Double Down on Your Marketing Our natural instinct in tough times is to begin cutting spending on things like our marketing efforts. However, in reality, we should continue doing the same as before, even if that goes against your gut instincts! In fact, marketing guru Neil Patel says he learned from going through two crashes (the dotcom crash in 2000 and the real estate crash in 2008) that the best time to start doubling down on your services is when others aren’t. Why? Because there’s less competition around. This makes it easier and faster for you to get results. Plus, some services like pay per click advertising will come at a reduced cost. Even better!
As billionaire investor Warren Buffett whatsapp database put it – “Don’t be fearful when others are greedy. Be greedy when others are fearful.” I can’t say it better than that! 10. Be Resourceful In times of great change, we need to get creative and be more resourceful in order to recession-proof our businesses. And there are a number of ways you can do that. As I mentioned before, there are some incredible FREE online events happening right now which you can join. One example of this is The Turnaround Summit. This event offers crisis-management advice to help people deal with uncertain times in their businesses in light of a potential recession.
You can also reach out to past clients to offer your services. Maybe you went on a discovery call a year ago and they weren’t ready to utilize your services then. But now they may be trying to figure out ways to streamline their business and implement systems. 11. Over-Communicate Finally, make sure to communicate clearly and consistently with your customers. Don’t assume that your customers know what’s going on. In these uncertain times, everything is in question and even your most loyal customers may be uncertain about what to expect from your business.