Management Consultant International article on Alterra Group's Lessons from the Recession
The November 2009 issue of Management Consultant International included an article on Alterra Group's recent research on the effects of the 2008-2009 recession on professional services marketing. In the article, Alterra Group’s Bernie Thiel explained how the recession has shifted marketers’ focus toward short-term sales, how the best firms are addressing the risks inherent in this shift, and how professional services marketers are gearing up for the recovery.
Thiel also discussed the link between how professional services firms approach marketing and whether or not their revenue declined during the recession. In summary, those firms that suffered the most during the recession invested heavily in one or two aspects of marketing—for example, lead generation or brand awareness. In comparison, firms that grew or maintained their revenue invested in a wider range of marketing priorities that reflect the buying cycle: from building brand awareness, to demonstrating thought leadership development, to supporting new offers, and ultimately lead generation.