As a glance at the news will confirm, these are very uncertain economic times. This means people are thinking a lot harder now, before they decide who they spend their money with. Money is a resource and when resources are low or we believe they are under threat, we use them very carefully.
Thankfully, when it comes to marketing and developing your business, we know what to do in times like these. Back in 2007, we saw 2 strategies widely used by small and medium sized business owners:
1.Some did nothing, hunkered down and hoped things would pick up, before they went broke. Hope is not a business strategy, and as we know, many sadly went out of business.
2.Others used the uncertainty as an opportunity to gain a disproportionate market share. They did this by developing a strategy that attracted those clients, who would have previously gone to the providers who were hunkering down and hoping...... more
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