When your competitors are slashing budgets, cutting costs, and virtually ignoring prospective customers, will you be watching from the sidelines or engaging those customers with your own marketing messages?

The difference between companies that fail during a recession, companies that survive, and companies that thrive is the level to which they are willing to forgo short-term relief in favour of long-term prosperity. When the phone stops ringing and sales are weak, don’t be tempted into hibernation mode to weather the storm. A tightened market is the most vital time for marketing activities as part of a strategy for growth. So, how can you make the most of a struggling economy?

Bag a Bargain
When other companies cut their marketing spending, media prices drop and ad space opens up, a combination that lets you pick up premium opportunities at a lower cost. Vendors are struggling for customers too, and now is the time to negotiate a bargain. Investigate new advertising and marketing options, like pricey billboards or even television spots, that weren’t an option before.

Less Clutter, More Impact
As your competitors slash budgets, their market messages fade. It’s up to you to fill the void. Your message travels farther and more clearly in an uncluttered market landscape: you have the undivided attention of your prospective customers. Even maintaining your marketing budget at pre-recession levels will result in amplified market resonance due to the absence of some, if not most, of your competition. read more »