Recession/Depression Marketing

marketing blogs

Believe it or not, economic hard times are here. Call it a recession, a downturn, a depression, or an economic slowdown. The results are the same...slow or declining sales, decreased productivity, layoffs, and dwindling profits.

So how does marketing work in a recession bound economy? Is it realistic to expect $3-$5 in sales or profit for every dollar spent in advertising and marketing under these extreme circumstances. Is instant "gratification" from a marketing budget reasonable. Probably not.

In many instances, marketing dollars, sales people, pressure for results with fewer bodies are the first "victims" of the decline. Is this just habit or good sense? Sales and profit are usually easy to come by when times are booming...even management idiots can make money. However when the times are tough, events willow out the dumb and dumber, the negative and the nay-sayers. Lean times call for tough decisions, creative solutions, leadership, and determination.

It is still possibe to make a profit during lean times. Creative solutions, sound judgement , and leadership make the difference.

http://en.wikipedia.org/wiki/Recession

http://en.wikipedia.org/wiki/Great_Depression