Businesses and consumers are cutting back on discretionary spending, which could mean lower response rates for you. On top of that, many marketing budgets are being cut. This combination has sent many marketers into a panic. That’s why you need to reevaluate your marketing game plan for this recession. Here I’ll reveal the specific actions you can take to survive this economic downturn and be more successful in 2009.
Having helped clients through 5 recessions, I’ve seen firsthand what works and what doesn’t.
To everything there is a season
First, it is important to know that recession is a normal part of the business cycle. The U.S. economy will come through a downturn or recession and then enter a new period of growth. But the hard truth is most recessions last about 16 to 18 months. This current one began in December 2007, but will probably last into 2010. And with the government scrambling to implement dramatic economic policies that will likely cause more harm than good, some economists project that we won’t see the end until mid-2011. Whatever the length, you can increase cash flow and profits now…and secure a major advantage over your competitors. You can also expand your market share in the next few years.
Anticipating economic reality: Knowing the 4 economic trends
Before we look at the 9 recession marketing strategies that you will need to survive and thrive in this recession, every marketer should be aware of 4 basic economic trends that will affect your campaigns.
1. Deflation
A downturn in the economic cycle reflecting declining prices and a credit contraction. Our current historic deflation was predicted by a number of economists and investment advisors over the past few years. It’s not a recession, but an economic crisis of inflation accompanied by a recession.
2. Inflation
A rise in the general level of prices of goods and services over time caused by high rates of growth in the money supply. Inflation can be thought of as a decrease in the value of the unit of currency. It is measured as the rate of change of a price index. Because of the massive government bailouts and deficit spending, this will be your marketing enemy in a few years. Under the Carter administration, inflation shot up over 12%. Under George W. Bush, it was up to 6% by November. Now it’s dipped back to about 3.4% because of deflationary pressure. Expect to see inflation rise at the start of next year.
3. Recession
A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two nonsecutive quarters of negative economic growth as measured by a country’s gross domestic product (GDP). Unemployment is still lower than it was under Jimmy Carter.
4. Stagflation
A condition of slow economic growth and relatively high unemployment. It is a time of economic stagnation accompanied by a rise in prices, or inflation. This could be what we are headed for, lasting for 5 to 10 years.
By anticipating and understanding these economic realities, you can better adjust your marketing message and strategy. The key is to approach your challenges strategically and tactically-rather than act out of emotion and fear. When the late Sam Walton, founder of Wal-Mart, was asked what he was going to do about the recession years ago, he answered: “We don’t plan to participate.”
Lessons learned from the past 5 recessions
One of my favorite recession research studies gives us some strategic guidance for you.
McGraw-Hill Research published a study of 600 companies in 16 industries over a 5-year period that included a recession. Researchers concluded that firms that chose to maintain or increase their marketing budgets experienced sales growth that was 256% higher than those companies whose advertising suffered. Furthermore, those who cut back on their advertising realized a small increase of only 19% in that same time period.
Here is another lesson learned from the last recession: The 25% of companies that increased their marketing budgets saw an increase in market share that was 2.5 times greater than competitors who cut back. But that’s not all you need to know. Here’s what I’ve learned from past recessions…
Companies that don’t adjust their marketing to the new economic environment suffer.
Businesses that follow the direct marketing model trump those who rely on traditional advertising.
Historically, companies maintaining or increasing their direct mail marketing through economic downturns increase sales and market share during and after the slow period.
Businesses that regard direct response advertising costs as investments rather than expenses enjoy higher long term dividends.
Companies that stay aggressive in a downturn seize market share from more timid competitors.
Companies that cut back will lose revenue and opportunities, with fewer upsells and cross-sells for several years after the recession…profoundly impacting the bottom line in the long-term.
https://5rolikov.com
https://laundromartfl.com
https://metsatissue.com
https://statehouse.go.ug
https://knotch.it
https://sentia.nl
https://porloschicos.com
https://yxwhcm.com.cn
https://foundry.com.cn
https://kenkyusha.co.jp
https://lincolnsinn.org.uk
https://tokai.ed.jp
https://quick-cool-shop.de
https://7895666.com
https://bureaucontext.nl
https://telr.com
https://qhec.gov.cn
https://websco-innovations.fr
https://kalliope-verbund.info
https://koiris.com
https://dino.com.br
https://metro.bar
https://cityoflagunaniguel.org
https://dfnionline.com
https://goldenrice.org
https://flaregames.com
https://insoftlab.ru
https://yiqiban.net
https://tripzero.events
https://akalmie.fr
https://qqcff4.com
https://vipro.ru
https://85559.cc
https://linuxweb.co.za
https://mga.edu
https://bcge.ch
https://roundtower.com
https://swinging-love-club.tumblr.com
https://swingingloveclub.wordpress.com
https://firmseek.com
https://troxy.co.uk
https://patronet.hu
https://codebender.cc
https://mansfieldtexas.gov
https://clinic-kyokasho.com
https://balo0.com
https://gospelmusic.org
https://st-hippolyt.de
https://kyte.site
https://netinup.fr
https://parentdish.com
https://ksss.se
https://aurorak12.org
https://mhcat.cat
https://ibsnet.co.jp
https://outils-horloger.eu
https://erealtymedia.com
https://statueofunity.guide
https://pjbyjc.com
https://savetz.com
https://xzit.edu.cn
https://necs.com
https://foxygirls.co.uk
https://gebarencentrum.nl
https://usbankstadium.com
https://sinaldesign.com.br
https://memecdn.com
https://goldeneyewinery.com
https://voopter.com.br
https://go-centraljapan.jp
https://yibin001.cn
https://crcement.com
https://githowto.com
https://genbetadev.com
https://goufw.com
https://serviceworkportal.com
https://fosterfarms.com
https://prinzhorn.github.io
https://azhostinq.biz
https://janggicafe.com
https://clsphila.org
https://pentecostalpublishing.com
https://retailsector.co.uk
https://fediol.eu
https://businessufabet.com
https://still-academy.de
https://aihs.org.au
https://thatericalper.com
https://latex.org
https://prazdelys-sommand.com
https://garageio.com
https://riverrock.com
https://redhatmagazine.com
https://clinicalsup.jp
https://hannan.lg.jp
https://mailmen.co.uk
https://starkvilledailynews.com
https://czechia24.cz
https://brilliantexperience.com
https://skyrama.com
https://qnb.com.qa
https://plogue.com
https://pediment.com
https://hcandl.co.uk
https://disneymusicemporium.com
https://dossiermanager.nl
https://baikal-media.ru
https://casavicens.org
https://limasky.com
https://143.95.155.100
https://lacoop.coop
https://mw-itworks.de
https://digigram.com
https://theclevercarrot.com
https://dhl.ch
https://mca.org.uk
https://menabytes.com
https://hanergy.com
https://xn--fackfrbund-icb.nu
https://sh-shuguang.com
https://genkosha.com
https://asccare.com
https://365diary.net
https://saudedoshomens.net
https://english-zone.com
https://freecreditscore.com
https://sandoscancunresort.com
https://zimrre.com
https://langsec.org
https://sfsmallbusinessweek.com
https://dejusticia.org
https://helloenjoy.com
https://dubaiprnetwork.com
https://scotpho.org.uk
https://bclions.com
https://hostigger.com
https://airlive.net
https://mypromohq.com
https://theelector.com
https://truesocialmetrics.com
https://mexicotravelclub.com
https://cdb-vape.com
https://hanihoh.com
https://ceecr.cz
https://moochcreative.co.uk
https://bigtexan.com
https://orindaben.com
https://mustanglist.com
https://vintage-computer.com
https://shredex.ca
https://creativepixelmag.com
https://cventevents.com
https://storymuseum.org.uk
https://yangliapp.com
https://fc-carlzeiss-jena.de
https://middevon.gov.uk
https://lisboncouncil.net
https://rrbbbs.gov.in
https://vseosvita.ua
https://pinestreetinn.org
https://amba.org
https://cosmeticshorts.com
https://txcourts.net
https://geometricglobal.com
https://nutonomy.com
https://japanlpg.or.jp
https://haozuojia.com
https://atlanticsuperstore.ca
https://egemen.kz
https://pixelthrone.com
https://cybc.com.cy
https://col.gob.mx
https://legislation.tn
https://snbdh.xyz
https://misanimales.com
https://boschservice-wagner.de
https://cphmag.com
https://l-factory.com
https://cebeo.be
https://de10leukste.nl
https://pjjsqc.com
https://groupe-adecco.fr
https://peacereporter.net
https://orbitresearch.com
https://jctvariablelease.com
https://travelclub.es
https://newgracemedia.net
https://rapidformations.co.uk
https://westfield.co.nz
https://canadian-pharmacheap.com
https://rurecovery.com
https://hnchuci.com
https://pr-ball.com
https://outoftheark.co.uk
https://skytechosting.com
https://renai.cn
https://his.org.uk
https://ateme.com
https://shg-kliniken.de
https://indettaglio.it
https://sightreadingfactory.com
https://mydentalhub.com
https://swoole.co.uk
https://utilitiesdisputes.co.nz
https://rijksakademie.nl
https://buy-cheap-viagra-online-now.com
https://ahra.org
https://canadianpharmaciesnnm.com
https://worldwisdom.com
https://buy-snap-followers.com
https://citrix.co.in
https://beonhome.com
https://aev-conversions.com
https://bluesoft.com
https://66.196.80.202
https://appa.es
https://varisol.de
https://lucasoilstadium.com
https://bezprawnik.pl
https://sd888go.top
https://pagesqatar.net
https://soushin-igaku.org
https://cheapesttitleloans.com
https://jfc-online.ch
https://law.edu.ru
https://officialticketcenter.com
https://latinawife.net
https://romadesign.it
https://eatgood4life.com
https://adventure-valley.be
https://geosphere.fr
https://rondevanvlaanderen.be
https://blacknegative.com
https://grupoccr.com.br
https://evca.eu
https://abbott.co.jp
https://triofunding.com
https://ordenswerke.de
https://jd9503.com
https://amigaos.net
https://mangauk.com
https://skydefproductions.com
https://ville-gennevilliers.fr
https://automotivelogistics.media
https://politik-kommunikation.de
https://shizuokachuo-bank.co.jp
https://olivier-tassel.fr
https://cancom-pironet.de
https://remicade.com
https://officialsite.co
https://virtualseeinside.com
https://thebestpageintheuniverse.net
https://rfc.museum
https://gsuitetips.com
https://cisstat.com
https://oresunddirekt.se
https://linuxserver.io
https://spicle.com
https://asyura2.com
https://presidencia.gob.pe
https://easyworship.com
https://resilience-jp.biz
https://irstaxforum.com
https://pwrdf.org
https://amsterdameconomicboard.com
https://xfs.jp
https://suttonhart.com
https://freebloggertemplate.info
https://securewinemerchant.com
https://fcnit.com
https://google-plus-g.com
https://goldspotmedia.com
https://swt.de
https://emagine-entertainment.com
https://alphatrust.de
https://copenhagenizeindex.eu
https://0791quanquan.com
https://101rentas.com
https://e-rewards.com
https://jvs-mairistem.fr
https://nationalgrange.org
https://abc.go.gov.br
https://kursana.de
https://leadnow.ca
https://enrollamerica.org
https://firesmartcanada.ca
https://lesdrevmash-expo.ru
https://jiaoyiju.com
https://naite.com.cn
https://apmarketingdesign.com
https://ketoinfiniteaccelforskolins.com
https://seti.fi
https://brainzooming.com
https://expatfocus.com
https://christmaslightsetc.com
https://myaddiction.com
https://halosleep.com
https://syndicat-reflexologues.com
https://ayk.gov.tr
https://kinder-verstehen.de
https://redandjuicy.net
https://americasbeautyshow.com
https://lefrenchtime.com
https://homeworkmarket.com
https://overandabovephoto.com
https://wood-clean.ru
https://adcyoungguns.org
https://svn.org
https://savethechildren.se
https://ufabetstock.com
https://caledon.on.ca
https://tripntale.com
https://ufabetspace.com
https://beacon360digitalmarketing.com
https://fun88thai.me
https://gilacountyaz.gov
https://octenium.net
https://lofficielitalia.com
https://dongting.com
https://tworcy.pl
https://radios.com.bo
https://591ba.com
https://globeop.com
https://ctu.eu
https://haylamdep.com
https://boj.se
https://dahabshiil.com
https://hotel-plaza.ru
https://franchiseregistry.com
https://animalfoundation.com
https://barbellsforboobs.org
https://artogama.lt
https://offsitestatus.com
https://playism.com
https://scopevisio.com
https://epcmax.com
https://oab-sc.org.br
https://thousandoaksoptical.com
https://masslandrecords.com
https://alceto.de
https://bti-project.org
https://theproudtrust.org
https://balotuixach.biz
https://poppendieck.com
https://ccdaily.com
https://hulinks.co.jp
https://thefoxwp.com
https://linghit.com
https://chomevabe.net
https://amaliearena.com
https://pensiero.it
https://lntour.gov.cn
https://133477.com
https://wasps.co.uk
https://gov.abudhabi
https://trannyclips.com
https://dbkhwl.com
https://tuidc.com
https://yapi.com.tr
https://die-schwenninger.de
https://noavrannano.ir
https://filekey.nl
https://zukunft-mobilitaet.net
https://99idc.cn
https://tigerbeer.com
https://maliactu.net
https://15334213023.com
https://gerbercollision.com
https://aad.to
https://958040.com
https://lnode.cn
https://bi-inter.com
https://dreamclic.com
https://cartegrise.com
https://websitecasinos.com
https://smallgiants.org
https://avtospec.site
https://glive.co.uk
https://parachuterestaurant.com
https://animeo.de
https://sinolube.com
https://st-group.com
https://quadrupleworm.ru
https://to-be-dressed.nl
https://tlapnet.cz
https://theworldlinks.com
https://kncvtbc.org
https://dharma.io
https://wernigerode-tourismus.de
https://fuchs-automation.de
https://hrgigermuseum.com
https://xiuzhanyun.com
https://rsystems.com
https://summit.nl
https://np-brijuni.hr
https://animikii.com
https://cybergeography.org
https://windowscratch.com
https://konfi.cz
https://nichegamer.com
https://ingrammicrotraining.com
https://reumaliitto.fi
https://zareason.com
https://alb-gold.de
https://smk.co.jp
https://philembassy.net
https://flbog.edu
https://leclairryan.com
https://coincorner.com
https://vordruckverlag.de
https://theoryofchange.org
https://esp.org
https://gscas.ac.cn
https://hhyr287.cn
https://prewarcar.com
https://sendwordnow.com
https://changbaishan.gov.cn
https://decowell.pl
https://countyconnection.com
https://mfzz.net
https://affinity.co
https://primcast.com
https://tipandroid.com
https://wareever.be
https://lws.be
https://3367.com
https://johnhawks.net
https://tckmedia.com
https://biaodoo.com
https://theadvocatesforhumanrights.org
https://evolution-x.fr
https://nutickets.com
https://alice.tv
https://terabyte.co.nz
https://masterd.es
https://dci-palestine.org
https://netserveit.co.uk
https://cyberlab.team
https://sanfordhistory.org
https://releasenotes.io
https://slimmerfitterstronger.com
https://signalement-sante.gouv.fr
https://joshkaufman.net
https://iakp.org
https://globel.co.uk
https://webmilazzo.it
https://gaya.fr
https://sbggz.nl
https://tower-research.com
https://sira.or.jp
https://toavn.com
https://bka.co.nz
https://my-audi.com.cn
https://tarahunt.com
https://ig-team.de
https://indeed.com.my
https://carrotquest.io
https://anthologymag.com
https://paperculture.com
https://tongguan.gov.cn
https://hiifon.com
https://autoprotect.co.uk
https://likeforex.com
https://mediakammer.de
https://metzlermedia.de
https://mitrarank.ir
https://puppylinux.com
https://goldensubmarine.com
https://makemyweb.gr
https://roommates.com
https://profalux.com
https://securesafemembers.com
https://papercoating.ru
https://schematherapy.com
https://guestetstrategy.com
https://blivesta.com
https://aliasmarketinganddesign.ie
https://samlaget.no
https://calwellness.org
https://youthtravel.tw
https://avisa-hordaland.no
https://cows-marketing.de
https://indoplay4d.vip
https://piccsy.com
https://rheda-wiedenbrueck.de
https://kitspak.com
https://beeraw.com
https://tillywig.com
https://kticradio.com
https://riscus.com
https://365eats.com
https://junkcarbronx.com
https://dixons.co.uk
https://youtube.ca
https://gooto.top
https://7776518.com
https://ugcc.ua
https://historycommons.org
https://techsytalk.com
https://atomy.kr
