How we respond to a recession dictates our success (or failure) not only during, but more importantly after, the market downturn. Companies that can hold their ground through a downturn often become market leaders afterward. In hard times businesses often look to eliminate expenses, but what about marketing expenses? If a marketing department is properly [...]
Posts Tagged ‘Recession’
It’s Back to the BD Basics
Recessions have a tendency to remind us about business fundamentals. It is through the refinement of a recession that wasteful spending is eliminated and that we again focus on the core capabilities that make our companies successful. It is also recessions that remind us that marketing and business development are not the functions of just [...]
How to Market in a Recession
Focus on your existing clients and services. It is easy to want to expand into new markets during a recession. The problem is that during a recession work is much harder to come by, both in the markets you currently serve as well as in markets that you don’t serve. Expanding into a new market [...]
Marketing in a Recession – Part 2
“Over two-thirds (72 per cent) of small and medium-sized enterprises (SMEs) are now expecting a recession. However, under one third (28 per cent) have rewritten or adapted their marketing plan to prepare for it, according to research from marketing company New Brand Vision. Ben Harris, MD of New Brand Vision, says: ‘Many SMEs were not [...]
