In times of uncertainty, hold your nerve and keep Doing the Marketing.

In times of uncertainty keep doing the marketing

Originally written and published in May 2019 but still relevant today!

During the current climate of uncertainty about the current and future economy, it is very easy to ‘batten down the hatches’ and hold out for an improvement later. The risk of this strategy is missing out on current opportunities and worse, allowing a competitor to position themselves as the market leader.

From our own business experience, we know how easy it is to just focus on your current customers and stop, or reduce your marketing activities, but this is a mistake. While it is commonly understood that you receive 80% of your income from 20% of your customer base, just relying on this to see you through market downturns is a risky strategy. What would happen if just one of your core customers goes out of business or moves its purchasing decisions to another country? You are then left in a very precarious position, desperately trying to find another large customer.

So for our own business, regardless of how busy we think we currently are, the marketing activities are never put on hold and we continue to follow our Monthly Plan, which you can read about in our previous blog “What do I need to action across a month to keep my marketing going” . In this way, should the worse happen, at least we are already talking to new potential customers, but at the same time building the awareness of our brand in the market as a whole.

It is definitely harder at the moment to release money on marketing, but the risks of not keeping in regular contact with your customers and potential customers could be more damaging in the long term. After all, brand loyalty is something that takes time to build up but is lost much more quickly.

So keep doing the marketing!

Creatively Yours…

Creatively Yours Ltd helps businesses like yours succeed online through website design, website development, and our Helponomics system that offers support and training as you need it and highlights areas that could increase your sales.

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