Five things you should NOT do in an economic downturn in terms of marketing.
One sure sign of a recession is a bump in the number of stories out there on the Intertubes telling businesses how to survive recessions. The latest comes from BusinessWeek with a slight twist: marketing things you should NOT do to survive a recession. Such as:
Don’t lose focus by chasing business you wouldn’t normally want. When clients and customers get nervous about the economy, they cut back their spending. For you that could mean fewer transactions, smaller purchases, or possibly both. But if you try to broaden your core product or service appeal to please a wider audience, chances are you’ll make your best customers even less satisfied, giving them one more reason to stay home or spend less. There’s a reason you don’t pursue certain types of customers when times are good, and that reason probably hasn’t changed. Do your best to stick to your knitting and enhance the value you provide to your best customers. They may decide to make their cutbacks in areas other than yours.
Well worth the read, you can check it out here.




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