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Marketing through a Recession Marketing Articles | September 10, 2008
Marketing programs are usually one of the first victims when we are facing a downturn or, worse still, a full recession. But it doesn?t have to mean we let customer relations have to suffer and this article suggests ways of making reduced budgets go further while keeping up our market presence.
The debate is over ? we are facing up to flat sales, a global downturn and even the prospects of a full-blown recession. With the media pumping out gloomy (and wildly differing) recovery timescales Detlef Schrempf Jersey , businesses everywhere are quickly preparing for the inevitable rounds of cost-cutting.
And as the Board settles in for a rough ride, one of the first budgets to be hit is good old Marketing. On the face of it, this may sound like common sense - after all, if no-one is buying, why spend money promoting to an unresponsive audience? But while ?recession? and ?marketing? are never going to be the best of bedfellows Ray Allen Jersey , any marketer who has lived through previous downturns will proffer an alternative view, suggesting that ?battening down the hatches? may not be the best tactic for interim survival before the eventual return to growth.
This safe, tried-and-tested strategy aims to ride it out, suffering lower sales but achieving cost-cutting to suit. Now, this may appease the finance guys and shareholders but it does little for long-term recovery in what will Andre Roberson Jersey , by then, be a very hungry and competitive marketplace.
If you ?freeze? your scheduled marketing plans till everyone has agreed the bad times are over, you may find yourself playing an expensive game of catch-up. In other words, don?t be surprised if your more savvy competitors have been working on your best clients during the ?downtime?, chipping away at relationships you have built over many years.
Now let?s consider an alternative Steven Adams Jersey , which still accepts the need for managing costs but chooses to concentrate on continued smarter marketing to maintain the company?s profile while riding out the storm.
With tough times ahead, the temptation is to cancel every ad campaign, product launch and roadshow, while doing the minimum of PR ? after all, who wants to