Marketing Tips: Tough Financial Times

Marketing Tips - Complete Controller

Marketing plays a vital role in getting through the recession and emerging as an improved brand by practicing vigilant recessionary thinking. Although slashing budgets and laying off the workforce is always an option for businesses, they should initially view tough times as an opportunity to grow internally and externally. It may appear to go against common sense that a recession can boost periods of economic growth. However, professionals believe this is a perfect time to revisit your branding strategies and align them with your core business values.CorpNet. Start A New Business Now

Making intelligent plans for your business will ensure you stay ahead of the competition even in dire times. Here are some of the tips that will help you survive critical situations.

Marketing Tips

Focus on Loyal Customers

Attracting new customers is hard when times are tough, as everyone is in a tight situation. This is the time to trigger your recessionary thinking and develop effective marketing strategies that keep your existing customers engaged in one way or another. You must retain your loyalty through exceptional services and products, personalized marketing channels, and unpretentious concern for your partners and clients.


Combining your resources with a partner business in targeting the same clients is a great strategy to cut costs and avoid conflict of interest. The focus should be to partner with firms that want to attract the same customer base as yours but are not directly competing with you. Encourage your partners by offering incentives that can help their business. This will connect both companies, which can translate into the conduction of seminars, trade shows, and partner marketing campaigns, which benefit both parties.

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Suppose two businesses are working together and share similar business philosophies and objectives. In that case, there is a higher probability that their recessionary thinking is along the same line and is desirable for both.

Don’t Miss an Opportunity

As much as tough times can set you back, there is also a chance for you to acquaint your business with feasible markets. Reevaluate your business units and unprofitable products and whether they will have any influence after the recession. This is an opportunity for you to internally audit your business processes and eliminate things that can impede your future productivity. Have a keen eye for upcoming market segments, as they will allow you to tap them before anyone else. Your team of experts’ marketing tips will play a vital role in targeting these newly created segments.


Advertising in tough times may sound like a flawed idea, but, in reality, this can be significant for your business’s survival. Analyze the placement of all your current marketing campaigns and only continue with those creating the most direct impact.

Often, businesses cut their advertising budgets in tough times as an easy way to cut down on costs; however, there is a higher chance for you to reach a potential audience because of lesser competition in the market. Smart recessionary thinking is required from you in this situation, as you can renegotiate with advertising sources and reduce costs significantly. As you have more leverage over your media agent in bad times, ask them to place your ads where they generate maximum reach.

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You will practically have the same workload in tough times as you had before. It is often hard to efficiently carry out all the tasks because you may have laid off some of your workforce. Other resources are also limited, and you are in dire need of some practical marketing tips. Outsourcing some of your tasks like graphic designing, media strategizing, writing, and editing to the hands of an expert will save you the costs associated with them and ensure their high quality. The outsourcing agencies have specialized skills, which can also be a competitive advantage.


Search engine optimization diverts traffic towards your business through specific keywords. A manager with shrewd recessionary thinking will use SEO to carry out most of its marketing plans. It costs less than traditional advertising mediums and, if executed properly, can generate a high visitor flow towards your website. As most internet searches are through Google and other search engines, your business will be better off if it appears among the top results. However, your website must be highly responsive and aesthetically pleasing to create an impact on its visitors.


Following these marketing tips is essential, especially in a time of recession. Be proactive in your approach and make use of all available resources. Video advertising on social media has emerged as one of the most popular and effective advertising mediums. A successful video can generate a broad reach and, if it goes viral, can reshape your entire business. Success in recessionary thinking depends on adapting to the situation and efficiently using the available tools and resources. 

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