These are all very relevant and important questions to be considered, and if at all possible, they need to be answered when planning the marketing for the next chapter of our businesses, but where does a local business owner start?
In order to plan your marketing activity during these uncertain times, it will help to understand what happens in a recession and what role marketing has for your business during one.
In the simplest of forms, the characteristics of a recession can be split into three stages –
Stage 1, The initial downturn and pause in work, this is when most businesses take stock of what is happening around them and in their sector.
Stage 2, Once disruption has been managed and the new levels of working are understood, it is time to start planning for recovery and moving ahead.
Stage 3, Business volume and activity is starting to resume, and the time is right to think about returning to normal or to catch up on lost ground.
When viewed chronologically, these form a U or V, hence why a recession is sometimes referred to as a “U-shaped” or “V-shaped” (as well as a few others).
Your marketing activity and it’s messaging is best suited to the actual stage your business is currently situated, as each stage will require a different message.
Now you have a better understanding of marketing your business in recession, what do you need to think about next?
The next few months may be a period when local businesses are challenged to adapt to changes in consumer behaviour and everchanging restrictions enforced upon them.
How will you market your business during the recession?
RH Uncovered is perfectly positioned to guide any local business with advertising and marketing to local communities over the months to come. We’ve been publishing since 2006 and have worked hundreds of local businesses every single month since then.
Unsure what marketing your business needs?
Improvements in web design and digital software have made many marketing activities accessible to the smallest business and it is now possible to track many parts of the campaigns you are running. However, understanding where you should be putting your attention can be both confusing and daunting.
We are offering a FREE local marketing review for any local business that is unsure what marketing they need or what steps they need to take next during the recession?
To book your FREE marketing review, simply complete the short form on the following page and we’ll schedule in a suitable time to talk to you about your business and your marketing needs.