Marketing Advice During Recession

The Recession Can Be A Good Time To Take Advantage

Looking at some marketing advice during recession is wise in order to see how to approach it.

During the recession, all businesses are looking for cost effective forms of marketing to employ.

Marketing during times of economic downturn and recession can be a challenge for any business, regardless of size.

During a recession, your existing customers are shopping less and focusing more on spending their hard earned money on things they need, such as food and petrol (or electric these days).

Believe it or not, you can market during a recession, but you may need to adjust your strategy depending on current market conditions, target audience, and business finances.

It is not just the weather that effects marketing but the way the country is struggling to grow.

Marketing during recession – keep the wheels turning, like so many other companies.

Your own profits are down, so having a marketing budget is crucial during this trying time. However, with the right marketing plan in place, you can avoid jeopardising the financial wellness of your business.

Start Or Stop Marketing During A Recession?

Any marketing company will advise you to not stop marketing during a recession, however this is because they want new customers as well.

During a recession, many companies will cut back on their marketing, stop going to exhibitions, cut back on digital marketing spend, slow down on their spend on SEO.  For this reason, marketing companies will see their own sales funnel reduce as large and small companies cut back on their marketing spend.

However, marketing during times of recession is important, but your strategy needs to change.

Recessions do not last for ever, typically a recession will last around 15-17 months.

The mindset and change does need to happen, to adapt your business to the new landscape.  Maybe you need to buy in less inventory, maybe you need to thin the staff numbers, but your marketing also has to adapt.

You cannot stop marketing, if the marketing wheels stop then the whole machine may stop.

Of course every business in every industry is different.

If you are a restaurant chain like Nando’s, during the COVID pandemic they had to close along with restaurants around the UK.  But they like everyone else adapted to doing food delivery.  Now pretty much every restaurant in the UK does food delivery via Deliveroo or JustEat.

This is adapting, their marketing may also have changed but not stopped.

There are a number of things that need to be considered during a recession for a business in order to survive during difficult econommic times:

Compare Quotes

A good piece of marketing advice during recession times is to compare prices and costs.

The main factor to consider is shopping around, comparing prices and getting quotes.  This cannot be done via search engines, but only on price comparison websites.

Like car insurance, it is wise to shop around and get different ideas and thoughts from different businesses in order to get a more rounded opinion on how to approach your campaign.

However the different is cost.  You go with the cheapest insurance company as insurance is all the same from all insurance companies.

Marketing does not work like that though, going with the cheapest marketing quote is unwise.  On the other hand, going with the most expensive marketing company is not going to result in the best results and ROI.

There are a number of factors when comparing marketing companies during times of recession.

Choose Local

Working with someone local is always good, there is an alegance and loyalty that comes with working with a local agency rather than working with an agency at the other side of the UK.

Compare Marketing Services

There are many different forms of promotion (PPC, press releases, SEO, telemarketing) that can be effective, however being selective on which service you select is wise during a recession.

Publicity And Brand Awareness

For any business, getting exposure will in most cases do a great deal to the lead generation for the business, no matter what the industry.

Public relations (press releases, PR etc.) has well be known to be an effective form of promotion in order to increase brand awareness and help generate new leads.

Getting ideas from PR agencies about doing a small campaign is very wise, PR can be set up for a very small monthly amount (a few hundred pounds) and for which, a lot of marketing exposure can be generated (maybe even in main stream newspapers) even for a small business or startup.

Price Comparison

Creative marketing comparison during a recession is wise, in order to ensure that you are getting value for money, or look at other forms of marketing that may be more efficient.

All marketing companies are different and all will try to convince you that they are the best agency (as they want your business).

Finding a genuine marketing company that can produce results is not easy, since there are guarantees with marketing.

However, marketing should not be a blind gamble, throwing your money at a marketing campaign and hoping that results are produced.

We want to help you find the right marketing company, as the UK slips further into a time of recession.

Just fill in the form opposite to get quotes from local creative agencies.