Ten More Things to Do in a Recession

Ten more ideas for recession-weary marketers.

1. Approach (or re-approach) companies or organizations with which you would like to form an alliance. You may find they’re more receptive than usual. Or maybe the laughter just hurts less.
2. Capitalize on the renewed energy and commitment of your team (yes, I know they’re only pretending to like their jobs) to build new project groups or test out new organization structures.
3. Start a betting pool on the exit packages for your top executives if the recession shows signs of continuing and/or your results suck.
4. Focus on your existing base. If you’re re-evaluating your suppliers, then your customers probably are too. Time for customer-only events, retention offers, content or lunch with a Corporate Overlord. Or even drinks with you.
5. Upgrade your stuff. Prices are lower and suppliers more desperate. It’s a great time to invest in a new trade show booth or, if the Productivity Prevention Department (aka IT) is willing, maybe get some new computers or invest in a printer that doesn’t double as a shredder.
6. Go on some sales calls. Sales people are at their best in tough times and you might actually learn something about how to sell rather than how to go out for drinks, which is what they are good at in happier times.
7. Go out for drinks. Take some people from adjacent departments, particularly departments where relationships could be a little better. You’ll probably have to pay for the drinks yourself (it’s a recession after all) but you may just spread good karmic things that will pay off when things get busy and you need your new friends.
8. Do some scenario plans. Marketers are horrible at these and that’s a pity because they can help us out of some pretty tight places. Basically you think of a series of likely scenarios and then, while you have time and sobriety on your side, you come up with a response plan you can tuck away in case your scenario comes true.
9. Update your resume. You never know.
10. Invest in some training. Even that gets cheaper in a recession and if things are slow your staff probably has the time to do a few courses and brush up their skills. Might also be a good way to hang on to some of your top performers in the face of evil, poaching competitors.

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Ten Things to Do in a Recession
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BizMarketer is written by Elizabeth Williams
I help companies have better conversations
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