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Marketing During The Recession
Marketing During The Recession
The UK is facing a very difficult recession currently with no signs of a recovery soon. The BBC reported that retail sales have suffered the worst fall in record (quoted from the BRC (British Retail Consortium) based on UK sales in March 2011).
This being the case, how do companies approach their marketing with regards to remaining busy?
Many businesses are actually stopping their marketing altogether (which will bring instant cost savings); however this will have knock on effects to continued growth.
It is suggested that during difficult times, that the marketing machine is put into overdrive. The reason is that you need to be shouting louder in order to get more business.
So the question is:
How do you market during a recession?
The answer is to market smarter not harder.
Look at where costs can be cut and reduced. Rather than getting rid of marketing, how about looking around at alternative agencies to see where savings can be made.
An example would be the Norfolk Police force website whereby they paid well over the odds for their website to be designed. They paid roughly 250,000 when 10 seperate website designers submitted quotes for less than 100,000.
Cost savings can be found through comparing quotes; there are tens of thousands of marketing companies around the UK and simply by doing a few quick comparisons, it is likely that cost savings will be found.
Compare Prices
Why compare marketing companies - well price comparison is very popular these days with comparison sites for most things (insurance, food, clothes, DVD's)
Look at smarter forms of Marketing
There are a wide range of marketing services available; sometimes looking at alternative ways of marketing may well cut costs but also improve the effectiveness of the marketing.
PR Activity
PR is a very cost effective and powerful form of marketing than many businesses have not taken on. By talking to a few PR agencies you can quickly get an idea of the options available (both on-line and off-line). PR can go for as little as 500 a month for which PR companies can get very good coverage.
Web Activity
The web is free - so getting your website up on search engines to get more visitors is a great thing to do during a recession time. By getting some SEO advice from a few specialists you can look at getting your website more fruitful
This period is a tough time for many companies and a testing time to weed out the stronger companies from the weaker ones. The worst thing that can be done would be to stop marketing (although there is the temptation in order to see quick cost savings) as this will cut off future opportunities. a Call To Action: From Personal Responsibility To Global Empowerment Dr. Mansukh Patel, Savit What Christian Women Need To Know About Dating Try These 7 Beauty Tips For Glowing Skin Tenants Home Insurance - A Number Of Tips And Hints For Obtaining It What Are Some Natural Treatments For Autism? Start Making Your Own Costume Designer Jewelry The Rewards You Can Get From Purchasing Fashion Wholesale Organizing Your Own Christmas Events Can Review Sites Make You Money Online? An Important Significance of SEO Hosting Web Design? Accounting Outsourcing - What You Need To Know Before Proceeding Why An Electrician Is Qualified For The Job Using A Wholesale Drop Ship Is Imperative To Home Business Success