Marketing is seen as a cost center. The first reaction to an economic downturn and recession is to retreat on marketing budgets. This creates a vicious cycle of losing customers due to such cutbacks. This would further hit the incoming revenue. You will see customers spending less on their products/services and causing those businesses to cut back even more. It requires you to create a recession-proof marketing.
Familiarize yourself with data and use a martech stack that is data friendly. Power-up on segmentation capabilities. Focus on return on cost spent by marketing dollars. Lastly, do not shy away from long-term strategies that help you rise right after the economic downturn ends.
The key is to choose marketing activities and invest in campaigns that keep your CFO happy. CFOs want to preserve profits while keeping their acquisition costs down and EBITDA stable. Hence, focus on outcome-based marketing decisions.
