Marketing In A Recession: Why You Won’t Survive If You Stop!
Topics: marketing in a recession, small business marketing, copywriting
One of the biggest mistakes I see business owners making is they stop marketing in a recession.
Yup, when times get tough and you have to work a little harder to get the customers and clients coming in… and what do they do? They stop the very engine which drives their business - the marketing.
Yes, totally nuts, I know. But that doesn’t stop them doing it. I understand why they do it, because it’s an emotional decision based on fear: the fear their marketing isn’t actually working.
And this tells me one thing - their marketing isn’t measurable. Because if it was, then they’d realise it was actually making them money and not costing them a cent (or they’d realise it wasn’t working and change it until it was). But, contrary to the conventional wisdom…
Marketing In A Recession Is The Best Time To Be Doing It!
Here’s why:
First, everyone else stops. That means any marketing you do is going to be a lone voice in the deathly silence of the recession. And people don’t actually stop buying in the recession - they’re just a little more careful where they spend their money. As always it’s value they worry about more than price, only now the value is even MORE important to them.
Secondly, everyone else stops… so… marketing suddenly gets cheaper. Why? Because of supply and demand. If no one is advertising, then all that advertising space is going empty. Every square inch of unsold advertising space in every paper and magazine going out costs the publisher money and brings in no revenue. A client of mine just yesterday secured a rate-card ad of $730 for just $130 after following my “tough approach” advice. That’s a saving of around 82%!
Commercial printers, fulfilment houses, graphic designers and (stupidly!) copywriters all drop their prices and fees (not me - I actually raised mine).
And thirdly…
NOT Marketing In A Recession Cannot Possibly Help You!
If having no business is your problem, then not marketing and trying to get some coming in cannot in any way make things better.
Yes, this is a logical thought process, and, unfortunately, the recession is an emotional subject, because it causes fear, uncertainty and doubt.
The very best scenario you can hope for is your marketing wasn’t working and the money you save might keep you afloat for one or two days longer. I don’t know about YOU, but I think that’s a pretty depressing view to have of business.
The worst scenario is you cut off the only profits you were making and go bust even faster.
Truth is, you have to become good at marketing. You either have to pay someone who knows what they’re doing or learn it yourself. In fact, you have to learn it yourself anyway, because having such an important function in your business a “mystery” you delegate to someone else is just one step above cutting your own throat.
Bottom line is this: marketing in a recession is NOT optional. It’s scary, but that doesn’t change the facts that it’s the easiest, cheapest, and best time to be doing it.
Jon McCulloch is the hottest marketing sensation in the UK and Ireland and is now taking the US by storm. Get the latest cutting-edge marketing strategies and tips from Europe’s leading direct marketer here: www.small-business-marketing-tips.com.
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