Secrets

Now Really is the Time for Marketing!

There is a widely reported “downturn”. Retailers are discounting, the banks gave us the credit crunch and businesses face an uncertain future. Or do they?

One thing is for certain; cutting back on marketing will not help. Whilst cost cutting is an inevitable side effect of a dip in business (whatever the reason), it’s only half of the equation. If you’re not working hard at getting more business in, it won’t be enough and that’s where marketing must continue – increase even.

The most successful businesses raise their prices during a recession because they understand that they need to keep their competitive advantage. And who will be there to mop up market share at the end of the downturn – the businesses who stopped marketing or the ones who the customer remembers (because they carried on marketing)?

We’re not the only people writing about this:

http://www.freshleafmedia.co.uk/blog/dont-cut-back-marketing-when-recession-looms/

http://www.ukprwire.com/Detailed/Advertising_Marketing/Survey_Says_Bullish_UK_Small_Firms_will_Spend_More_on_Marketing_33605.shtml

For many of us it’s about being smarter with our marketing, putting together a good plan, sticking to it and choosing the marketing mix that will get the best return for every pound you spend. With Internet marketing becoming more widely understood, there are many tools available to us now that are no or low cost, except perhaps in time. Blogging, social networking and updating your website are all really good starting points.

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