Warren Buffet once said, “Be fearful when others are greedy and greedy when others are fearful”.
As coronavirus is causing fear across many businesses, one of the first things that will be cut is MARKETING.
But as Mr Buffet says, while others are fearful and slashing their marketing budgets, you MUST keep marketing, here’s why:
1) You always need Marketing to run your business. It’s what drives growth and maintains stability. No marketing = no sales. “Pulling back for the short term” will hurt you in the long term. If you stop now, when all of this is over, your pipeline will be dry. Many studies from the 2008 financial crisis demonstrated that companies that upped their marketing spend during that time came out of the downturn quicker and stronger than those that didn't.
2) Your competitors WILL pull back due to fear. It’s opportunities like this where you can scale. If you want opportunity to maximise market share, hold firm on your marketing budgets now, or even better, look at opportunities to grow your budget in the right areas.
3) More people than ever are spending time online to look out for updates. If ever there is a time to be present, it’s now.
In this session, Paul Furlong, creative director at Opus Media, will talk you through the 5 steps to help you perfect your messaging for these uncertain times and put your marketing budget where it will have the biggest imapct.
Book your place here.