Gov. Beshear’s Latest Directive & Marketing During an Economic Downturn
I know you are all busy, so I’ll make this brief. Two things for your consideration:
- I’ve posted a copy of Gov Beshear’s latest Executive Order, which lists what kinds of businesses can and cannot stay open. You can read it here…. I hope it’s helpful.
- Several years ago I read an article from the University of Chicago’s School of Management that documented how Kellogg’s Cereal overtook Post Cereal as the market leader in breakfast cereals. In summary, the article explained that during the Great Depression, Post cut back on its marketing efforts while Kellogg’s maintained and even increased its marketing. This focus on continued marketing during the Depression is what made Kellogg’s a household name.
I share this not to sell you on marketing, but to remind you that it’s important to keep your name out there, especially during an economic downturn. Our first reaction is often to cut back to save, but in reality it may make sense to maintain or expand marketing while your competitors are scaling back. There are a number of free and cost-effective ways to keep your name “out there. These include making good use of your free Google MyBusiness listing and of social media. You might also consider an email marketing campaign. Each of these is very economical and relatively simple.
I would be glad to discuss these and other strategies with you. Feel free to give me a call or send me an email at email@example.com.
Take care and be well!