Marketing During a Recession; Tips and Tricks

Marketing in the current challenging circumstances

Marketing in the current challenging circumstances, much like navigating uncharted waters, poses unique difficulties. As the renowned Teddy Roosevelt once emphasized, “Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty.” This sentiment holds true even when the topic is not related to the ongoing global challenges. So, how do you go about marketing during a recession?

In any period, cultivating positive PR is advantageous. Yet, considering the prevalent uncertainties and hardships faced by people on various fronts, the question arises: should your B2B public relations, marketing, and sales strategies persist, shift, or even halt?

Initially, all corporate communications should acknowledge the widespread physical, emotional, and economic struggles. Emails, which might have been geared toward a more sales-centric approach a few months ago, should ideally have undergone a transformation by now. They should convey a more supportive and selfless tone, reflecting an understanding of the current difficulties. If not, it’s never too late to make this adjustment.

However, as the impact of the current situation begins to wane, and we collectively contemplate the aftermath, it becomes imperative to plan for the future steps. While predicting when this transition will occur remains uncertain, it is crucial to start considering the forthcoming phases.

Addressing Sales in the Current Environment

From a sales perspective, questions arise: is it appropriate to be making cold calls and sending out emails? Is it acceptable to follow up with prospects in the pipeline?

In this scenario, it’s essential to remember that we are all in this together, facing the repercussions of the situation. While no one is immune, certain industries are undeniably more affected than others. Consequently, addressing these challenges directly becomes key. Let your prospects know that you recognize the difficulties everyone is going through. Be empathetic, acknowledge the elephant in the room, and understand that a return to normalcy is coming.

Your messaging should prioritize assistance over pushing a product or service for immediate sales. Let your audience know that when the time is right, you’re there to support them.

The Necessity for Leads

This is where advertising and B2B PR can play a significant role in marketing. Even before the current situation, trade publications were ideal platforms for B2B operations. Recent data indicates that the readership of industry publications has potentially increased, as decision-makers seek insights into how their industries are adapting.

The editors of these publications emphasize the need for content that addresses the specific concerns and impacts their audiences and industries are experiencing.

Adapting to the Changing Landscape

It is crucial for businesses to adapt in order to thrive during these uncertain times. Recent research from IEEE GlobalSpec suggests that over 60% of marketing leaders are considering postponing, cutting, or canceling their upcoming marketing expenditures. However, historical data indicates that cutting marketing during economic downturns is a significant mistake. This presents an opportune moment to reassess the Business Process Outsourcing Model (BPO model) and connect with prospects through trade publications, either through advertising or by generating feature articles.

In conclusion, while the challenges we face today may be unprecedented, strategic adaptations and a focus on meaningful communication can contribute to sustained success. If you’re interested in learning more about our content marketing services, we’d be happy to provide further information.