Historically, recessions are relatively short and they're usually followed by long periods of prosperity
“ Most firms in our analysis cut their [marketing] budget in a recession.” “ Companies that have been looking at marketing as an investment, and not an expense are the ones that are going to come out of this [recession] really, really well.”
This is not the time to cut sales and marketing! It is well documented that companies that increase sales and marketing during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost than during good economic times . John Quelch is Senior Associate Dean of Business Administration at Harvard Business School.
“ I have yet to see any study that proves timidity is the route to success.” Studies consistently have proven that companies that have the intelligence and guts to maintain their overall marketing and advertising efforts in times of business downturns will get the edge on their timid competitors ” . J. Welsey Rosberg Senior VP, Meldrum & Fewsmith’s
McGraw-Hill Research analyzed 600 businesses. Those specific companies that maintained or increased their sales, marketing and advertising expenditures during a recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. Sales from companies that remained aggressive during recession enjoyed a 256% increase in overall revenue- during the first three years of the recovery
The only difference between the two groups was in their attitudes
People are always blaming their circumstances on their on their lack of success. ________________ The people who get on in this world are the people who get up …and look for the circumstances they want … And, if they can’t find them, make them. ______________________
They have an unrelenting focus on doing things that produce revenue!
"The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today! "
“ To those of you who are never in a hurry, who say what’s the rush. Who believe that when it comes to taking action that we have plenty of time. Well, I’ll do my best to be as polite and delicate as possible.”
You are an idiot. There is no time. There is always a rush. You don’t have all the time in the world “ HURRY UP!”