14 Experts Share How to Recession-Proof Your Business
October 14, 2015
In both strong and weak economies, your company deserves promotion.
Last month, Statistics Canada confirmed the Canadian economy slipped into recession in the first half of the year for the first time since 2009. Too often, news of a recession causes decision makers to panic and contract their marketing efforts. However, reacting by “going quiet” can unintentionally harm a brand.
Bottom line: Even though Canada is in a recession, don’t stop marketing!
In fact, your company can benefit during tough economic times by becoming more aggressive in your marketing outreach. That’s because you tend to face less competition and gain a better chance to make your brand top-of-mind.
How to succeed in any economic climate
To make your marketing affordable – regardless of the economic climate – use these tips from marketing, sales and business experts from Canada and around the world:
“Never step off the gas. By that I mean never stop selling. You need to maintain a certain level of networking and prospecting momentum to mitigate revenue volatility and smooth out the ups and downs.”
~ Andrew Jenkins, Principal, Volterra Consulting, Canada
“Design a well-planned, exciting email campaign.”
~ Susan Bradley, Founder, The Social Sales Girls, Canada
“Co-Promote is a wonderful free resource if you use Twitter for your business. Users share your tweets with others for free and get their tweets shared for free also. It’s a win-win for all involved.”
~ Adria Houghton Bonk, Owner, Glow of Nature, Ireland
“Start an email list of potential clients. Send email updates or reminders about your service. (Ask for permission to comply with anti-spam laws). Plus email services like Mailchimp are free if your contact list is under 2000 contacts.”
~ Adina Zaiontz, President and Director, napkin marketing, Canada
“Contact bloggers in your niche who welcome guests and send your content to them.”
~ Alex Stearn, Amazon best-selling author, UK
1) 2 week free trial of SOCEDO for lead generation; request they include email addresses
2) LinkedIn group engagement
3) LinkedIn connection ‘introduction requests’
4) LinkedIn profile visitors outreach
5) Proven email templates (e.g. HubSpot)
6) Produce a ‘personalized video’ talking to specific top prospects sent via email to stand out and humanize the communication.”
~ Duane Lacey, Managing Director, Sales Accelerant, UK
“Stay loyal to your customers in good times and bad; they’ll trust you even more when things get better.”
~ Dr. Philip Savage, Associate Professor, Department of Communication Studies and Multimedia, McMaster University, Canada
“Utilize data driven and lean marketing techniques that use an evaluative mindset to create enhanced segmentation and targeting, to minimize inefficiencies, while focusing on actionable metrics.”
~ Tammy Graham, Director Brand Development & Customer Acquisition, Premiere Suites, Canada
“When times are tight, there’s no better way of finding new business than networking. Frequently put yourself face-to-face with your prospects and make real connections.”
~ Marlowe Andreyko, Owner and Creative Lead, Yes Creative, Canada
“1. Use as much social media as possible – it’s free or low cost. Networking is key to your popularity and recognition.
2. Always track your marketing expenses and review your marketing budget frequently.
3.Your best marketing is your reputation. Satisfied clients bring you more clients – it’s free marketing.”
~ Elena Furier, President & CEO, Revenue District Chartered Professional Accountants, Canada
It doesn’t cost anything to blog and use social media. Also, on-page SEO is a must.
~ Cheryl Green Smith, Owner, Solo Web Solutions, US
“Twitter + PR + Facebook ads – cheap, well-targeted ads on Facebook will help you grow. Use Twitter to find press opportunities by using the hashtags #journorequest or #HARO (US) and respond to journalists fast for free publicity.”
~ Melissa Collier Talago, Owner, Campfire Communications, UK
“Create competitions to draw customers’ attention on all your social media platforms.”
~ Charlotte Julien, M&O Naturel, Switzerland
“Get as much value from the content you produce as you possibly can. You can transform one blog post into a series of social media posts, a Periscope broadcast or YouTube video, enewsletter, podcast … the list goes on.”
~ Rebecca Coupe, Digital Marketing Consultant, Infinity Digital, UK
Reframe the recessionfor success
As these experts and business owners prove, a recession is an opportunity. You can strategically choose affordable marketing tactics to make your brand stand out, especially if your competitors shrink back in reaction to the economic downturn.
SheEO founder Vicki Saunders’ powerful perspective nails it, particularly in a recession: “It’s a great time to be an entrepreneur: Everything’s broken. So be the solution.”
What tips would you add?
P.S. For more valuable tips on content marketing, sign up for my newsletter, Strategic Communicator, on my homepage at lisagoller.com
Lisa Goller helps businesses tell their story. As a Toronto-based Strategic Freelance Writer & Editor, she helps executives and entrepreneurs stand out, look good and save time. Learn more at lisagoller.com