Marketing in a recession can be a double challenge.
First, you probably have to keep a close watch on how you are spending your marketing budget. Chances are you have less to work with now than you did before the economic slowdown.
Second, articles and research studies all point to the need to increase marketing during slow economic times in order to come out strong the other end.
How do you manage to do both?
How should your marketing efforts change in a recession?
Your first reaction may be to cut way back on your marketing budget. And realistically you probably will have less money to play with. But rather than simply doing less of what you already do, you should think about ways to be smarter with your marketing budget and focus your messaging and communication venues on the things that matter most to buyers in slow economic times: their bottom line and meeting their immediate (short-term) needs. Having a long-term visionary story is great, but your marketing should not lead with that. Keep it focused on the bottom line customer benefits.
How do successful firms grow their businesses during recessions? These are the mantras they follow: