Don’t worry, keep marketing!
“Economic storm clouds gather on the horizon. Headlines run from grim to apocalyptic. Investors are losing fortunes. Housing is in a downward spiral. Financial institutions warn of a crisis. The White House hopes for a fiscal stimulus via tax cuts. Any day, consumers and companies could slash spending and trigger an economic downturn,” writes Steven Van Yoder.
Time to get out the worry beads and slash your marketing budget!
[Insert your reaction here.]
Are you nodding your head in agreement? Are you bracing for an inevitable blow to your business? Are you hesitant — or even downright afraid — to spend more money on marketing?
I see that pull-back already happening in my neck of the woods. But it’s the last thing businesses should do. I’ll let Van Yoder continue:
Whatever you call it—a recession, slowdown, correction or disaster—economic turbulence is part of capitalist society. The economy has always been—and will always be—cyclical. The real mystery is why so many businesses are unprepared when recessions strike.
Making your company recession proof requires a proactive approach. Businesses that prepare for economic slowdowns, and ensure their businesses can adapt and survive in a slowing economy, are likely to do better than those that leave their economic fate to chance.
The economy does not stop creating value during economic downturns. Opportunity still abounds in recessions, but you need to think creatively and look in different places than when the economy is going full-steam.
Read the entire article, Recession Proof Marketing, and find out what he recommends.
My favorite recommendation: Stay positive.
The most important thing about a slow period is not to get depressed by it. If you are down, prospects can sense your desperation and fear, and it has a negative effect on your dealings with them. Remember that everybody in business has slow times; those who say they don’t are lying. The lull is temporary. People WILL call you and hire you again.