Marketing when business is slow
May 12, 2020

Marketing when business is slow

The business world has slowed down for many right now. You might be tempted to slow your marketing plans, do nothing and wait it out. While it makes sense on an emotional level, it’s never a good marketing strategy. The last thing you should do is put a pause on your marketing plans. Businesses that continue their marketing efforts during times like these historically have continued to thrive and come back stronger. 

Slowing down your marketing efforts would be ignoring the fact that your competition is not doing the same. Even when business is slow, your marketing strategy is important — in fact, it’s more important than ever. When you ease up on marketing, it gives your competition an edge. They are facing the same economic challenges and are determined to increase business.

Successful businesses do not abandon their marketing strategies when business is slow; they adapt and capture all possible leads. Brands that increase their advertising efforts during a recession (or even just a slow month), when competitors are cutting back, have the potential to capture more market share.

Here are some tips on how to actively market during slow times: 

1. Review how your business has changed.

How has your customer’s purchasing behaviour changed? How can your marketing shift to address their needs? Can you make accessing your services more convenient? How can you expand the types of marketing you have done in the past to ensure you’re still able to connect with your customers? Don’t wait—take the time now to review how things have changed for your business. 

2. Understand your customer’s shifting values.

What’s more important to your customers now? What is less important? We think there will be a strong long term value shift towards family, health, safety and the great outdoors. How will these value shifts change what your customer is looking for? Will it change the product they are looking to buy? How will locations of interest be effected? How can your service reflect this value shift? 

3. Understand the importance of staying connected.

Don’t feel like you should not market your business or that you should stay quiet. Connect with old clients and your exiting customer base. There is someone out there who needs your services and wants to hear from you. Make sure to regularly follow up with old contacts and leads.

4. Improve your service.

The truth is that almost all businesses in your industry are offering a similar (if not exactly the same) service. Now is the time to give yourself the competitive edge that will help you stand out. Brainstorm how to improve the quality of what you offer and be able to clearly define what makes you different. Defining your brand when you can’t make a face-to-face first impression is crucial. 

5. Be Flexible.

Take that odd job that you would usually refer out or is too small for you. Think about how you can adjust your pricing to ensure you’re still getting a good amount of business. Let your customers know how they are winning by choosing you. 

6. Do not completely cut your marketing budget.

Marketing is an investment in your own business. Successful companies never abandon marketing, they make adjustments. There is absolutely no situation we can think of that calls for putting your efforts at zero!

7. Strategize.

Develop a plan for how you will continue to market your business during these times. In our current situation you need to be diligent yet flexible. Implement your plan but be prepared to adjust as needed and as more businesses and services open up.

Contact us today to discuss your marketing plan.