Downturn Marketing: What to Do
Navigating a business through challenging economic periods demands a different approach to marketing and sales. Based on years of experience helping businesses through challenging periods, here are practical steps to keep your business steady and ready for better times.
What You Can Do
1. Acknowledge it is happening
When the economy slows, people spend less, and competition gets tougher. It’s important to face this reality and take action instead of waiting for things to improve on their own—they won’t, at least not quickly. As the saying goes, “Doing the same thing over and over again and expecting different results” just doesn’t work.
2. Think small, not big
The biggest challenge in tough times is keeping money flowing into your business. Instead of trying to chase new customers, focus on the ones you already have or those you’ve worked with before. These people already trust you and are more likely to do business with you again—if you remind them. Personal outreach, like emails or phone calls, can make a big difference. The goal right now is to keep things running and build a stronger connection with your current customers.
3. Increase visibility
It’s easy to pull back on marketing when times are tough, but this is when people need to see you more, not less. Post on social media, send newsletters, or keep running ads if you can afford it. These activities may not immediately boost sales, but they remind people of your business so they’ll think of you when they’re ready to spend.
4. Ask for Help
Trying to solve problems alone can feel overwhelming, especially during stressful times. Don’t hesitate to reach out to family, friends, or even professional advisors for guidance. You’d be surprised how many people are willing to help if you just ask. Remember, asking for help isn’t a sign of weakness—it’s a smart move.
5. Don’t become isolated
Watching your business struggle can be isolating, but you’re not alone. Talk to other business owners who are in the same boat. Sharing experiences and ideas can give you fresh energy and helpful solutions. Consider forming a small support group with a few local businesses—you’ll find it’s a relief to share the load.
6. Be lean and agile
Now is the time to review your expenses and see where you can save money. Ask your suppliers for better prices, cut out unnecessary steps in your processes, and look for ways to do things more efficiently. Regularly check your costs to make sure you’re staying lean and flexible.
7. Don’t Compete on Price
It’s tempting to lower your prices when customers are scarce, but this can hurt your business in the long run. Instead, focus on showing the value of what you offer. If you do give a discount, make it a rare exception and do it discreetly.
8. Do more for the same
You’ll probably need to put in more effort to achieve the same results during a downturn. This can feel discouraging, but remember, this is only temporary. Celebrate every small win and remind yourself that better times will come.
9. Act in the now but don’t forget the future
The goal isn’t just to survive—it’s to be ready to thrive when things improve. Economic downturns don’t last forever. When people start spending again, and when some competitors inevitably fall away, your business will be in a great position to succeed. Stay hopeful, because brighter days are ahead.
10. Chase Payments Quickly
This isn’t about marketing, but it’s critical to mention: don’t let payments pile up. Follow up on invoices promptly to keep cash coming in. It’s easier to think clearly about your next steps when you’re not worrying about money.
Key Reminders
- Face reality—denial won’t help.
- Focus on current and past customers—they already know you.
- Stay visible—make sure people don’t forget about you.
- Ask for help—it’s smart, not weak.
- Connect with other businesses—sharing can be encouraging.
- Cut costs and stay flexible—efficiency matters.
- Avoid slashing prices—it can do more harm than good.
- Work hard, but keep your eyes on the future.
- Collect payments quickly—cash flow is key.
Next Steps
Even if your business is doing fine right now, these steps can strengthen it further. If you’re struggling, they’re essential for getting through tough times and coming out stronger.
Need some extra guidance? Reach out to Business Think via info@businessthink.co.uk.
Photo Credits in this article (sourced from Pexels):
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Andrea Piacquadio
Keenan Constance
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