Marketing During Recession – Keep The Wheels Turning

Marketing During Recession – Keep The Wheels Turning

Marketing during the recession is challenging, as many companies will stop of restrict their marketing as the first thing to do.

Marketing companies themselves will always advise to keep the marketing wheels turning, as they will not want to loose all their customers.

But what is the best thing to do during a recession, should you keep your marketing spend as it was before the recession?  Should you continue as if nothing has changed?  Should you stop all together.

However, a balance does need to be found, as during the recession money is tight, money cannot just be ploughed in willy nilly in the hope that it will produce results.

The truth is that during recession business is tight, customers are less open to investing or buying, so no matter how much marketing is done, the results will be lower than during the good times.

Lets have a look into this a little further:

Smart Marketing

During recession, it is wise to keep the marketing wheels turning, to keep the message going out rather than turning the tap off.

The key is to try and adapt the marketing that is being done, to ensure that the marketing that is selected is as effective as possible.

So instead of advertising on TV, why not switch to advertising on the internet? Instead of telemarketing, why not try PR.

Social media is a powerful form of marketing and is free of charge.  Can your business start marketing on one of the many social media platforms?

TikTok proved very popular during lockdown, both for businesses and individuals.

While we were all told to stay home to protect the NHS, people on furlough and unemployed filmed themselves doing dances, or eating dinner.

Now they are referred to as social media influencers and are used by brands all around the world to market clothes, washing up liquid, makeup.

Be Creative

Not all marketing has to be digital and not all marketing has to be expensive.

As mentioned above, doing dances on TikTok is creative and other than time, does not cost you anything.

Maybe your brand can amass millions of followers over the course of a few months by simply being creative on Tik Tok?

Being creative during a recession with your marketing is what it is all about.

Marketing does not need to stop, the wheels can keep turning,  but your marketing does need to adapt.

Digital marketing is where it is all at these days, but the downside is that digital marketing is expensive.

Shop Around And Get Quotes

If you are happy with the marketing that you are using (in terms of the type of marketing) why not check prices to ensure that you are getting the best deal?

All marketing companies set their own rates, so shopping around and comparing marketing quotes is wise.  With marketing, you do inmost get what you pay for.  The most expensive marketing agency does not make them the best.

If you are based in London, do you know marketing companies in London will be more expensive, due to the higher staff cost and higher office rental?

If you are paying a telemarketing agency £450 a day for lead generation, why not see if you can get it down to £300?  The telemarketing agency will not want to loose your business, so maybe talking to them about bringing costs down.  Perhaps reducing the number of days each month?

The Cheapest Is Not Always The Best

Marketing is a fickle thing, the cheapest company is not always the best, but neither is the most expensive. So how do you get the best marketing company for the best price?

Looking around, getting quotes and meeting the agencies is really the only way.

Asking about their track record of success, asking to talk to some of their customers, asking for some forms of guarantees with marketing (like a minimum performance level).

With our service, it is all about helping you find the ‘right’ marketing company.  Choosing a marketing company involves many things.

It is not about price, going with the cheapest marketing company is just as unwise as going with the most expensive marketing company.

What to remember?  Marketing during recession is tough, but keep the wheels turning!

Dangers That Recession Brings

If you turn off the tap, the water will stop, that is what it comes down to, if you stop marketing then your incoming sales leads will dry up.

Customers that normally would have come to you, will go to one of your competitors. Is that what you want? Indeed you will save money on the sales and marketing, but you will loose business to competitors.

For many companies, marketing is the first thing to get cut back on during times of difficulty.  However this is unwise, as with no marketing there may well be no incoming leads.

Be creative with your marketing, look at ways of adapting your marketing until the recession comes to an end.