative burnout and attrition. Some found their niche by revisiting what being in marketing really means from a business outcome perspective, others chose to carve out their own alternative pathways.
The learning points that weave everything together however are: –
- Staying true to your value proposition, passion points and what marketing can bring to the business leaders’ table.
- It’s important not to wait for burnout to happen as little flames are easier to put out than raging fires.
- Equally important to not be in an auto-pilot mode of just “doing for the sake of it” but look at what else you can do to inspire yourself.
- Marketing should never shy away from being at the sales and product conversation, going back to the Product, Positioning/Promotion, Pricing, Placement, People, Process and not just the Packaging.
- Build an appreciation for your brand with the right content, messaging, creative concepts, proposition and offers that resonate with your customers
- Use social influencers (paid and organic) as your brand ambassadors and look at social brand building as a longer-term strategy while using social selling as a short-term tactic to push the buying decision over the line.
- Optimize your marketing budget, focus on tightening your product strategy and don’t go for a one size fits all or casting your net overly wide for your marketing channel strategy
The above sums up Jaslyin Qiyu, Founder of Mad About Marketing Consulting’s thought leadership participation at the two recent events at Asia Business Show and Future of Marketing in APAC Seminar. Follow her page for more insights, including video discussion highlights!
************************************************************************
About Mad About Marketing Consulting
In the dynamic B2B and B2C landscape, where every business seeks to carve out its unique identity, Mad About Marketing Consulting transcends conventional marketing boundaries. Mad About Marketing Consulting is the brainchild of Jaslyin Qiyu, a seasoned marketing and communications professional with over two decades of transformative marketing leadership experience in global MNCs that went beyond the “typical marketing remit.” Everyone has an opinion about marketing, but not everyone can maximize its potential sustainably. We are an ally for CMOs and Heads of Marketing or Fractional CMO for other C-Suites, maximizing marketing potential through strategic transformation and go-to-market strategies for brand, customer experience, MarTech, content, mobile and social. Whether it’s people, processes, or platforms, Mad About Marketing Consulting is driven by our people-centric values and passion for solving problems, thinking with empathy and acting with integrity to ensure better business and marketing outcomes.
For more information, visit madaboutmarketingconsulting.com