Is This a Bad Time to Market?
All economic indicators say we are in a recession. Consumer and business spending is down; unemployment is up. It's natural to wonder whether perhaps this is a bad time to be marketing your business.
Since I've been self-employed for almost two decades now, I've seen several economic cycles come and go. What I notice about these down periods is that people who frequently struggle to get clients typically think these are bad times to market. In contrast, people who have been consistently successful at landing clients seem to believe that there is never a bad time to market. Personally, I'd vote to follow the lead of those who are succeeding.
Professionals who have built successful long-term businesses have learned that continuing to market pays off in both the best of times and the worst of times. But you may not be able to produce new results by marketing in the same old way. Here are six suggestions for how to keep your marketing up when the overall business climate is down.
1. Turn up the volume. When people are distracted by bad news or economic concerns, you may need to communicate more often or more visibly. Where an e-mail might have done the job before, now you may need to pick up the phone or send a postcard. Instead of just one follow-up call, you may need to make two or three. If your business is slowing down, make use of the extra time you have available to ramp up all your marketing efforts.
2. Become a necessity. ...