Recession-Proof Marketing

With all this talk of an economic downturn and the House's recent approval of a questionable Economic Stimulus Package, now seems as good a time as any to offer a few suggestions for marketing in a downturn:

• Lay the groundwork early. Don't wait until the belt is already too tight to breathe; strengthening your marketing efforts now will help minimize any damage should a full-blown recession kick in.
  
  
• Resist the urge to stop marketing altogether. Many businesses immediately suspend their marketing budgets, but this just reduces your chances of bringing in all-important revenues.
  
  
• Look to current customers. We all know it's cheaper to sell to current customers than to secure new ones, and this is especially important to remember when you're pacing your marketing spending. Ask yourself what your current customers need during this time (or better yet, ask them!), and find a way to deliver it.
  
  
• Make well-reasoned cost cuts. Instead of sending out a massive direct mail campaign, why not shrink your mailing list to include only the most qualified leads? This will increase your success while decreasing your expense.
  
  
• Move online for savings. Email campaigns, and online networking are effective and inexpensive ways to market when budgets are tight.
  
  
• Leave your competitors in the dust. Take advantage of others' quickness to cut their marketing budgets and run a pointed campaign or two to keep your company front of mind.
  
  
• Look to alternative markets. Chances are, you've been overlooking a market segment that might prove valuable to your business. Now's the time to reach out to these new markets to bolster your bottom line.
  
  
• Work on you. No, not in the self-help, wish-your-way-to-success way! If your market is slowing, though, take a good hard look at how you're doing business, how you're communicating with your customers, and identifying how you can do better. Strengthening your business from the inside-out will make it much easier to pull your business out of the recession rut.
  

So what do you think? Do you have any other tips or suggestions for overcoming that self-destructive inclination to stop marketing when times seem tight? Leave your comments below!