A Down Economy is No Time to Stop Marketing

Within each downturn, there are always opportunities to capture new customers and market share and grow elements of your business. In research studies, 60‐80% of lost customers said they were “very satisfied” or “satisfied” just prior to defecting to a competitor. In a downturn, it’s more important than ever to say close to your customers and make every effort to learn and satisfy their unspoken needs.


Google
Coming out of dot‐com bust:

  • 2001: 281 full‐time employees, $86MM sales, $7MM profit
  • 2004: 3,000 full‐time employees, $3.2B sales, $399MM profit


Procter & Gamble

  • Philosophy to not reduce advertising budgets during recession
  • Has made market share/sales gains in every major recession


Chevrolet

  • During 1920s, Ford outsold Chevrolet 10 to 1
  • Chevrolet continued to expand its advertising budget
  • Took sales lead in 1931, during Great Depression


Companies Started During Recessions or Depressions

Companies started during recessions