When a recession comes, don’t stop advertising. Dropping your ad budget destroys all the work you’ve done over the previous months and years, and puts you in a disadvantageous position when the economy picks back up (and it will pick back up).
Take advantage of this time to stand out. Here’s how you will benefit:
Greater Share of Voice.
In almost all product and service categories the noise level will drop as competitors cut back on their outreach and sales activities. This means there is a greater share of voice available for local businesses to stand out.
Trusted brands make consumers feel safe. By communicating with your community you can project an image of strength and stability during challenging times.
You can use this disruptive time to reposition your business and/or market approach to meet consumer needs. Communicating this new approach will help you build stronger relationships with your customers.
Communities want to give back and support local businesses. Take the opportunity to promote gift cards or free delivery. If you give your community ways to support your business, they will!
Be brave, be bold and get after it.