Tech Brands Successful During the Great Recession
Gain an understanding of which technology brands had marketing success during the recession/economic downturn between 2008 to 2009, and the messages these companies were putting into the market to generate that success.
- Online couponing platform Groupon gained a great deal of new user traction during the recession of 2009.
- They aimed their messaging at both supply and demand sides, targetting those at home and off work, as well as businesses that were looking to grow their customer base during a time when consumer spending had dropped off.
- They also focused on writing trendy and humorous content to reach the millennial audience, who were not traditionally considered coupon users but were looking for bargains and options to save money at the time.
- Netflix gained quite a bit of their traction when the recession hit, attracting over three million new subscribers by the end of 2009.
- The company focused on differentiating themselves from expensive cable and satellite TV services, and their low monthly cost allowed them to stand out.
- Consumers were interested in their ability to both have at home entertainment options, but save money compared to other options. As a result, stock rose by over 57% during the recession.
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For each of the three companies above, provide more in depth details of the specific messaging used during the recession to advertise and target consumers, including actual verbiage as well as overall tone.
Provide a list of 3 additional tech brands that saw success during the Great Recession, including details of their messaging strategy and why they saw success during this time.