Abstract
Economic downturns and uncertainty create a difficult environment for businesses. As consumers become more cautious, many businesses make the mistake of significantly reducing or even pausing marketing efforts in an attempt to cut costs. Marketing isn’t a luxury that needs to be curtailed during a downturn; it’s a strategic tool vital to position the business for future growth. However, maintaining visibility and a strong connection with customers is vital during these times. To weather the storm, firms need to adapt their marketing approach by focusing on value, leveraging empathy, enhancing digital strategies, building customer trust, and carefully tracking performance metrics.
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