If you want to know your company can beat the recession, you should read our 14 quick tips.
- Find out how your customers’ buying behaviour is changing and amend your strategy accordingly
- Research the market and find what new opportunities are offered by a changing economic environment
- Review the products and services you are offering
- Strengthen campaigns by showing solidarity with the customer – “we’re on your side”
- Innovate to encourage more value-conscious customers to keep spending with you
- Don’t devalue a strong brand by discounting
- Customers don’t necessarily buy less in a recession – they just buy differently
- Nurture and hold on to your existing customers before expensively searching new ones
- Think creatively – not defensively
- Invest in those channels that deliver the best returns and prove the most resilient in a recession
- Take advantage of low demand for ad inventory by demanding more space for less
- Don’t forget to look at other (non-English) markets and talk to them in their own language
- Measure everything – if you evaluate results, you can prove you’re increasing profit
- Don’t be afraid to go back to and change your marketing plans in the light of the economic developments