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Marketing During a Recession

11.08.11

For businesses and individuals alike it is always important to understand where to best spend your dollars. For most businesses it is very common to do what makes the most sense from a financial and practical standpoint. Successful businesses often understand that we must live and operate within our means. Applying that common principal is key to understand the importance of investing in the future and maintaining a brand presence by keeping an open sign on your front door.

Laying a sustainable marketing foundation that supports future growth and ultimately reminds people that you are there “strong and free” or that you are“just do-ing it” whatever it is that you do, whether it be running shoes http://nikeid.nike.com/nikeid/index.jsp( cool site/store)  or candy http://www.pez.com acknowledging your future today is key to any companies success.
Back in the day a sign, an address and a contact number were big things that showed people who, what and where you are.  Today, showing people “who you are” and “what you are doing there” is a much more complicated process.

To Properly Market ourselves we must always understand our Audience. Start by asking the who-what? the where-when’s? and the why’s

Who is our Audience? and What do they do? Where do they go? When do they go there? and Why do they wake up in the morning? …etc.  This of course leads us to the question how do I get them to know or understand my product or brand?

Today we use it all. Social media, Mobile media, blogging, television, viral video, internet campaigns, mobile campaigns, dynamic content multi-media campaigns, etc. We find what ever way we can to reach out and tap our audience on the shoulder….sometimes in my sleep(bugger off!)
This makes me think that not just for some, but for most of us this new way with Modern technology: Internet, Television, Facebook, Twitter, LinkedIn, etc. could possibly be an easier way to maintain a brand and a presence in comparison to owning a shop paying rent and having a sign and a phone, some 100 years ago.

Who knows though? What if monthly rent on the internet goes up and business on the internet share the same economic dilemma of an era gone by. Will Websites close? Will they put brown paper on our windows(and Macs) Just like the doors on the shops years ago…let’s hope not.

Still you may ask What do I do with my marketing dollars?

We say “hang in there”…”keep with it”.  Just like all industries and maybe even more than some, the marketing industry offers tremendous opportunity for companies to gain market share and to experience growth and prosperity through proper brand management, including brand building and awareness techniques that can help you to be successful and take advantage of a recession.

To see what others are saying about Marketing during a recession check out the links below:
http://www.bsfreemarketing.com/marketing-campaigns-that-relate-to-the-times-marketing-in-a-recession/
http://bx.businessweek.com/recession-marketing/
http://blog.marketo.com/blog/2011/05/strategies-for-b2b-marketing-in-a-recession-part-2.html
http://www.theppcguru.com/six-steps-to-marketing-during-a-recession.html
http://www.imanetwork.org/080911-internet-marketing-thrives-during-tough-economic-times/

And for  reminder of what was being said before the last recession of 2008, check these links:
http://hbswk.hbs.edu/item/5878.html
http://blog.marketo.com/blog/2008/06/7-strategies-fo.html
http://marketing.about.com/od/marketingtipsandadvice/a/mrktrecession.htm
http://www.buzzmaven.com/2008/01/marketing-during-a-recession-get-the-wind-at-your-back.html

Sites like the Government of Canada promote the idea of continuing with your marketing plan…When asked Should you continue to promote your business during a recession? The Government site recommends that in most cases, it is wise to carry on with your marketing plan “History and research shows that businesses that cut back on their marketing during slumps tend to fall short in regaining their customers.”
http://www.canadabusiness.ca/eng/guide/1627/

 

By Mike Harris, posted on August 11, 2011, filed under Marketing, Mobile Marketing, Recession, Social Media, Staying Connected.

2 Comments

  1. Charlotte
    8:11 pm on May 27th, 2013

    Thanks for finally talking about >Marketing During a Recession – Mantaray Creative <Loved it!

  2. mantaray
    10:09 am on May 29th, 2013

    We’re impressed you found this, Charlotte! You’re welcome, and thanks!

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