In episode #1340, we share how you can safeguard your marketing during an economic downturn. A crisis like the COVID-19 can have an astronomical impact on the economy, but if you make smart decisions now, you can thrive in a recession while everyone else is having a hard time. Tune in to hear why this is not a time to invest in long-term strategies and why you should stockpile as much cash as possible.
TIME-STAMPED SHOW NOTES:
[00:25] Today’s topic: How to Safeguard Your Marketing During An Economic Downturn.
[00:31] The impact that COVID-19 is having on the global economy.
[01:01] Even if your company is not being affected, the stock market is.
[01:11] Avoid investing in long-term strategies and focus on anything related to performance.
[01:48] During the previous recession, budgets shifted from TV ads to pay-per-click.
[02:12] Be sure to diversify and go omnichannel and keep doing SEO and content marketing.
[02:33] A downturn is no time to test out new unproven channels.[02:50] You might have a bigger pool of talented employees and get them at lower costs.
[03:05] Mergers and acquisitions will go for better deals.
[03:39] Stockpile cash so that you can act quickly when the recession is over.
[04:28] Have contingency plans in place and cut on nonessential expenses.
[05:27] When things are uncertain, there are opportunities for you to thrive.
[05:58] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information.
Links Mentioned in Today’s Episode:
Leave Some Feedback:
- What should we talk about next? Please let us know in the comments below
- Did you enjoy this episode? If so, please leave a short review.
Connect with Us:
Discover Latest Episodes
In episode #2189, Neil and Eric discuss some of the best-kept YouTube success secrets! We share what has worked for us, as well as the mistakes we have made and how you can avoid them. You’ll also l...
In episode #2188, we talk about our boneheaded YouTube mistake with Marketing School. Tuning in, you’ll find out how Libsyn helped us automate and grow our views, the mistake we made when we stopped...
In episode #2187, we discuss how Eric is using product-led growth for his NFT project. Tuning in, you’ll learn the definition of product-led growth and find out how you can implement it in the world...