cuts

Due to the recent economic difficulties, many small business or home-based business owners are turning to their marketing campaigns to achieve budget cuts. However, historical data indicates that marketing cuts may be difficult to recover even during the recovery period. Read on and I’ll share five recession-proof marketing strategies that can boost your business.

recession marketing

A study published by McGraw-Hill Research followed 600 companies from 16 different industries for five years to study their marketing, including recession. The data from the study indicates that companies that maintained or increased their marketing budget spend had 256% sales growth compared to those companies that reduced their marketing spend. In reality, those who reduced their marketing had only 19% growth over those same five years.

Improve your game with these 5 strategies

1. The answer is not to cut back, but to make sure you don’t waste any of your marketing budget. You must first have a measurable marketing method that allows you to determine the cost per lead, cost per sale, and lifetime value of a customer. Not having this data is like throwing money out the window.

2. Provide solutions to your prospects by using your copy to proactively address their concerns. During tough financial times, consumers are more careful about where they spend their money. Address these financial concerns head-on and before your leader can identify those roadblocks.

3. Review your UPS (Unique Selling Proposition). Does it really differentiate you from your competition? Does it explain how your business will benefit your potential customers? Develop a powerful USP and draw your potential customers to your personal story. Remember, today’s consumers respond much better to a personal touch than a hard sell.

4. Buy low. That is, look for special offers, rebates, and deals from your marketing campaign providers. Take advantage of price cuts on printing, lead lists, media costs, and shipping.

5. Consider new media, such as direct mail campaigns, radio ads, or even local TV commercials. Send your newly strengthened USP to the world using all the marketing avenues you can afford.

Growth opportunity

Although consumer spending changes during times of Economic recession people will continue to spend money. Take advantage of these changes in spending and use a proactive approach to capture the attention of your potential customers. Turn your efforts into recession-proof marketing campaigns and start fueling your business growth today.