Four Steps Marketers Can Take to Drive Growth During a Recession

Four Steps Marketers Can Take to Drive Growth During a Recession

Marketing Strategy — Tue., Sep. 20, 2022

A recession is looming, and many marketers may reach for a familiar playbook: cutting advertising budgets and laying off marketing staff. However, increasing advertising spend or launching a new product during a recession can boost margins and drive revenue, allowing a firm to increase its profile as competitors decrease communication. Data suggests that decreases in advertising during a recession are not associated with any increase in profits, and organizations should be shrewd about which products they back during a recession.

Marketing leaders who want to boost spend during a recession can use data to make the case for boosting spend. Budgets are always tight in marketing, so be precise in communication with customers, embrace a mix of brand storytelling and performance channels, and capitalize on cheaper costs and a less crowded environment. Organic tactics such as SEO and content marketing make strong recession investments, as they take 12-18 months to build audiences and drive returns.

Show up for your customers. When the time is right, they will show up for you. Make data-driven decisions and play the long game to come out of the recession strong. Understand your audiences and meet them where they are, and use the recession as an opportunity to test channels in high demand.

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