From the Desk of an Online Marketing Professional June 22nd, 2009
Here’s an unbusinesslike question for you… How do you feel? Now, here’s another…
How do you feel about the word “Recession”?
I bet that triggered a different response!
For most business people it’s a word which causes real anxiety. (It seems to panic the hell out of most online marketing professionals) But it’s also word that’s great news for our media who love to report the drama. The more reports you hear, the more reinforced the idea of Recession becomes – it changes how you feel and eventually how you behave.
Now, I’m not saying to combat this we ignore what’s happening but I do believe we need to be cautious about we react to the media’s version of reality.
Deep down we know that every action we take in both our private and business lives is heavily influenced by our feelings. Often our best decisions are made at the height of our confidence. But when all we hear are dire economic forecasts (and the “R” word) everyone’s confidence suffers. The effect is that, without even being conscious of it, our thinking starts to shift: we spend less, drop development projects, slash budgets all because we’re fearful of the future – real or imagined.
As an online marketing professional I can promise you that the first budget out of the window is Marketing – it’s an easy target and an immediate saving. So, I hear of companies slashing their Google Adwords spend, stalling Search Engine Optimisation projects, taking longer over buying decisions and killing their website investment.
Gradually their mindset moves to believing there are fewer and fewer opportunities and cutting back on their marketing quickly makes that a reality (and the short route to business suicide).
So, how can you shield yourself from this and recession-proof your businesses at the same time?
Simply, it begins with your thinking.
Your ability to make money has not changed because your colleagues, friends, family and the media might tell you so. The fact that your competitors will get sucked into this mindset is to your total advantage. As they cut back on their online marketing they make room for you to capture the ground they have retreated from. As they withdraw from the field so your position becomes stronger.
In a perverse way the fear of an economic slide actually creates opportunities for entrepreneurs like you and online marketing professionals like me.
So, here’s my advice – hold steady. Now is the perfect time to act on your marketing ideas and lay the foundations to massively grow your business.
If you’re interesting in hearing more on this subject from the UK’s top Online Marketing Professional read his Recession Proof Your Business article.
December 21st, 2009 at 1:25 am
great tips. maybe i have done half or 3/4 of this