B2B Marketing During a Recession
“Should I invest in marketing during the recession?”
If you’re losing customers and you’ve no revenue, money in the bank, safety buffers, or savings, then your main goal is survival: cut costs as much as possible and reduce them team to stay alive during the recession.
So, when it’s over, you can start building again.
But if you have revenue, if you have a buffer or money in the bank, now is the best time to spend on Marketing and potentially even ramp up, for 2 reasons:
1. You get everything at a discount (because everyone is also going through a recession).
2. There is less competition as most companies are cutting down their marketing to reduce costs, so it’s easier to stand out.
The goal is to position yourself now to be able to capture the influx of revenue and customers that will come when the recession is over.
Because you stuck around, stayed top of mind with your prospects, and built authority & credibility, while your competitors didn’t have the budget to market themselves.