Recession Got Your Numbers Down? A Marketing Consultancy Could Help

Marketing consultancy services can help your business weather the current economic recession

, particularly if you are a small business owner. You can keep your business afloat by following some steps and advice from a marketing consultant, an important and often necessary investment.

Cut Costs

Your knee jerk reaction to an economic downturn is likely to cut costs in virtually every area of your business. However, one of the most important pieces of advice you are likely to get from a marketing consultancy professional is to tread carefully with these cost-cutting measures. Reducing costs is only a short term solution to potential financial problems.

A marketing consultant will likely tell you to cut costs only in those areas of operations which will likely not negatively impact your business in both now and near and distant future. This is especially true when lowering prices for your products or services. While it is the easiest move you can make now, it will be much harder to raise the prices back to normal as the recession improves. Raising the prices back will create an unhappy base of customers and you could end up losing them, after all that hard work in keeping them during the sluggish economy.

Affording Advertising and Promotions

Just because it is the recession does not mean you stop your advertising and promotions altogether. A good consultant will tell you that cutting advertising drastically back or totally can backfire on your business. Sure, you will save money but customers have short memories and will likely seek products and services elsewhere, with companies that have active advertising campaigns.

It may seem counter-intuitive but maintaining your advertising and promotions budget will help you keep your current customers and gain new ones who end up defecting from other companies that may be cutting back their own advertising dollars. Maintaining customers during the recession is important so you have a strong base for the time when the economy starts on an upswing.

It costs a lot more money recruiting new customers than it is keeping your existing ones so it pays to have a consultant help you sustain your marketing strategies, even during the recession. A consultant can also help you determine where you should employ your cost cutting strategies during this time. This is particularly helpful when you have several employees counting on you. Marketing consultancy services will help you keep your business afloat without huge detrimental cost cutting measures to your marketing and promotions budget.

Recession Got Your Numbers Down? A Marketing Consultancy Could Help

By: Chris Jenkinson

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