Recession Marketing
Marketing into a recession presents new challenges but to someone who understands the importance of Marketing in a small business and has a Marketing Plan it should hold no fear.
If you do have a Marketing Plan you are in the part of only 10% of British companies that produce a written plan and that gives you a heads start over most if not all of your competition.
As someone who is coming up to surviving their third recession/downturn/credit crunch call it whatever you will I can expound on 'surviving a recession' with some authority. The first and most important thing you need to realise is:
Recession is just as much about your state of mind as it is about a downturn in your business. It has been described as a self fulfilling prophecy and for some that is exactly what it will be.
Early in my career I owned a restaurant in an industrial city. Our main source of revenue was business people entertaining other business people during the week day nights. When recession struck we suffered a down turn in sales until I watched one of our customer companies, actually a family business, sell to another in the recession, it was inspiring. It was then I realised that recession is as much about the 'mind' as it is about a lack of business prospects.
Don't ever use the word recession as an excuse for not securing a sale. If you do you will join an expanding club of businesses that readily adopt the attitude 'I can't do that because of the recession' and who will most likely fail or cling on only by the skin of their teeth.
Be proactive in all your marketing efforts, don't simply place a couple of advertisements in a visitor publication or in the local newsagent's window, actively seek ways in which you can engage with your clients and prospects and sell them!
OK enough of the preamble you should now be aware that:
The following pages contain a set of rules for Recession Marketing please read and adopt some if not all the principles they contain sound advice born or of surviving previous national and world wide downturns in the economy.