Due to the pandemic recently, a lot of small businesses are cutting back on their marketing and branding efforts. A lot of our competitors seem to be doing just that. But is this wise?
As a business owner myself, I understand why many entrepreneurs would want to cut down completely on marketing activities. Being conservative feels like the safe choice when there’s uncertainly about how long the crisis will last. But if you want to stay in business, you can’t stay idle for long.
My advise? When you see your competitors closing down or slowing down on their marketing, you need to double down. You may not see the biggest return right away, but in the long term, you will. During an economic downturn, you’ll find that you will have less competition, which means it is easier and faster to get results, and in some cases, you’ll be able to get great deals.