These are frightening times for any company and business-to-business marketing is inevitably at the sharp end of the recession. Marketing budgets are facing severe cuts and some companies have ceased spending altogether whilst others have slashed adspend and are concentrating more on online, database and direct marketing. At Forepoint we understand the need and desire of our clients to get more from their websites and marketing collateral – it all needs to work harder to achieve business goals.
It is understandable that the first thing to be cut is the marketing budget. This, however, can often cause more harm to the growth of a business in the long term. Research has shown that companies that cut adspend during a recession typically see their sales and income fall by 20-30% over the following two years as a result. Through careful planning and an astute use of budget we can help clients maintain a presence in the marketplace in even the most trying of economic conditions.
Now is not the time to cut the marketing spend but one in which to re-evaluate your marketing, analyse what is working and what is not and to explore new options, making the most of the budget you have. Studies have shown that companies that continue to market during tough economic times see greater growth during those times. Here’s how we can help:
- Spend smarter – we can find more cost-effective ways of communicating your message
- We can help you to look after the clients you already have – when customers make decisions in a downturn, they are more likely to go with a trusted source
- Outsmart your competitors – we pay close attention to what’s happening in your target markets so as to make best use of opportunities as they arise.
Marketing during a recession is essential, it allows you to retain or grow your market share, it is vital to maintaining visibility, recognition, familiarity and trust. When competition is at its fiercest then is the time to stand tall, be seen and fight your corner, not bury your proverbial head in the sand.