In tough economic times, history has taught us that it can be greatly beneficial to your company and help grow your brand faster than it would during a more stable financial climate.
You may think cutting marketing during a recession is a good idea because less people are buying and it could take up precious funds, but this couldn’t be further from the truth.
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Your business is less likely to succeed in the long-term if you reduce your marketing, regardless of economic factors. The saying “out of sight, out of mind” is true for marketing.
To avoid losing customers during a downturn, it is vital to continue marketing. Your marketing efforts are your connection to your consumers and without them, you are likely to see a drop in sales during the downturn. Your competitors who are still marketing will be drawing away customers from your company.
A stable or increasing marketing budget has the potential to convert at a higher rate than when in a positive financial climate.
