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Under Dog Marketing in a Down Economy
An Opportunity to Out Market Your Competition
Mark Willaman wrote a posting about marketing in a slow economy. You can check out the post on his company's blog, HRmarketer Blog. In it, he mentions investing in your company when times are tough, because things will eventually get better.
That's the whole idea of "buy low and sell high."
In an economic slowdown (dare we say the “R”-word) businesses usually look to the far future and in the meantime, hunker down and weather the storm. They fire all but a few of their accounts, eliminate in-house IT support, and especially look at marketing as a financial open wound. |
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HOWEVER, there is a real opportunity for outsourced marketing, IT and Accounting businesses in this economy. An outsourced services firm can offer an entire firm of expertise for the price of a single new employee.
In regards to marketing, specifically, as marketing budgets for large competitors shrink, the playing field is beginning to level. Imagine actually being able to out-spend and out-market your larger competition in a down market.
Some say now is the worst time to invest in marketing. JDM asserts it is the best. There is money in the marketplace, and few willing to invest in marketing to secure a larger piece of the pie when things pick back up.
For more information about increasing your investment in marketing when others are divesting, check out JDM's "Off-Peak Campaign Strategy." Can't think of marketing as an investment at all? Check out JDM's blog posting, "Return on Marketing Investment."
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