Adapting to A Down Economy
When things go south, customer behavior changes.
Money does not stop flowing, you will notice there still are lines outside the Apple Store and Starbucks... this is critical to keep in mind... BUT (another topic)
Consumer behavior does change.
Their worries shift from what the heck do I do with all this money to how much money do I have to float this?
This is something to keep in mind in your marketing message.
Remember, marketing is about the right message, right person, and right time.
So, you need to be sensitive to this and make sure your message matches with their situation.
Furthermore, how you market also changes...
Potentially, you are not hard-selling or being as aggressive, but are using this time to generate leads that you can cultivate.
This builds equity with your potential customers and also keeps you from looking like an insensitive, money hungry jerk.
Joe "The Outlier" Gallegos, CPA
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