Marketing in a Recession

by Benj Miller | Feb 28, 2023

When we’re looking at things like a recession and layoffs as a business owners, so many things are occupying our minds. During this time one of two things often happen – we either hold back all marketing dollars and don’t do anything OR we get scared and start to market like crazy at anyone and everyone hoping to grow. Neither of these are great options. 

Instead, here are 2 things you should be looking at when it comes to marketing in a recession:

1. Grow by focusing on your current clients. Look at your current roster of clients. How can you help them? They’re going through the same things as we all are and are likely faced with the same fears. What services do they need that you offer? How can the relationship grow in a way that’s mutually beneficial? 

2. Look for ways to be more efficient with your marketing budget (rather than cutting it completely). Do you know exactly who your target market is? Even better, do you have a list of company names you’d like to work with? When we know these things we can be smarter with our marketing dollars. The more niche, the better.

The more efficient we can be with our marketing, the better we can manage our marketing dollars to ensure we aren’t wasting anything. And often, during a time like a recession, there is less competition as people pull back from marketing. Be the brand that is there for your audience when they need it most.