Don’t stop Marketing in a recession — Linda Fanaras // Millennium Agency
Linda Fanaras
Millennium Agency
- Part 1 Don’t stop Marketing in a recession — Linda Fanaras // Millennium Agency
- Part 2Brand Positioning in an Economic Downturn — Linda Fanaras // Millennium Agency
Show Notes
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02:30Cutting marketing spend during an economic downturnIts best to continue with marketing efforts even when theres an economic downturn. Stopping your marketing during this time can negatively impact sales and give your competitors who are still marketing an edge.
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04:59What executives should be doing in the event of an economic downturnAssess your marketing expenditures to figure out which ones are yielding the highest results. Then, determine how to leverage those that are producing results and eliminate the methods that are not.
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06:54Figuring out how to change your marketing mixCompanies need to determine if they want to build the brand or generate leads and the best ways and mediums to drive those campaigns. They should also be setting aside a marketing budget for these rainy days during economically sound times.
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09:01How to pick up on more market share during an economic downturnTake advantage of marketing activities that other companies are not doing. Also, consider and leverage mediums that enable you to maintain a strong presence in the market while staying on budget.
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11:31Price fluctuations across media types during an economic downturnPrices are likely to come down as marketing spend on these media types decreases. So, its an ideal time to take advantage of the opportunities that are available.
Quotes
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"If you're quiet and your competitors are marketing well, they will be standing out and they will be on the forefront of your consumer's mind." -Linda Fanaras, CEO, Millennium Agency
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"If you cut back on your marketing spend, over time you will see that those long-term effects negatively impact your overall company sales." -Linda Fanaras, CEO, Millennium Agency
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"Start trimming down what you're doing so that it will still work within a smaller budget. Do not cut all of your marketing budgets in full. It creates a very negative effect on your business." -Linda Fanaras, CEO, Millennium Agency
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"If everybody's been doing great things over the past four or five years, aside from COVID, and saving for a rainy day, there should be some profits tucked away to get you through these times." -Linda Fanaras, CEO, Millennium Agency
- Part 1 Don’t stop Marketing in a recession — Linda Fanaras // Millennium Agency
- Part 2Brand Positioning in an Economic Downturn — Linda Fanaras // Millennium Agency
Up Next:
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Part 1Don’t stop Marketing in a recession — Linda Fanaras // Millennium Agency
Linda Fanaras, CEO and Strategist at Millennium Agency, talks about tactics and strategies that brands can turn to during an economic downturn. When the market is down and there is economic instability, many companies will drastically reduce or eliminate their marketing efforts. Though these activities could be helpful for short-term profit, they’re bound to affect the brand’s sales in the long run negatively. Today, Linda discusses why you shouldn't stop marketing during a recession.
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Part 2Brand Positioning in an Economic Downturn — Linda Fanaras // Millennium Agency
Linda Fanaras, CEO and Strategist at Millennium Agency, talks about tactics and strategies that brands can turn to during an economic downturn. Companies thinking about the future understand that they should set aside a marketing budget for times when the economy isn’t the most favorable. And, those companies are the ones who will have the resources to take advantage of difficult situations and remain consistent in their branding and marketing efforts. Today, Linda discusses brand positioning in an economic downturn.
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