Marketing in a Recession: Why Cutting Your Budget Can Cost You Market Share

Send us Fan MailWhen a recession arrives, marketing is frequently one of the first expenses a business cuts.Peter Boolkah argues that this can be a costly mistake.A contracting economy already gives businesses a smaller marketplace in which to compete. If the company also reduces its visibility and loses customers, its share of that smaller market can shrink even further.Originally recorded during the economic disruption of 2020, this solo episode explains why a downturn can create an opportunity for businesses prepared to remain visible while competitors retreat.You’ll discover:Why cutting marketing can signal that you are no longer open for businessHow a contracting market affects your available customer baseWhy losing visibility can compound the effects of a recessionWhat happens when competitors reduce their marketing activityWhy advertising can become more cost-effective during quieter periodsHow to gain a larger share of a smaller marketWhy acquiring customers during a downturn can support future growthHow excellent service turns new customers into loyal customersWhy the business still needs the structure to handle growth when recovery arrivesThe objective is not simply to spend more. It is to remain strategically visible, continue winning customers and prepare the business to benefit when contraction eventually gives way to expansion.CONNECT WITH PETER BOOLKAHWebsite: https://www.boolkah.comLinkedIn: https://www.linkedin.com/in/boolkahInstagram: https://www.instagram.com/pboolkah/Facebook: https://www.facebook.com/BoolkahX: https://twitter.com/boolkahABOUT PETER BOOLKAHPeter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.His approach is direct, practical and built around one simple question:Do you own the business, or does the business own you?Learn more at https://www.boolkah.com