CEOs make THIS mistake in recessions

“Times of trouble are when marketing opportunities are created.”

I wish I could take credit for these wise words.

But they actually belong to Nic Faitos, a man whose company survived the Great Recession.

You see, while 2008 killed 1.8 million small businesses, Nic saved his brand and set the stage for expansive growth.

Doubling his earnings from $3m to $6m, to be exact.

Not an easy task when product cost and employees eat up 60% of revenue.

So he must run a recession-proof business, right?

Wrong.

In fact, his business is probably more susceptible to recession woes than yours.

You see, Nic sells flowers in NYC.

Yes, you read that right.

Roses, Tulips, Daffodils.

When 2008 hit, the first things his Fortune 500 clients cut were bouquets and flower arrangements.

So what did Nic do?

He doubled down on marketing, expanded his client base, and targeted recession-proof industries.

His advice to business owners during times of crisis?

• Don’t hide! This is a time to showcase your brand and maintain relevancy.

• Take advantage of the downtime to build systems and name recognition.

• This will not last forever.

Short-term spending might slow during a recession, but long term, it’s stable and even booms afterward.

Why?

Because recessions are short events by nature.

Even 2008 only lasted 18 months (painful as they were).

So if the economy has you worried, take Nic’s advice: Don’t stop marketing.

History shows businesses committed to marketing come roaring out of recessions.

But if you’re not sure how to market in 2023, my online marketing assessment is a good place to start.

It gives you a baseline of your current activities and can help put money-making priorities in perspective.

Sometimes, the “tiny” changes I recommend have big impacts on ROI.

To learn more, click below.