Do you have a floatation device ready for a downturn or recession?
Cutting marketing from your budget to prep for an impending or imminent recession can be like diving into the wave pool at the water park without a floaty.
You’ll just end up thrashing around squeezed by your competitors in their floaties while trying to keep your head above water to get the lifeguard’s attention to come to save you.
Marketing is like your floaty. It keeps you safely on the water but enjoying the ride of the waves until the water settles back down again.
Don’t go through an economic downturn or a recession without a floaty.
In today’s episode, I’ll share with you reasons to stay marketing, how to keep marketing without breaking the bank and well talk about successful businesses of past recessions and downtimes.
Here’s a glance at this episode…
[00:01] Many businesses knee jerk reactions are to cut spending on marketing right away. Let’s face it, it’s an easy place to cut. It’s immediate cashback in your pocket, but is it necessary and will it actually help your business? Let’s think about marketing. It’s your visibility. It’s your community building.
[00:18] It’s outreach, it’s inbound lead generation, and if you stop all of those activities to prepare for a recession, you’re running the risk of losing those customers’ attention. And as a business owner, you probably know that staying top of mind and just being in the faces of your potential audience is a big part of your business’ success.
[00:42] You use marketing to amplify your message, and we wanna continue to do that in a recession. You wanna continue to amplify your message and reach your audience. Otherwise, you’re gonna lose their attention. You’re gonna lose all that visibility you’ve built up. Your traffic’s gonna dip, your relevance is gonna go down, and your authority is gonna go down to zilch.
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Links mentioned in this episode:
- An excellent article from Forbes on preparing your small business for a recession.
- In this Forbes article read about how brands won while marketing in a recession.