Why You Should Market During Difficult Times
Victorian businesses are feeling the effects of this drawn out Stage 4 Lockdown, and it’s natural to feel overwhelm.
And facing a recession, businesses immediately look to cut costs.
Maybe your first instinct as a business owner is to question the worth of spending on marketing.
However, it has been shown many times that businesses who dramatically reduce their marketing efforts during an economic downturn will actually end up jeopardizing their long-term viability.
Why should you continue marketing during a recession?
Many businesses are surprised to know that increasing marketing during a recession can lead to growth.
Companies that continue to market stay front of mind for consumers. So, when consumers are ready to spend again, they instinctively turn towards visible brands.
When a business continues marketing, you are putting out a message that you are open, you are positive and showing leadership in uncertain times.
Even if your business is not open, is only doing take away or offering virtual sessions and is not at your strongest, your existing clients and prospects will be attracted to whatever stability you can provide.
On the other hand, cutting down on marketing during a financial downturn will reduce your online and offline presence, leaving the door wide open for your competitors to take advantage and fill in the gaps.
Consider these times as an opportunity—an opportunity to provide consumers what they need most in difficult times, while at the same cement the loyalty of your existing clients.
After all, consistent and persistent marketing is the only effective kind.
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Alison Evans – Pinpoint Local