The first word of advice is…don’t stop.
Innovate: if your research shows that the market wants a different solution…go and create it.
A quiet market is a good time to announce a new product or service when there is less “noise” coming from your competitors. It shows consumers that you understand their needs and you are an innovator – which is a strong brand building statement. Also, be innovative about your marketing.
Look at different ways of maintaining your awareness activity for a lesser spend. For example, the Internet provides low-cost opportunities such as responsive websites, e-newsletters, apps, social media, videos and webinars. Publishers find it harder in tough times to fill their advertising space which means you can pick up very competitive discounts.
2. Generate: as you continue to market and promote your product and service, indirectly you are generating interest and a top of the mind thinking that keeps your company at the forefront.
People are continually in preparation to purchase mode. They want information and they want to know why they should purchase your product or service over the others, so keep informing them and giving them reasons why. This will help you survive the tough times and put you in a good position in your market when the economy improves. Investing for tomorrow will always allow for the business channel to be full and looking healthy.