Post by account_disabled on Dec 26, 2023 8:50:53 GMT 2
The Covid-19 pandemic is not the only situation that has significantly influenced the economic situation in Poland and around the world. Wars, natural disasters and other events can cause economic crises and recessions. These are associated with increasing inflation, high prices and reduced demand due to the lower purchasing power of society. Faced with unforeseen events, entrepreneurs face the challenge of how to maintain their business and even increase sales in times of crisis. Is this even possible and if so, how to do it? DO YOU WANT TO BOOST YOUR WEBSITE? Take advantage of individual expert advice Do you want to increase your company's results? Take advantage of the support of our experts and discover the full capabilities of your website. Learn free tips from Visible Range: Positioning Google Ads campaigns UX optimization MAKE AN APPOINTMENT FOR A FREE AUDIT visible 54 Business in times of crisis - how to maintain and develop it? A crisis situation such as a pandemic, war, or natural disaster affects both consumers and entrepreneurs.
Many companies lose financial liquidity in the face of WhatsApp Number List unforeseen events and are unable to cope with the effects of the crisis. What can you do and how to maintain your business and sales in difficult times? How to maintain your business in times of crisis? 1. Manage your marketing strategy wisely In times of crisis and economic recession, consumers and entrepreneurs reduce costs as much as they can. Consumers are buying less and cheaper, and are increasingly paying attention to product prices. Demand on the market is falling, which causes entrepreneurs to reduce prices and production costs, reduce employment, postpone investments and look for savings in various ways. One of them is to stop investing in advertising activities, because it is theoretically the easiest way to minimize expenses. Is it right? Not necessarily. If you completely stop advertising and promoting your company on the Internet, you will quickly lose the previously achieved results and after the crisis subsides, you will basically have to start from scratch. Moreover, you will lose control over the changing market and customer needs. How to maintain your business and company during the crisis?
Don't give up on marketing activities completely. You can partially limit them, but constantly monitor customer needs, expectations and demand. Adjust your product range and supply accordingly so as not to waste resources. How to maintain your business in times of crisis? 2. Change your audience segmentation rules In less turbulent times and in times of economic development, traditional methods of segmenting recipients according to demographic data - gender, age, education, income level - work well . However, during crisis and recession this method may prove unreliable. Then it is worth segmenting recipients based on their psychological reactions to the crisis . Divide your audience into several categories: recipients with the lowest incomes, who are hit hard by the market situation and therefore limit their costs as much as possible, and people with slightly higher incomes who, however, are sensitive and worried about the situation in the country and in the world, worried but patient consumers - they limit their spending, but not as sharply as the first group, they are optimistic in the long term and hope for an improvement in the situation and an end to the crisis, wealthy consumers who live at a similar level as before the crisis and do not worry about their income, live-for-today audiences who live for today and spend more on experiences than on things.
Many companies lose financial liquidity in the face of WhatsApp Number List unforeseen events and are unable to cope with the effects of the crisis. What can you do and how to maintain your business and sales in difficult times? How to maintain your business in times of crisis? 1. Manage your marketing strategy wisely In times of crisis and economic recession, consumers and entrepreneurs reduce costs as much as they can. Consumers are buying less and cheaper, and are increasingly paying attention to product prices. Demand on the market is falling, which causes entrepreneurs to reduce prices and production costs, reduce employment, postpone investments and look for savings in various ways. One of them is to stop investing in advertising activities, because it is theoretically the easiest way to minimize expenses. Is it right? Not necessarily. If you completely stop advertising and promoting your company on the Internet, you will quickly lose the previously achieved results and after the crisis subsides, you will basically have to start from scratch. Moreover, you will lose control over the changing market and customer needs. How to maintain your business and company during the crisis?
Don't give up on marketing activities completely. You can partially limit them, but constantly monitor customer needs, expectations and demand. Adjust your product range and supply accordingly so as not to waste resources. How to maintain your business in times of crisis? 2. Change your audience segmentation rules In less turbulent times and in times of economic development, traditional methods of segmenting recipients according to demographic data - gender, age, education, income level - work well . However, during crisis and recession this method may prove unreliable. Then it is worth segmenting recipients based on their psychological reactions to the crisis . Divide your audience into several categories: recipients with the lowest incomes, who are hit hard by the market situation and therefore limit their costs as much as possible, and people with slightly higher incomes who, however, are sensitive and worried about the situation in the country and in the world, worried but patient consumers - they limit their spending, but not as sharply as the first group, they are optimistic in the long term and hope for an improvement in the situation and an end to the crisis, wealthy consumers who live at a similar level as before the crisis and do not worry about their income, live-for-today audiences who live for today and spend more on experiences than on things.