Originally written March 2011: Right now, I’m starting my training to compete in triathlons. When I’m tired, I want to quit soooo badly! However, that’s probably not going to get me to run, bike and swim for miles. So, I give myself a goal, and I must accomplish this goal before quitting. Marketing follows the same rules. In uncertain times, marketing is more important than ever! Set a budget, and keep on track. Staying on track shows confidence, and it will allow you to leapfrog your competitors who are reactive and driven by fear.
As with anything, when you get off track, it is extremely hard to get back on track. A McGraw Hill study on the 1981-1982 recession shows the positive performance results of companies who maintained or increased their marketing budgets during the recession achieved significantly higher sales growth during and following the recession. While it may not be practical for all companies to increase or maintain their budgets during a recession period, it is important to determine a budget, focus on profitable targets, and utilize creativity and persistence to reach your customers. Don’t fall behind your competition by disappearing during the tough times.
You don’t have to spend a lot of money to keep your message in front of your customers and prospects. Use your imagination (or ours) to find the right way to market effectively to your customers and prospects. There are many ideas out there, so go ahead and be creative, but DON’T LET YOURSELF SLOW DOWN!