Informed DM-ers can outlast economic crisis

Share this content:

Last week brought Wall St. to a screeching halt, as inves­tors struggled to make up for incredible losses and the govern­ment, faced with little alternative, committed public funds to bail out AIG, one of the largest US insurers.


The economic crisis we are in has been attributed to greed, lack of foresight, poor regulation and the rising scarcity of nat­ural resources around the globe. But as with any stock market decline, the myth that one can consistently turn a quick profit came to the forefront and was once again debunked.


Direct marketers know this is a myth by default. Exhausting keyword spend or an in-house file is the nightmarish “spray and pray” cliché. If you don't prepare enough market research or run proper A/B creative tests, you face making a poor deci­sion on behalf of your client.


Investors and business owners are now faced with the ques­tion of what quality or product is going to be able to retain and grow its value in our repairing economy. Even if market­ers have 99% research, testing and consumer feedback, there is still a need for what Thomas Edison called the 1% inspiration. I call this informed risk. It's the point in the story of a success­ful campaign when the creative director will say, grinning: “We didn't know what was going to happen – but we tried it cause we believed it could work.”


Presumably, you already have those risk-takers on your team. You've seen them succeed and you've seen them fail, each time doing ample homework before ultimately taking a leap. Moving into a new economy, the ingenuity that comes with informed risk-taking is going to be more important than ever in solving problems. The marketer's role is to inspire action and create a reliable and trusted communication line between buyer and product manufacturer so that each is informed and content with the products and services available.

Loading links....

Sign up to our newsletters

Company of the Week

SK&A is a leading provider of U.S. healthcare information solutions and databases. As part of IMS Health, SK&A researches and maintains contact and profiling data for over 2 million healthcare providers, including 800,000+ prescribers. SK&A's data supports research and marketing initiatives for life sciences, medical device, managed healthcare, direct marketing, publishing, education and more. SK&A's proprietary databases are telephone-verified twice per year from its world class Research Centers. SK&A enables multi-channel marketing and sets the standard for data quality and reliability. SK&A's customers include many of America's most recognized healthcare, publishing and pharmaceutical institutions.

Featured Listings