How to Help Your Business Profit During a Recession
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Can a Business Really Grow During a Recession?
Every business encounters a slump at some point in its existance. The falling tide of broad-based economic recessions often seem to be sinking all boats equally but savvy marketers often prosper during these periods of doom and gloom.
Whenever a recession looms, small business owners or independent agents find themselves hustling harder than ever to stay afloat and ride out the economic downturn. It can be hard to manage your business when you have more time than money (or in some cases, more money than time).
You might have to absorb the job tasks of employees you laid off, or compete against others struggling to survive without a big budget to help you dominate the market for your prospects’ attention.
Slump marketing is a tactic you can use to do more than just stave off financial failure during a recession – it will help you grow your business substantially so that yours is one of the few businesses that thrives.
If you’re an offline business entity (or even an online one), you can use a myriad of online marketing tactics – many of which are free – to continue harvesting prospects and building financial success.
BlogTalkRadio show on Slump Marketing
Click to listen to the Slump Marketing Success radio show.
What Did Business Owners Do During Previous Recessions?
In the old days, men and women cut back significantly. They bought staples and said goodbye to luxuries because it was traditionally a one-person income. Now, both spouses are supplying spending money, so they have some wiggle room to cater to their wants as well as their needs.
A business that sells food or gas might not feel the pinch during a recession, but an insurance agent may find that business is down because people will put theses types of needs on the backburner until the economy improves again.Slump marketing allows you to reach out and assume a peer-to-peer role with your consumers. You’ll be in touch with your customers who are seeking you out on the web – so that your marketing expenses stay down and your ROI (return on investment) soars.Some of these methods include using social networking, search engine optimization, and email marketing. If you’ve never heard of or used these techniques to promote your business, don’t worry – they’re easy to master and free or affordable to everyone.
Why Should You Use Slump Marketing?
When a recession hits, your first instinct might be to hoard your last dollars and ride out the economic crunch based on current customer levels. But you’ll quickly find that staying afloat or thriving requires you to do more because your sales will drop off.
Slump marketing allows you to plant seeds of success all over the World Wide Web, which works whether you have global products and services to promote or you’re a local entity that only caters to one geographic location.Instead of you having to go out and hustle to keep your customer base or create a new one, your prospects who do have money to spend and are looking for what you have to offer will be contacting you.The concept of Slump Marketing is so powerful that if you haven’t utilized these methods in the past, you may even be glad the recession hit because it gave you the push you needed to learn how to leverage the tools available within the online marketplace.And your efforts won’t go to waste. When the economy recovers and business is good again, you’ll have all of those seeds your planted continue working for you, exploding your income like never before.SlumpMarketingTips blog from online stratgist John Lawlor
- Slump Marketing Tips from Jay Berkowitz
Free Tools You Can Use to Prepare For A Recession And Maximize Your Website Traffic Through Tough Times - 14 months ago
- Is Twitter a Good Channel for Slump Marketing?
Can Twitter be an effective marketing channel? This Marketing Sherpa article/case study shows how JetBlue and Carnival Cruise Lines have been successfully using Twitter. - 14 months ago
- Seth Godin on Recession Marketing Mindsets
Marketing strategist, author and speaker Seth Godin blog entry titled: Marketing in a recession makes an interesting point about consumer's perceptions of recession economics... - 14 months ago
- Web Video SEO Tips: Read This Article If You Produce Web Video
Article that shows how to optimize web video -- a slump marketing tip - 14 months ago
- 1st Radio Show [Slump Marketing Success] Show Notes Posted
The Show Notes for - John Lawlor's BlogTalkRadio show -- SLUMP MARKETING SUCCESS: Overcoming Your Marketing Comfort Zone (show #1) have been posted - 14 months ago
- article: Successful Strategies in a Down Market
"The businesses who are make it through a downturn are those that plan ahead and turn up the volume of their marketing activities." quote from MerchantCircle Journal April 2008 newsletter. - 14 months ago
- Looking for a clever slump marketing tagline
What do you think? 1) "When you come to a slump in the road -- keep moving." 2) "When you come to a slump in the road -- keep looking up." 3) "When you come to a slump in the road -- slump on through." - 14 months ago
- Seth Godin has posted a great tip — is this a useful slump marketing tactic?
Seth Godin has posted a useful tip — could it be a slump marketing tip? What do you think? Seth Godin’s blog with cartoon and tip “Skip at least one meeting every day for the next two weeks. Watch what happens.” Seth Godin May 1, 2008 My slump marketing tip based on Seth’s post – turn one physical meeting [...] - 14 months ago
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Roger C. Parker says:
14 months ago
I am glad that I just discovered this site, John. You have an excellent grasp of what really matters, combined with a clear and concise writing style. I look forward to your continued involvement with this site and the ideas you will share with your followers.
Roger