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As economy struggles, marketers target fewer dollars

Economies have been hit hard by the downturn that has affected much of the globe. As a result of the slowdown, many consumers and businesses alike have been scaling back purchasing habits and getting more informed when it comes to money-saving offers. 

In an article for MarketingWeek, industry expert Russell Parsons says that stores have had to make changes to outreach efforts and must adapt strategies to better respond to the new marketplace. Creativity is also important to better interact with desired clients.

"A desire to spend less drives behavioral change," he writes. "Consumers want value and will seek it in ever more imaginative ways, using every tool available to them to check which company is offering the best value."

One way that businesses can get in contact with the right demographic is by utilizing tools such as address validation to target a specific socioeconomic clientele. While it can be difficult to navigate through a slower economy, the businesses with the best strategies are likely to get the most positive results.