During unsettling times like we’re currently facing, should you continue marketing your business? Or should you push pause, hunker down, and wait for the storm to pass? I remember back in 2008 posing a similar question during the recession. Research back then, and now, has uncovered an interesting answer to that question.
I’M DYING TO KNOW THE ANSWER
Back in 2008, I found an eBook online called The Cricket Theory. This book argues that businesses should make as much noise as possible during hard times so that they will be remembered when it’s light again. It’s an interesting concept, and one many business owners probably haven’t considered. Why in the world would businesses continue to spend money, time, and effort on marketing and advertising when there are so many unknowns? An excerpt from The Cricket Theory explains it best:
A key reason is that when the marketing and advertising “noise” goes down, the voice of those still talking sounds that much louder. When your competition (and others outside of your industry) have stopped advertising or have reduced their marketing efforts, it’s your opportunity to saturate the market with your message. When your message is one of the few reaching the audience, your odds are much better for a greater return on your marketing and advertising dollar. When the upturn does come around – and it will – and your prospects and customers are looking to increase spending, your company (or your brand) will likely be the first one that comes to mind because you’re the one that has been most visible all along.
SO HOW DO I MAKE SOME NOISE?
You want to stand out during this time of uncertainty? Here are a few things you can do:
Be present on social media. Continue to have a presence on your channels, interact with your audience, think of fun ways to engage them, and continue to educate them on your product or service.
Spend money on initiatives you normally wouldn’t have time for. Now might be a good time to finally rebrand if that’s something that has been on your radar. Or maybe you’ve been wanting to redesign your website. You might find yourself more able to tackle these sometimes daunting tasks if business is slower.
Offer discounts and other incentives, if applicable.
Re-engage your email list and start sending out communication on a consistent basis.
Hire a marketing or advertising agency to help you create a strategy for growth so you’ll be prepared when the world returns to business as usual (which will happen!).
“Recession? I thought about it, and decided not to take part.” - Sam Walton
Just because the world has changed the way it operates during times of uncertainty doesn’t mean your business should go silent. Take this opportunity to get ahead of the completion, and reach out to Sassafras for guidance on doing so.