For those that haven’t yet seen the news, the Bank of England has predicted that the UK is falling into a recession that set to last five business quarters, after interest rates spiked to 1.75%.
At times like this, while it’s important to be mindful of your budgets and spending, investing in your Marketing is essential for survival.
In past recessions, a lot of businesses have lowered their marketing budgets and pulled back on their marketing activities to save costs, and a lot of those businesses failed to come out the other side.
So what do you need to do to ensure your survival?
Don't Just Batten Down the Hatches!
With consumers less likely to make purchases, you need to ensure that you’re doing everything you can to generate interest in your business and offerings, and make the most of every lead and opportunity.
Now isn’t the time batten down the hatches and trim your marketing budget, now is the time to push your business as much as you can and focus on generating more customers, instead of cutting off your pipeline.
This is even more important for small business, because although you might face many of the same risks and challenges as larger organisations, your lack of scale makes you more vulnerable and will lower your chances of survival in a recession.
With past recessions and even the pandemic, the business that survived did so by being proactive and driving business development to the forefront of their plans.
How Can River Help?
If you’re looking to get ahead of the curve take a proactive approach to generating new business and building a strong pipeline of opportunities, we can help.
Throughout the pandemic, River helped dozens of business not just stay afloat, but thrive and grow despite the immense challenges they faced.
If you’re interested in having a chat about your requirements, give us a call on 01329 275100 or fill out our contact form to get a call back from our Director, Kevin.
You can also take a look around this site to learn more about our telemarketing services and how we’ve delivered incredible results to clients, even during times of national financial hardship.