Recession game plan time......
Updated: Oct 18, 2018
The current economic conditions are forcing business to play smarter. Are you?
Competition is tough all the time and staying ahead or getting ahead is no small task. Recessions provide the ideal time to make the leap while your competitors cut back.
Whether you are the leader or trying to make it bigger, now is the time to make your move! I do not say this lightly, I understand that every cents counts. During these times you need to make your R10 spend bring in R100 value. No small task, I know!
During the 2009 recession I was the marketing manager of large organisation. I was squeeze to maintain our leadership in our established brands but at the same time introduce and grow our new brands with less budget than before with only 2 brands! Sounds impossible right? It sure felt impossible but I made it happen.
How you may ask, well firstly ensuring every decision made was based on a sound strategy. Doing your homework pays and prevents costly mistakes. Next it was about being tactical with every move I made. You cannot be all things to all people and you certainly cannot afford to be in every magazine, or on every street pole, or in every post box……you get my point.
However marketing requires repetition, a constant drip effect that ensures when your product or service is needed, your are top of your consumers mind. Sounds expensive and not achievable during the recession but when you have identified through strategy the essential and you do it well, you will achieve the results you set out for.
And finally sticking to the decisions made not matter how it looked at times. It can be easy to be swayed as things look bleak but if the homework has been done stick it out, the results do come.
So the game plan for recession
1. Play now while everyone else is not
2. Develop a sound strategy
3. Be tactical, only do what is essential and do it well
4. Back yourself
If the above sounds out of your depth and you need a hand to develop the strategy or implement one, contact me at Purpose Marketing and Strategy. This is now my Purpose, helping your business thrive during tough times through tactical marketing activities.