During an economic slowdown, it’s common to look for ways to trim expenses until revenues pick up again. Often the first areas to be cut are marketing and PR.
But this is a misguided “solution,” because it’s during the rough times that communicating with prospects, customers, investors and employees becomes especially critical. Here’s why:
- A well-planned, smartly executed PR program will help drive sales.
- A solid communications effort will make your company look strong and reliable.
- Positive and consistent exposure for your company and products will assure customers that they made a good choice. This results in bolstered customer loyalty and referrals (an extremely cost-effective way to market!).
- Uncertainty breeds discontent among employees. To protect this asset, make an effort to communicate regularly with employees about your business.
Up next…how to get the most for your marketing communications investment.