Other more far-sighted Finance Managers realise that if you reduce your Marketing, then you reduce your likelihood of keeping and gaining business.
Consider the big brands: you would think that global names like Coca Cola, Budweiser, Apple, Volvo and many others would require little marketing and yet in good times and bad, they are relentless.
Here in Bright Star Marketing we are adamant that most companies simply cannot afford to reduce their marketing and business development in a recession. If you don't fight for a slice of the reduced pie, then your competitors will; and after the recession they will have a company that is significantly stronger than yours.
They won't have lost their key personnel because they couldn't afford to keep them; they won't have lost their key customers because they didn't put resources into looking after them and they won't have lost their brand value because they neglected it.
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They will have increased their market share. They will have developed new markets. They will have developed new products or services and they will have developed new alliances.
They will also have strengthened their skills, their people, their systems, their brand, and most importantly their determination to succeed!
Yes indeed, they may have worked twice as hard, twice as long and earned half what they earned in good times - but they are far more likely to have jobs, a viable business and a strong brand when the recession is over.
There are other good reasons to increase your marketing during a recession. Firstly, those companies unfortunate enough to have one of those near-sighted Finance Managers, won’t be doing much marketing. This means that your marketing efforts will gain greater attention. You may also benefit from keener pricing due to reduced demand.
Set up in 2006 by Ann Sheehy, a professional and experienced marketeer, Bright Star Marketing provides out-of-house support to companies with limited Marketing & Business Development expertise in-house.
This service provides a cost-effective, flexible and professional solution to help companies fight for business even during tough times.
Serving customers from a wide variety business sectors Bright Star Marketing is active throughout Ireland, north and south.
If your Marketing could do with a shot in the arm, please contact Ann Sheehy directly on 00-353 86 3893547.
