The attached article guide based on an article by Karen Pomazal covers several reasons to "ride the recession"
Recession impacts for marketing
- Firstly customers consider their purchases more carefully, so review your proposition, to become more "Value" focussed.
- It is more important in a recession to show the ROI on your marketing efforts
- Increase nurturing so when customers are ready to buy, you are their first call
- Tightly align your sales and marketing functions
Investing in a recession
As bigger brands with bigger market share pull back, this opens an opportunity for smaller brands to gain market share. Digital advertising costs are already 8% down, so now is a great time to up your PPC, Facebook or display advertising.
- Capitalise on competitor churn
- Focus on your own customers
7 to do's
1. Introduce and maintain agility
2. Turn off 'Nice-to-Have' campaigns
3. Double down on revenue attribution
4. Commit MORE resources to ABM
5. Analyse data for customer and market patterns
6. Invest MORE in brand-building initiatives
7. Publish MORE value-based content
Download the Marketing in a Recession full guide