Web strategies in recessionairy markets.

In a recession the logical focus is to shift focus from client acquisition to retention. Well that is exactly what many large companies in the Nordics have been doing recently, on the grounds that new customers are not easy to come by. Telecoms Vendors, Banks, Media companies are seen to be adopting this attitude as a panacea to surviving the economic slump. This is all very well if you determine marketing as limited to the local market.

While the EU and US wallow in recessionary times at a forecast drop of  -2% and -5% GDP  respectively for 2009, it is worth noting that the Web has provided a border less business accelerator and in fact is not very good at imposing a limited geographical scope as a market target. The economic winters of EU and US are not shared by the BRIC nations: commonly known as Brazil, Russia, India and China. In fact while growth has been declining in these emerging markets, it is by no means negative.China is forecast to grow at 7% in 2009 according to McKinsey & Co; India and Brazil 3% and Russia 1% which is still positive, not to mention the wads of capital available through Sovereign Funds like Abu Dhabi Investment Authority (ADIA), which bought into Citigroup in US in two rounds recently. Dubai is expected to grow at a modest rate of 4% of GDP in 2009.  This is an excellent time for companies to invest in acquiring new customers in the BRIC countries, and utilize the the Web marketing tools of Social and Search to reach-out and invite participation of new customers in these markets.

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