Press Release Author: David E. Johnson/ Strategic Vision
Industry: Marketing
Press Release Summary: David E. Johnson offers advice to businesses on marketing during a recession.
Press Release Body: News of an economic downturn or even the dreaded the "R" word - recession - is all about us. Turn on the news or look at the paper, and they are full with rising oil prices, subprime failures, credit crunches, and rising unemployment numbers. For most businesses this means it's time to cut costs in order to maintain profits, and yes, even to survive. One of the first things that businesses cut is their marketing and publicity efforts. That is the worst thing that any business regardless of size can do during a recession. To recession proof your business the best thing you can do is market and publicize your business, its products and services. Increasing business in uncertain economic times is key to maintaining your business. This can be done through smart and cost-efficient marketing and publicity. For every person who says that is ridiculous, let's not forget Proctor & Gamble launched Ivory Soap during the depths of the Great Depression or that Wal-Mart launched the Every Day Low Prices campaign during our last economic downturn. The reason that these campaigns worked and these companies thrived was they knew their target audience and what message would resonate with them. The old conventional wisdom is that marketing and publicity is wasted during an economic downturn. Let's think about this, if every business in your field is basically pulling back and not promoting themselves, is this the time for you to follow them? Of course not. It's the time to promote your business and reach your target audience. Whether you are a consumer driven or business to business driven company, potential customers are still looking for someone to fulfill their needs. By promoting your business during an economic downturn you are reaching these potential customers when none of your competitors are. Think of it as a marathon. If you were running a marathon and the other runners pacing themselves and lessen their efforts, your best move is to kick it up a notch and move forward - potentially positioning yourself out front. The key to success is thinking strategically and being proactive. First know your target market. Knowing your target market then allows you to develop a message that will lead them to seek out your product or service. For example if it's a consumer, know what they think, know where they are, and how to reach them. Realize exactly how these economic times are hitting them. Then create your message around that pain and how your product or service will benefit them. If you are targeting another business, realize that like you they are seeking ways to make their business more cost efficient during this downturn and devise your message in reaching them in how you will solve this problem. The other thing to remember when marketing during this downturn is that you don't have to be flashy and spend large fortunes on your marketing and publicity efforts. What you need to do is have a strategic plan that will utilize the media through press releases, expert opinions, and product demonstrations. Develop a blog which many consumers and now even businesses seek out when looking for services or products. Network in your community through the chamber or commerce, business and trade associations, and industry trade shows. Sponsorships of community events is important as studies demonstrate that more consumers will purchase from a business that supports the community during a downturn then from one that does not. Finally, if you are doing advertising, remember it can be purchased often at a cheaper rate during a recession. Remember the key is not to cutback your marketing and publicity during the downturn. Businesses that do cutback on marketing and publicity, take longer to expand after the downturn. Even more important if you are marketing and publicizing your business during the recession when your competitors are not, you are recession proofing your business because you are reaching customers and buyers when your competitors are not. David E. Johnson is the, CEO of Strategic Vision, LLC, an Atlanta based public affairs agency. He may be reached at djohnson@strategicvision.biz. ###
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Contact Details: Strategic Vision 2451 Cumberland Pkwy. Suite 3607 Atlanta, GA 30339 David E. Johnson 404-880-0098 djohnson@strategicvision.biz www.strategicvision.biz
2022
