Desperate times call for caution

How to keep from falling into bad marketing habits during tough economic times

Photo by Mark Duffel on Unsplash

When you find yourself working in marketing during a tough economy, it can be tempting to fall into some traps. You have goals to hit and pressure to drive revenue, but the money isn’t there for everyone.

Let’s talk about what to avoid and then steps you can take to weather the storm and keep moving forward, delivering value for your organization as best you can until things improve.

What to avoid when marketing during tough times

Firstly, it’s important to avoid the temptation to cut marketing altogether. While it might seem like an easy solution to cut costs, it can end up doing more harm than good.

Cutting marketing budgets can lead to decreased brand awareness, lower customer retention rates, and ultimately, decreased revenue. If you cut back too much, you might regret it on the other side of the storm.

Another trap to avoid is the urge to compete solely on price. When times are tough, customers may be more price-sensitive, but that doesn’t mean you should lower your prices to unsustainable levels. Doing so can hurt your bottom line and even damage your brand’s reputation. You don’t want to become…