How to Safeguard Your Marketing During an Economic Downturn | Ep. #1340

<p><span style="font-weight: 400;">In episode #1340, we share how you can safeguard your marketing during an economic downturn. A crisis like the COVID-19 can have an astronomical impact on the economy, but if you make smart decisions now, you can thrive in a recession while everyone else is having a hard time. Tune in to hear why this is not a time to invest in long-term strategies and why you should stockpile as much cash as possible. </span></p> <p> </p> <p><strong>TIME-STAMPED SHOW NOTES:</strong></p> <p> </p> <p><strong>[00:25]</strong> <span style="font-weight: 400;">Today’s topic: How to Safeguard Your Marketing During An Economic Downturn. <br /></span><strong>[00:31]</strong> <span style= "font-weight: 400;">The impact that COVID-19 is having on the global economy.<br /></span><strong>[01:01]</strong> <span style= "font-weight: 400;">Even if your company is not being affected, the stock market is. <br /></span><strong>[01:11]</strong> <span style="font-weight: 400;">Avoid investing in long-term strategies and focus on anything related to performance.<br /></span><strong>[01:48]</strong> <span style= "font-weight: 400;">During the previous recession, budgets shifted from TV ads to pay-per-click. <br /></span><strong>[02:12]</strong> <span style="font-weight: 400;">Be sure to diversify and go omnichannel and keep doing SEO and content marketing. <br /></span><strong>[02:33]</strong> <span style= "font-weight: 400;">A downturn is no time to test out new unproven channels.</span><strong>[02:50]</strong> <span style= "font-weight: 400;">You might have a bigger pool of talented employees and get them at lower costs. <br /></span><strong>[03:05]</strong> <span style= "font-weight: 400;">Mergers and acquisitions will go for better deals. <br /></span><strong>[03:39]</strong> <span style= "font-weight: 400;">Stockpile cash so that you can act quickly when the recession is over. <br /></span><strong>[04:28]</strong> <span style="font-weight: 400;">Have contingency plans in place and cut on nonessential expenses. <