Q In this unsteady economy, I have to pull back on my marketing dollars. How can I not lose momentum? -LEON, ATLANTA
HERE'S A QUESTION to answer your question: Do you have to pull back your marketing?
I'VE BEEN through downturns as an employee and as a founder, and have learned an important lesson: Just because everyone cuts their budget in the same place doesn't mean you have to. In fact, when the herd moves in one direction, it creates opportunities.
If your goal is sustaining momentum-which means doubling down on your most loyal customers and winning new ones-why would you assume marketing is the place to cut?
Successful marketing depends on many factors. Some of it you control, like the messaging, creative, and good targeting. Other parts you don't, like saturation of the marketplace, how much your competitors are spending, and your customers' mindset. But when recessions or downturns hit, the uncontrollable variables can work in your favor, because...
This story is from the March - April 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March - April 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Why Small Businesses Can't Afford to Grow
Big companies take a long time to pay their suppliers. Sometimes, so long that the supplier goes out of business. Two entrepreneurs wanted to find out why this system is so broken-and wound up creating a solution.
MY FAVORITE CUSTOMER
For small, independent businesses, loyal patrons are benefactors, protectors, muses, and mascots. They make sure the show goes on. Here, three business owners celebrate an irreplaceable member of their community.
Do You Say 'Yes' Enough?
We don't give ourselves enough credit for trying. So let's start doing it right now.
He Does $10 Million-Plus in Sales
When Jeffrey Bell gave up horse training to buy a Floor Coverings International franchise, he wanted to get out ahead of his new pack. To do that, he had to learn to delegate.
How This Business Rookie Became a Top Seller
After competing in two Olympics, Cammile Adams dove headfirst into her second career - and became SafeSplash Swim School's #1 franchisee. Here's how.
How to Pick the Perfect Franchise For You
There are a lot of great brands out there. But that doesn't mean they're all a great fit.
Serving the Underserved
When Dennis Johnson opened a Pizza Ranch in Minnesota, he hoped to serve the nearby Native American communities in more ways than one.
When Life Is Preparation
Vanesa Ellis was no expert on mosquitoes or lawn care. But as it turns out, something else made her the perfect fit for two home-care franchise brands.
Changing Careers? Consider Franchising.
Here are five reasons why franchise ownership could be the right fit for you.
WRANGLING THE MANY-HEADED MONSTER
For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts say, is to stay flexible.
