In episode #2336, Neil and Eric discuss whether or not you should raise your prices during a recession. A decline in digital ad spend and overall investment in digital has been reported lately, and use the last real global recession as a point of reference. You’ll also hear an example of a recession-proof strategy along with our predictions for the changing financial climate. Tune in today to hear all this and more!
TIME-STAMPED SHOW NOTES:
- [00:20] Today’s topic: whether you should raise your prices during a recession.
- [00:30] The consensus among economists today regarding the possibility of an upcoming recession.
- [01:06] The decline in digital ad spend and digital overall.
- [01:28] The last real recession we had in 2008.
- [01:58] Why you shouldn’t increase your prices during this time unless you have to.
- [02:10] Why you should try to keep your pricing consistent or reduce it if you can afford to.
- [02:17] An example of how focusing on pay for performance is effective in a recession.
- [03:36] An invitation to join us in Miami for Leveling Up Founders.
- [03:52] That’s it for today! Don’t forget to rate, review and subscribe!
- [03:59] Go to https://marketingschool.io/live to learn more!
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