Recession Marketing Strategies | No-cost/Low-cost Niche Marketing

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Recession Marketing Strategies

Australia managed to escape the recession in 2008, In 2009 however, things could be different. According to The Australian, 19 December 2008, 53% of business owners believe Australia will experience a recession in the next two years. When everyone is talking about "recession", the market landscape changes. Consumers begin to tighten up their budget and become value conscious. Employees become worried about their jobs. Business becomes concerned about working capital, costs, and sales. It is certainly time to throw out the current business plan and start again in view of changing economic and market conditions.

Industry Impact
Competition
Customers
Financial Resources
Marketing Strengths and Weaknesses
Responsibility

A business would essentially have to decide, in view of a recessionary downturn, given due considerations to the above and the company's objectives, will the business primarily adopt an offensive stance to exploit opportunities and take advantage of competitors' vulnerability, or will it take a defensive stance in order to survive?

No matter what stance a business takes, it is essential to develop an effective and efficient marketing strategy. One which is cost effective and falls within what is termed as Low-Cost/No-cost marketing. To put it in a nutshell outdated marketing methods such as TV advertising, radio, print media, cold calling and mass email are no longer efficient and cost effective. The reason they do not work so well is that over time people have built a resistance to them, and they are intrusive. Marketing strategies that are not intrusive but permission based are extremely effective ( inbound marketing ) and could form the bulk of your online marketing strategy. What marketing strategies are you using in these recessionary times?

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