“Let’s hold off for now.”
In an economy coping with high unemployment, low consumer confidence and a rollercoaster stock market, these words have become the mantra of many anxious marketers.
No question about it – caution is the natural self-preservation response in tough economic times. But playing the waiting game is increasingly a strategy that results in forfeiting untapped opportunities.
Think about it. As many companies continue to sit on the sidelines with a wait-and-see approach, you can jump into the void and gain visibility in a smaller field of active competitors. A sparser marketing landscape can give you a more uninterrupted path to your target audience, which can translate into a quick spike in sales.
It gets better. Along with the short-term bump, your willingness to market during a down economy can build your brand awareness in a way that inspires customers to form new buying habits and sustains your gain in market share even when the economy recovers.