Whenever markets shift, there is an opportunity to compel consumers to re-evaluate brand choice and switch. Seth Godin today says hang in. I say, up the market spend and thank Merrill Lynch and Lehman Brothers for stirring things up.
Consumers use context to make decisions regarding how they are going to act. if financial turmoil creates stress and conflict, then consumers will be looking for stress relief. This could be in the form of a vacation for those looking to escape, or new financial products that offer a level of safety.
If I was JPMorgan Chase right now I'd be communicating that my balance sheet is stable and there has never been a better time to visit a financial adviser. They can encourage prospects to come in for a free rbalancing of the portfolio or offer a path to increased safety. Lose that nonsensical rewards program. Now is the time for sanity and reality.
Tension propels purchase. Opportunities like this do not come along every day. Why is it that not one marketer is stepping up their game?
PS: Did I mention there is a fire sale on media assuming the politicals don't buy it all.