StockTradingToGo.com lists 17 recessions since the Great Depression. So it’s not the first time we’ve been here, the exciting thing is we can look back and learn some things from it.
One of the key themes in all of my research into it is that the Great Depression brought people together. It became one of the unique times in history where money actually brought people together instead of tearing them apart. So this blog is one of the places we can start to do just that.
This recession is a huge opportunity for companies that can afford to prudently invest in their branding/marketing communications. Brian Meckler states in his article “Marketing In A Recession” that “a study of business-to-business companies during the 1981 recession states that businesses that increased their advertising expenditures during that time saw an increase in sales of over 200% compared to those that cut. This is most likely due to their competition deciding to decrease their advertising budget. Now is the time when customers want to hear from you and learn how you can make their lives better.”
Like I said business is about people relationships and the long term, all of those relationships can start with a handshake and taking the time to listen. I always try to take the time to make introductions and meet with new people. There are so many great true stores of the amazing connections, ideas and plans that came about just by taking the time to say hi.