It wasn’t too long ago that people had money to burn. Really. Almost everyone will admit to spending good money on things they neither wanted nor needed. They even spent that money buying bulk volumes of kit they never wanted. And volume-seekers were the people to attract.
The recession has changed all that. People are trying not to spend any more than they have to: with high taxes and interest rates imminent, the sensible thing now is for people and businesses to reduce debt.
Telecoms companies have largely stopped mass marketing for new customers: they prefer, instead, to spend their time offering better customers services and offering value for their existing customers just to keep them. They learn from the last recession that customers are very fickle, and they lost fortunes by not paying attention to them. Why would you sell a mobile phone to someone who has already got one?
But customers will spend on value. Value, can be a complex thing. There is no such thing as a product or service that is not valuable. A product or service that offers something beneficial at an economic price is valuable. The question is, who is it valuable to? The answer, of course, is obvious.
Contact Chalestra to develop you strategic business.