Look at Hyundai, the brand that brought job loss protection to the forefront of the consumer’s mind. Great publicity for the brand, great attention-getting promotion, great way to get people to better appreciate their brand – yet their sales are way down, their profits are slipping, their stock sinks. Yet wait a moment. Analysts are congratulating them for investing in marketing during such tough times. They get an optimistic outlook unlike the other car brands.
Is their CEO thinking; sales down – job loss promotion must be a failure, fire the CMO?
Wrong. Just ask the analysts. In a declining market, promotional efforts like job loss protection ease the decline, soften the fall, and predispose the consumer to appreciate the brand even if they are not of a mind to buy today. They will be more likely to consider Hyundai when they do come into the market. The lesson. Low response rates, less than expected leads, sluggish sales, poor immediate performance does not mean a campaign failed. The real question to ask is what would have happened to Hyundai if they did nothing!