Recessions are like rainstorms. They’re not something you can avoid.
They’re something you prepare for.
Just as you might keep an umbrella or a raincoat around, a business owner needs a plan in place for when the economy takes one of its natural, cyclical downturns. And that plan should not include winding down or stopping your marketing efforts.
You just need to approach the market with a recession mindset.
An ugly economy can be just as good a reason to buy something as to not buy something. When consumers experience financial anxiety, they don’t respond only by hoarding cash. Many respond by looking for more value in every purchase.
In other words, people don’t always shop less in a recession. They often just shop smarter.
All you have to do is position your product or service as the smartest choice! Today, we share our approach to marketing when things aren’t exactly bullish. With a little strategy, optimism, and trust in the good sense of your customers, you can not only survive a recession, but thrive in it.
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The post MBA2186 How to Market During a Recession appeared first on The $100 MBA.
