Past downturns in the market have shown that marketing during a recession puts you in a much stronger position after it has passed.

Comparing the results of those companies who have continued to invest in marketing with those companies who have either reduced or pulled their marketing budget, show that it’s those businesses who continue to spend that gain market share from their competitors during tough periods and, ultimately are able to position themselves better and grow, when the downturn has passed.

Why you should market more:

• If your competitors reduce their marketing then you have less to compete with – your activities will be more prominent and the message louder and clearer
• Customers want to be communicated with and will welcome those businesses that continue to engage with them, delivering messages that are specific and relevant
• Lowering brand awareness loses market share that’s hard to win back
• With customers spending less, each sale is harder to win – so more marketing is required, rather than less.

You can’t cut marketing without affecting sales, just as you can’t sell effectively without marketing. So it goes that you can’t cut your marketing budget and still expect the sales team to meet their targets.  So how do you achieve this in a recession?

You need to market smarter:

• Look at where you are generating the best responses or results and move more into these activities, away from those channels which are not as effective.
• Look at alternative communication channels. If you are not already marketing through online and digital media – these can deliver targeted, tailored messages to a clearly defined audience, at a very low cost per lead.
• Find ways to stand out from the crowd – do things differently with design and copy
• Be ready to identify market opportunities and respond quickly to them.
• Look after your existing customers – remind them how much you value their custom and find ways to add value.
• Meet the needs – understand what it is the customer needs or wants and meet those needs.