subject: Marketing During Recession [print this page] Marketing During Recession Marketing During Recession
Perhaps we've been so accustomed to recession that it no longer bothers some of us. Sure it did stir us to tighten our belts and cut back on travel sprees and night outs. It prompted us to find ways to follow a more cost-effective living. It gave us the leeway to live a more modest lifestyle.
But do recession means cutting back on expenses in business as well? Perhaps yes to some aspects like buying new furniture when the old one is still usable; purchasing a new office printer when there are still about 5 printers in good condition; or perhaps hiring additional manpower when the present staff you have are enough to get the job done. But when it comes to marketing, recession doesn't mean cutting back on marketing efforts as well.
Some businesses take the tough times as a strategic move to gain exposure over their competitors. For them, as other businesses are cutting back on their ads, it is high time to be more aggressive in their promotional campaigns. But does it pay to advertise in a recession? Is there something to gain from spending money on a recession stricken economy?
Actually, there is. Contrary to popular belief, it makes good sense to take a risk and anticipate the good times ahead. Recession, after all, is not permanent. Among the good sides of aggressive promotion during recession are:
You are more likely to stay visible to the public. By continually distributing business cards, brochures or giving out promotional items such as pens and sticky notes, you are effectively maintaining and increasing your visibility. When customers need a particular product or service, they will easily remember your company.
People will see you as a strong and dependable company. If you cut back on your advertising, you are like sending a message that you may not be strong enough to stand the difficult times.
When people have even the littlest opportunity to buy luxuries during economic recession they are most likely to go to companies who advertise avidly. These companies will surely be the first ones to get the customers.
So, the next time you think of cutting down your promotional expenses, think of its impact to your business. And instead of seriously cutting back, consider these tips in surviving in an economic recession:
1.Study your customers. Know how they are reacting to the recession. Most likely, customers are willing to buy on sales or postpone non-essential purchases.
2.Look for cozy images and lines to replace your sporty and expensive advertisements. You can include humor in your ads to get rid of fear in your customers. You can include them in your greeting cards, postcards, and brochures.
3.Maintain your marketing strategy. As said before, recession is not the time to cut down on promotion. Rather it is the time to be more aggressive in marketing. But this doesn't mean expensive marketing. This is the best time to work on printing business cards and postcards as inexpensive means to promote your business. Keep in mind that businesses are more likely to increase their market share and return on investment when competitors are cutting back.
Recession may have hit our pockets hard, but with the right business strategy its impact can't be felt badly. By remaining a bit aggressive in marketing instead of retreating amid the battle, you are sending a favorable message to your customers of your dependability. And it's likely that they are to stay with you all throughout the difficult times.
