How to Increase Market Share in a Recession

How do you get more customers in a recession?  Stop listening to negative people for one thing.  Create the right perception for your customers.  Don’t forget to market vigorously.  And when everybody else is looking down at their shoes, step up big and advertise!

If you listen to mainstream media you will be brainwashed into believing that the end of the world is occurring.  Sure, the global economy is not doing well, but that doesn’t mean that people aren’t growing their businesses. The tendency in the last 28 recessions since the mid 1800′s is for most businesses to cut back on marketing and advertising.  This is really contrary to what you should do as it has been proven if you increase your marketing in a recession you tend to gain the dominate position in your market.

The problem with these economic downturns is that people generally become more guarded.  Consumers or followers in most markets need a confidence boost and they need to feel the value.  No value or no confidence = no sale!

So instead of crying about the economy or complaining, you need to look at it as the perfect opportunity to increase market share.  Think about it, while your competitors are freaking out in panic, planning out their big retreat; you can be picking up new followers.  Sure, I’m of the personal believe that the U.S. economy has some serious issues that may change the landscape in the future, but I also believe that there is a certain segment of smart marketers worldwide that stand to prosper.

In today’s global economy you shouldn’t be overly concerned about what’s happening in your regional market place, especially if you are marketing a product or service globally.  Instead you simply need to build the confidence and the value proposition of your product.  How do you build confidence?  Increase your exposure by focusing more of your resources on marketing.  So for 2010 and beyond, make this your year to ramp up your marketing efforts as you’ll be glad you did.

Now is the perfect opportunity to expand since many of the players have left the field.  So while everybody is slashing their ad budgets and laying off valuable talent; you can be accelerating your marketing efforts.  Who do you think the customers will go to?  The company that is not being seen or the underdog who is suddenly top of mind!  Buy low, sell high, now is the best time for smart marketers to be seen!

Happy Holidays!