The Importance Of Marketing When Times Are Tough

As economic challenges loom, Katie Johnson, Marketing Manager at NZ Trucking Association, offers crucial insights for businesses navigating these turbulent times. When the economy takes a downturn, marketing budgets are often the first to be slashed. However, cutting back on marketing efforts may not be the best strategy for long-term success.

“Maintaining a strong marketing presence during tough economic times is essential,” says Johnson. “It's more important than ever to remind consumers that you are still around and that you remain a trusted brand. Companies that continue to invest in marketing during downturns can position themselves much stronger when the market recovers, emerging more resilient than their competitors.”

In uncertain times, consumers are more cost-conscious and seek value. Johnson emphasises the importance of communicating the value of products or services clearly. Highlighting how offerings can save customers money, time, or effort can be a powerful message, as many are looking for ways to reduce expenses.

Focusing on retaining and valuing existing customers is another key strategy. Repeat customers provide steady revenue and help stabilize cash flow. “They know you, they know your product or service, and they know how you operate. In times of uncertainty, people prefer to stick with what they know,” Johnson explains. Offering loyalty programs, discounts, or other incentives can demonstrate appreciation for existing customers and help retain their business.

While it's easy to become consumed by short-term thinking during tough times, Johnson advises keeping long-term marketing goals in mind. “Consider how your current marketing efforts can position your brand for future growth and success. Investing in your brand reputation through improved customer experiences and resonant content is crucial,” she notes.

Marketing during an economic downturn can project a stable image, fostering customer trust. Targeted marketing ensures that budgets are allocated to campaigns that speak directly to the audience, making the marketing spend more effective.

“At its core, marketing is about reaching the right people with the right message at the right time. By continuing a marketing strategy through tough times, you keep your brand at the forefront of customers' minds. It’s always beneficial to stay visible and competitive,” Johnson advises. “As B.C. Forbes said, ‘When times are good, you should advertise; when times are bad, you must advertise!’ A business, like an automobile, has to be driven to get results.”

The NZ Trucking Association offers Associate Supplier Membership and Partner opportunities for companies seeking to enhance brand visibility and grow their marketing potential. Aligning your business with the NZ Trucking Association can open up a large, targeted audience, extending beyond its members.

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