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Marketing Misconceptions
in Tough Times!
5 Common Misconceptions
About Marketing in Tough Times
Post #2:
Tough times are looming on the horizon!
Are you prepared to tackle the challenges they present?
The very first step is to dispel these following 5 misconceptions ( MSC ) about marketing during tough times!
MSC #1 - "Global Problems Won't Affect MY Business!"
>>> If you think what's happening "over there" won't affect your business, think again! The economy is global and even your small local business can feel the effects of events on the other side of the world.
Examples: (1) During the Covid-19 pandemic, businesses in every
field experienced labor shortages and their attendant effects.
(2) Russia invading Ukraine has caused supply chain issues in all industries.
And, (3) as the climate catastrophes worsens, there will be energy
shortages and other disruptions.
MSC #2 - "I'll Cross That Bridge When I Get to It"
Are ocean levels rising in your neighborhood yet? You might think,
"My market hasn't felt the effects of the war or catastrophes yet,
so why worry about it?"
>>> A good reason to worry about it is that when things get tough,
it's already too late!
>>> Instead, you need to prepare ahead of time!
Now, while things may be going well, you should be making plans,
building relationships, and boosting your business so that you won't
get panicked when tough times really hit!
MSC #3 - "Think Your Mindset Doesn't Matter?"
>>> Not so!
Actually, one of the most important ways to prepare for tough
times is to adjust your mindset! But you might wonder, how is
meditation and deep breathing going to help when sales are in freefall?
Our "Mindset" is vital for getting through such challenging times.
We need to maintain a positive frame of mind so that we can face
these challenges. Every setback can be a valuable learning experience
if you approach it with positivity and an open mind.
MSC #4 - When Times Are Tough, Should We Sell Harder?
>>> Not so!
One of the biggest myths of marketing is that when times are tough,
you just need to get out there and beat the streets even harder.
But when things are hard, you usually have fewer resources to put
toward sales activities. Note: It's a fact that it's "outbound" sales
efforts that become just not very effective!
>>> What is effective is "inbound" marketing!
This means creating valuable "problem solving" content to
publish that will bring people into your sales funnel.
Build multiple streams of "inbound" marketing and you'll
find it much easier to keep marketing profitably
during a downturn.
MSC #5 - Buying Stops When Facing Financial Difficulties?
>>> It may seem intuitive that when finances get tight, people
stop spending money.
>>> However, this is only half the story!
They reality is that they do keep spending money on things
they need, but from businesses they Know, Like & Trust!
This means that if you focus on maintaining a memorable brand
that offers exceptional value, people will stick with you and keep
buying, perhaps buying even more!
Results! - Learn as much as you can about your market and find
unique ways to meet their needs, and you'll do well!
Don't Despair - Prepare!
Wars, disasters, fires, floods, and killer bees -
It may sound gloomy, but don't despair. There's no reason to
catastrophize. Put that energy into preparing and you can not
only survive, but thrive, even during tough times!
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