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One of the tenets of good business practices is that companies should not stop marketing during a recession or economic downturn, says Wes Ball, president of Lititz, Pennsylvania-based strategic growth consulting firm The Ball Group and author of The Alpha Factor.
Take Advantage Of The Downturn
These 6 insightful pointers can help your business during this time:
• This is EXACTLY the time a company should crank up the marketing volume.
• Most competitors are pulling back in fear, which leaves the road wide open to whoever wants to accelerate.
• Marketing now reassures your customers that you are still there to serve them, and it can help you reach new markets to sustain your business.
• Now is the time for a company to invest in itself, particularly if the competition decides it's going to pull back.
• When the economy comes around - as we all know it will - the companies whose names are on the tip of your tongue will be the first ones to regain business.
• Now more than ever people need to know that their business is important to you.
• Most competitors are pulling back in fear, which leaves the road wide open to whoever wants to accelerate.
• Marketing now reassures your customers that you are still there to serve them, and it can help you reach new markets to sustain your business.
• Now is the time for a company to invest in itself, particularly if the competition decides it's going to pull back.
• When the economy comes around - as we all know it will - the companies whose names are on the tip of your tongue will be the first ones to regain business.
• Now more than ever people need to know that their business is important to you.
"Any company that stops promoting stops promoting...That's like turning off a water faucet. You can't survive without water."
Article by Brittany Glenn