Marketing in a recession

Be a business that survives and thrives

Marketing in a recession is one of the most important things you can do for your business.

The vast majority of companies will be cutting down their marketing spend right now which means that those smart companies who keep up marketing will reap more rewards as there will be less competition.

There is lots of evidence to demonstrate that those companies who continue marketing in a recession or other difficult times, not only survive the bleak times, but prosper even more when things pick up.

One thing I can guarantee – not all businesses will fail during this recession.

Despite less disposable income... people do still buy things... businesses still need supplies.

The key is to make sure you are one of the businesses that people will come to no matter what the economy is doing.

You have to be flexible in your approach. Step back and look around – which companies still seem to be flourishing? I’ll tell you – it’s those who are adapting their offering to meet the changing needs of their customers, and those who are still telling people about it. Those who are still actively marketing....

Look at the big supermarkets. Some have recorded rises in profits and this has been down to a sharp rise in promotions such as “dine for £5” and value brands. And how do we know about these promotions? They keep telling us.

They keep advertising, marketing and promoting. And you can bet that once the recession is just a distant memory, and we are spending more freely again – they’ll be back to promoting the finer things – because that’s what their consumers will be wanting by then.

The lesson here is simple. In difficult times, marketing should remain high on the agenda as the fight for business is tougher. Those who will win are those who use marketing effectively. Not only will they win the race for the recession pound, but they’ll start the race for the boom pound in pole position.

CLick here for some great free small business marketing ideas.