Recession-Proof Marketing Strategies

If past recessions have taught us anything, it’s this:

Slashing your marketing budget during economic downswings will starve your revenue.

Yes, it’s a natural impulse to stop marketing when facing a recession.

But in the long run, a marketing freeze can...

Shrink your customer base

Cripple your market share

Bury your visibility

Fortunately, I’ve put together a few lessons for marketing successfully during a recession:

Lesson #1 Focus on Your Current Customers

Want to drive purchases and revenue?

Nurture your existing customer base for repeat sales.

For most businesses, it costs more to find a new client than keep a current one.

And when existing clients offer 5 to 25 times more revenue, marketing to them should be your go-to recession strategy.

Lesson #2 Capture Your Competition’s Market Share

When your competition stops marketing, it’s the perfect time to gain exposure and new customers.

In 2008, personal injury lawyer Edith Pearce survived by marketing to “let people know [her] firm’s unique position in the marketplace.”

That led to a loyal following of clients for Edith.

But competing firms that cut marketing efforts saw less, if any, growth.

Recessions require more from a business to succeed.

If you want to outlast competitors and come out stronger down the road, don’t forgo recession-time marketing.

Lesson #3 Target Unimpacted Industries

When a recession strikes, you may have to shift the focus of your marketing.

One option is to target recession-free industries like government, repair businesses, or technology.

These sectors usually fare better than others during tough economic times.

And going after them can prevent losses, boost growth and keep your cash flow consistent.

In 2008, businesses savvy enough to market during the recession were rewarded with 3.5 times more brand visibility.

But we’re already seeing companies make the classic mistake of slashing marketing budgets.

Want your business to succeed where others are failing?

My online marketing assessment finds your company’s strengths, weaknesses and areas for improvement where they matter most: online search.

You’ll get an actionable, 5-point marketing assessment to help your business weather economic uncertainty and come out stronger on the other side.

Many times, our small changes lift client ROI.