July 15, 2024

Recession Marketing

Good Morning,
Happy St. Patrick’s Day!
I like to take a moment to wish everyone a very Happy St. Patrick’s Day!
This week a friend and client emailed me with a question. I thought I would share it and my answer with you.
After the Covid crisis, I think we are entering a deep recession like the one in the 80’s. I am wondering if you offer a marketing program that allows business owners to thrive in a great recession?”
Part of my answer is as follows: “We are not in a recession, we are in a strange time. We are in a growth period. People are going back to work if they want; the jobs are out there. Inflation is running high, but there are a number of reasons for this.
The lower and middle class are feeling the pinch. Gas prices are coming down but extremely slowly. People are still spending money.
When people do slow their spending, they tend to cut out the extras first. They will spend money on the essentials, next on the list will be the needs, followed by the wants.”
What you have to do is position your products or services in people’s minds as essentials that they must have, like rent, gas or food. There are a number of ways to do this, but constant communication is the key.
Good continuous communications with your current and non-current customers is the best way to prevent a recession or any economic conditions that adversely affect your business.
Do you want to

  • Stay in contact with your non-current customers and make them current again?
  • Keep your current customers from going to your competition?
  • Protect your business from these strange economic times? Discover how by Clicking On This Link.

Till next time.