It’s official – we’re in a recession. (If you didn’t already know that, have your doctor check your dosing… ) Some small business owners think in terms of surviving down-turns in the economy, but I’m here to tell you that your business can thrive in any economic situation.
According to most experts, the major mistake that small business owners make is decreasing the marketing budget when times get tight. The solution is not to spend more, it is to spend more wisely.
It makes sense when you think about it: your customers are most sensitive to issues of cost right now, and they are looking for reasons to differentiate you from your competitors. Not all businesses can be a price leader like the big box stores, so we are left to communicate why we are the better choice to people who are not paying as much attention to issues like value, service and quality.
And here’s the key: you can’t communicate why you’re better if you stop talking. Granted, very few companies have the budget to saturate a market with image advertising, but that just points in a new direction.
Now is the time to get creative with your marketing budget. There are four major themes to any recession-proof marketing strategy.
- Keep your current clients
- Increase your outreach to potential clients
- Collaborate with other small business to build strength in the market
- Bring the flexibility of small business to the table.
Contact CDA Graphic Design today and let us show you how these four principals apply to your business.