Recession is a scary word for any business owner. However, recessions are just part of being in a cyclical capitalist economy. As inbound marketing specialists, we delved into recession proof businesses and the ways you can prepare for any economic downturn. The best advice from 2022 is highlighted below.
Recession Proof Businesses 2022: Why HubSpot Is the Way of the Future
The recession in 2008 caused 7 million Americans to lose their homes and over 200,000 small businesses were forced to close. The effects of the recession were so widespread that one decade later, we are still searching for ways to recession-proof our businesses.
Often, in times of downturn or slower seasons in a business, the first thing to be scrapped is marketing. Although people do spend less in a recession, leads need to be targeted with more efficiency. One of the best ways to wisely invest your money is to form a partnership with an inbound marketing agency that uses HubSpot software. Why?
- Target leads effectively
- Find leads you didn’t know existed
- Save money on marketing while making the marketing process run smoother
- Track customers along their buyer’s journey
- Get 6 employees for the cost of 1
How To Make Your Business Recession Proof
How to Make Manufacturing Recession Proof
- Increase manufacturing by creating new products
- Transition into more recession-proof industries (healthcare, cosmetics, candy)
- Increase qualified leads to expand your customer base
How to Make Tourism Recession Proof
- Underpromise and overdeliver
- Don’t cut tourism marketing budgets
- Continue to build relationships with your existing client base
How to Make Economic Development Recession Proof
- Maintain economic development marketing budgets
- Keep communication lines open with existing customers (email, blog posts, CTA’s)
- Don’t undervalue the importance of networking
How to Make a Food and Beverage Company Recession Proof
- Do not cut the food and beverage marketing budget
- Innovate to keep ahead of the rest of the market
- Decrease expenses
How to Make an Association Recession Proof
- Keep the marketing budget constant
- Increase association membership before a recession hits
- Develop personas to create better content
- Employ an affordable inbound marketing agency
So, Are We Headed for a Recession in 2022?
No one can say for sure just yet, but as a business owner, it's crucial to be ready for anything. You have worked hard to build your business and you have to work just as hard to protect it. Sometimes in order to bring your company to the next level, you may need help with marketing. Consider outsourcing to relieve the pressure on your team. Want to learn more about recession-proofing? Check out this article.
References:
https://www.foxnews.com/politics/economy-lost-more-than-200000-small-businesses-in-recession-census-shows
