The economic crisis that everyone has been talking about for so long has arrived. And it is not going to go away anytime soon. So I suggest we talk about marketing during an economic downturn.
During a crisis, most companies go into austerity mode. They prefer to calmly wait out the hard times and not take risks. First of all, they cut marketing and advertising.
And they themselves suffer from this.
Research shows that the winners are those companies that maintained or increased their advertising spending. In this way, they increased their sales and market share, which remained with them even after the economic downturn.
Don’t wait. Now is the time to develop a plan for gambling database investing money and finding new ways to attract customers. Remember, life doesn’t stop during a crisis, people continue to buy and do business. Now think about who they will buy the goods they need from? You or your competitors?
“Saving on advertising is like stopping a clock in an attempt to save time.” Henry Ford
Why do we need marketing and advertising during a crisis?
Imagine that all your competitors cut their marketing and advertising budgets, and you continue your campaigns at the same level. Who will benefit? You, of course.
When the crisis has abated the main why you should advertise on instagram advertising noise and a few brave souls remain in plain sight, they will be the ones who will strengthen the position of their brands in the market.
This is a good time to introduce new products to the market. When the main players are waiting for better times, all the attention of the public will be focused on your new product.
Active advertising during a crisis will give your brand stability in the eyes of consumers.
You are doing well, which means you will not let your customers down.
It is quite possible that with the massive reduction of advertising budgets, the cost of advertising will also fall. This will be another big plus in favor of advertising and marketing campaigns during the crisis.
Now imagine that you will shut down your marketing campaigns, and your competitors will continue… Scary?))
6 Steps to Surviving a Crisis
For many companies, this is their first usa lists economic downturn. Now is the time to take stock of the situation and determine if your business is prepared to survive it.
We have presented 6 of the most successful steps that will help you survive the recession:
Don’t panic. Only cold calculation and comprehensive analysis! Unsystematic actions can lead to loss of customers and income. All decisions must be taken carefully, having calculated all the risks. Good preparation and a well-thought-out strategy will help your brand survive any economic downturn.